Fund Will Support Creation and Development of Companies in Human Health, Sustainability and AI

BOSTON, August 5, 2024 – Proskauer, a leading international law firm, today announced it advised Flagship Pioneering (“Flagship” or “the Company”), a bioplatform innovation company, on raising an additional $3.6 billion of capital to fund the creation and development of an estimated 25 companies in human health, sustainability and artificial intelligence (“AI”). The Company raised $2.6 billion into Fund VIII, in addition to side funds that include sector-specific strategic partnerships totaling $1 billion.

Fund VIII is backed by a diverse group of new and long-standing investors from around the world. Since 2021, the Company has raised $6.4 billion of capital into its funds and with this latest raise, Flagship now operates with an aggregate capital pool of $10.9 billion and has $14 billion under asset management.

The Proskauer team advising Flagship included partner Howard Beber, senior counsel Louis Sorgi and associates Rachel McKie and Jamison Chung (Private Funds); and partners Arnold May and Stephen Severo and associate Gaochuan Xie (Tax).

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