Biotech venture capital is supposed to be the highest-risk/highest-reward type of investment there is. But many biotech VCs are actually pretty conservative, hesitant to wager on edgy science that might take a decade to pay off.
Not Third Rock Ventures. The Boston and San Francisco-based firm with an appetite for some of the riskiest and potentially highest-impact ideas in biomedical science, is announcing today it has raised a new fund with $616 million. The firm, founded in 2007, now has $1.9 billion under management spread across four different funds. More than a few of its portfolio companies — Agios Pharmaceuticals, Bluebird Bio, Sage Therapeutics, Editas Medicine, and Foundation Medicine — are closely watched public companies with large, avid followings on Wall Street.
