BioVenture VoiCes with Chris Garabedian Episode 25: Atlas Venture's Bruce Booth
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Sep 22, 2025 Bruce Booth, a venture capitalist and science-first company creator known for LifeSciVC, discusses Atlas Venture's structure and its move into venture creation. He covers how Atlas sources and incubates companies, platform vs asset decisions, the role of AI/ML in drug discovery, and building long-term pharma and talent networks.
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Protect Pro Rata With Opportunity Funds
- Use an Opportunity Fund to preserve pro rata and back winners through later rounds.
- That optionality lets you defend conviction during down rounds and capture upside you otherwise cede.
In-House Incubation Mix
- Atlas incubates most of its portfolio in-house with a mix of academic seeds, industry entrepreneurs, and spun-out assets.
- About two-thirds of deals originate and incubate on their floor, leveraging CROs and local lab space.
Bottom-Up Science-First Investing
- Atlas prefers bottom-up, science-first investing rather than top-down thematic bets.
- They build company structure around the science and embrace both asset and platform business models across cycles.