About Flagship Pioneering
Flagship Pioneering is a venture capital firm founded in 1999. It is primarily based out of Cambridge, United States. As of Mar 2025, Flagship Pioneering is an active investor, having invested in 144 companies, with 3 new investments in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and Enterprise Applications. Most recently it led the $200M Seed round of Lila Sciences along with General Catalyst. This round also saw participation from ADIA and other investors.
Overall, Flagship Pioneering portfolio has seen 3 unicorns, 25 IPOs and 48 acquisitions including key companies like ZoomInfo, Moderna and TripAdvisor. A lot of funds co-invest with Flagship Pioneering, with names like Polaris Partners sharing a substantial percentage of its portfolio.
Flagship Pioneering has team of 127 people including 74 partners.
Key Metrics
Team Members
, &
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B &
Portfolio IPOs
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Flagship Pioneering's Year-on-Year Investment Trends
Flagship Pioneering has invested in 144 companies over the last 25 years, with an average of 3 new investments annually in the last 10 years. In 2024, it made 2 investments, while as of Mar 2025, it has made 3 investments in this year. Its most recent first time investment was in Ampersand and most recent follow-on round was in Inari.
Year | No. of Investments | ||
|---|---|---|---|
1stÌý¸é´Ç³Ü²Ô»å | Follow-on | Total | |
2025 (YTD) | 2 | 1 | 3 |
2024 | 1 | 1 | 2 |
2023 | 3 | 3 | 6 |
2022 | 3 | 2 | 5 |
2021 | 6 | 4 | 10 |
2020 | 2 | 2 | 4 |
2019 | 0 | 0 | 0 |
2018 | 1 | 2 | 3 |
2017 | 7 | 6 | 13 |
2016 | 0 | 7 | 7 |
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Flagship Pioneering's Investment Trends by Stage
Flagship Pioneering has made 47 investments in Series A stage with an average round size of $21.4M, 27 investments in Series B stage with an average round size of $83.7M and 15 investments in Series C stage with an average round size of $49.1M.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Series A | 47 |
Series B | 27 |
Series C | 15 |
Seed | 6 |
Series D | 6 |
Others | 2 |
Flagship Pioneering's Investment Trends by Sector
Flagship Pioneering has a diverse portfolio, with companies operating in the Life Sciences, High Tech, Enterprise Applications, Sustainability Tech and Artificial Intelligence - Industry Applications. Notably, it has invested in 109 Tech companies, 94 Enterprise (B2B) companies, 16 Software companies and at least 12 companies focusing on Artificial intelligence.
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
Life Sciences | 62 |
High Tech | 32 |
Enterprise Applications | 15 |
Sustainability Tech | 14 |
Artificial Intelligence - Industry Applications | 10 |
Others | 63 |
Flagship Pioneering's Investment Trends by Geography
Flagship Pioneering has made most investments in United States (123), followed by Canada where it has made 1 investments.
Flagship Pioneering's recent investments
Here are the most recent investments by Flagship Pioneering:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 20, 2025 | United States | Series B | $65M | ||
Mar 06, 2025 | - | Seed | $200M | General Catalyst [+7] | |
Jan 07, 2025 | United States | Series G | $144M | [+2] | |
May 07, 2024 | United States | Series C | $50M | - | |
Jan 30, 2024 | United States | Series F | $103M | [+5] |
Get the detailed list of all investments by Flagship Pioneering. Download now!Unicorns in Flagship Pioneering's Portfolio
Here is a list of unicorns in Flagship Pioneering's portfolio:
ÃØÃÜÑо¿Ëù Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
70 | CRO focused on drug discovery & development services | 2018 | Somerville | Series C | filpgdj | ||
64 | Provider of breeding technology to design seeds | 2016 | Cambridge | Series G | fxcb{pf | ||
74 | Provider of microbe-based plant protection products | 2013 | Boston | Series G | qdeyml{ |
IPOs and Publicly Listed companies in Flagship Pioneering's Portfolio
Here are Flagship Pioneering's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 30, 2021 | Jul 29, 2020 | Series B | $85M | |
Feb 04, 2021 | Jun 25, 2020 | Series D | $821M | |
Oct 23, 2020 | - | - | - | |
Oct 14, 2020 | Nov 25, 2015 | Series A | $31M | |
Jun 04, 2020 | Jul 01, 2004 | Series A | $7M |
Acquired companies in Flagship Pioneering's Portfolio
Here are Flagship Pioneering's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 30, 2023 | Jun 21, 2017 | Series A | $23.5M | |
Jan 19, 2023 | Nov 30, 2006 | Series B | $48.5M | |
Oct 18, 2022 | Oct 2003 | Series B | $42.7M | |
Sep 27, 2021 | Feb 13, 2004 | Series A | $25M | |
Aug 23, 2021 | Jun 13, 2005 | Series C | $6.9M |
Team profile of Flagship Pioneering
Flagship Pioneering has a team of 127 membersÌýincluding 74 Partners and 40 PrincipalsÌýlocated in United States, United Kingdom and . Flagship Pioneering's team sits on the board of 1 company.Here is a list of top team members in Flagship Pioneering:
Name | Designation | Location | Board Memberships | Contact details |
|---|---|---|---|---|
Partner | Cambridge | - | ||
Partner | Cambridge | - | ||
Partner | Boston | - | - | |
Partner | Cambridge | - | - | |
Partner | Boston | - | - | |
Partner | Cambridge | - | - | |
Partner | Cambridge | - | ||
Partner | Boston | - | - | |
Partner | Basel | - | ||
Partner | Cambridge | - | - | |
Partner | Boston | - | - |
Get the full list of Flagship Pioneering's team & partners for free. Download now!Co-investors of Flagship Pioneering
Over the past 25 years, 476 investors have co-invested in Flagship Pioneering's portfolio companies.
- Invested before Flagship Pioneering:ÌýGoldman Sachs, YFM Equity Partners and 46 others have invested in rounds before Flagship Pioneering. There are 2 companies where Goldman Sachs has invested before Flagship Pioneering and 1 company where YFM Equity Partners has invested before Flagship Pioneering.
- Top Co-investors of Flagship Pioneering:Ìý179 investors entered a company along with Flagship Pioneering. These include investors like Polaris Partners (15 companies).
- Invested after Flagship Pioneering:ÌýA total of 249 investors have invested in Flagship Pioneering's portfolio after their investments. Top Investors include Fidelity Investments (5 companies), Acks (5 companies) and (5 companies).
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Recent News related to Flagship Pioneering
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FinSMEs•Mar 10, 2025•Lila Sciences, Flagship Pioneering, General Catalyst, March Capital and 6 others
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