# Flagship Pioneering, LLC: portfolio, investments and team

> Flagship Pioneering, LLC is a vc firm based in United States. 95 investments on record, latest Dec 2013. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/flagship-pioneering-llc (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Flagship Pioneering, LLC

Last cheque observed Dec 2013. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Email

Quiet VC firm

Series A Series B Series C

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 95 on record

Since the last cheque **4712** days **00** hrs **00** min **00** sec

Median round **$14M** Rounds led **0 of 95** Sole investor **6 rounds** Exits **15 from the portfolio** Mostly in **United States, 100%**

Pitch Flagship Pioneering, LLC

## Flagship Pioneering, LLC highlights

- 01 95 rounds on record
- 02 Mostly Series A and Series B: 46% of its rounds
- 03 Sole investor in 6 rounds, median $9.7M
- 04 15 exits from the portfolio

## What they do

> SEC Form ADV: exempt reporting adviser From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Based in:** Cambridge, MA, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **95 appearances**

- **2013** 8 rounds
- **Dec** **[Visterra](https://millionrounds.com/company/visterra)** Series A · US · finsmes.com **$8.1M** With 4 others
- **Nov** **[Editas Medicine](https://millionrounds.com/company/editas-medicine)** Series A · US · finsmes.com **$43M** With 3 others
- **Nov** **[Seres Health](https://millionrounds.com/company/seres-health)** Series A · US · finsmes.com **$11M** With 1 other
- **Oct** **[Pronutria Biosciences, Inc.](https://millionrounds.com/company/pronutria-biosciences-inc)** Series A · US · pehub.com **$11M** Sole investor
- **Apr** **[Syros Pharmaceuticals](https://millionrounds.com/company/syros-pharmaceuticals)** Series A · US · syros.com **$30M** With 1 other
- **Mar** **[T2 Biosystems](https://millionrounds.com/company/t2-biosystems)** Series E · US · pevc.dowjones.com **$40M** With 9 others
- **Mar** **[TARIS Biomedical](https://millionrounds.com/company/taris-biomedical)** Growth · US · sec.gov **$14M** With 3 others
- **Mar** **[Avedro](https://millionrounds.com/company/avedro)** Series D · US · boston.com **$43M** With 7 others
- **2012** 10 rounds
- **Dec** **[Blend Therapeutics](https://millionrounds.com/company/blend-therapeutics)** Series B · US · finance.yahoo.com **$16M** With 2 others
- **Dec** **[Moderna Therapeutics](https://millionrounds.com/company/moderna-therapeutics)** Venture · US · masshightech.com **$40M** Sole investor
- **Nov** **[Quanterix](https://millionrounds.com/company/quanterix)** Series C · US · masshightech.com **$19M** With 3 others
- **Nov** **[Visterra](https://millionrounds.com/company/visterra)** Series A · US · sec.gov **$26M** With 4 others
- **Sept** **[WikiCell Designs](https://millionrounds.com/company/wikicell-designs)** Series A · US · finsmes.com **$10M** With 2 others
- **Jun** **[Seventh Sense Biosystems](https://millionrounds.com/company/seventh-sense-biosystems)** Series A · US · finsmes.com **$10M** With 1 other
- **May** **[Eleven Biotherapeutics](https://millionrounds.com/company/eleven-biotherapeutics)** Series A · US · masshightech.com **$20M** With 3 others
- **Mar** **[Receptos](https://millionrounds.com/company/receptos)** Venture · US **$30M** With 5 others
- **Feb** **[Polatis](https://millionrounds.com/company/polatis)** Venture · US · polatis.com **$2.7M** With 5 others
- **Jan** **[Blend Therapeutics](https://millionrounds.com/company/blend-therapeutics)** Series A · US · biocentury.com **$2.8M** With 1 other
- **2011** 6 rounds
- **Nov** **[Agios Pharmaceuticals](https://millionrounds.com/company/agios-pharmaceuticals)** Series C · US · finsmes.com **$78M** With 3 others
- **Aug** **[T2 Biosystems](https://millionrounds.com/company/t2-biosystems)** Series D · US · masshightech.com **$23M** With 9 others
- **Jun** **[Kovio](https://millionrounds.com/company/kovio)** Venture · US · finsmes.com **$15M** With 6 others
- **Jun** **[ExactCost](https://millionrounds.com/company/exactcost)** Venture · US · fis.dowjones.com **$8.5M** Sole investor
- **May** **[Seventh Sense Biosystems](https://millionrounds.com/company/seventh-sense-biosystems)** Series A · US · 7sbio.com **$4.5M** With 2 others
- **Apr** **[TARIS Biomedical](https://millionrounds.com/company/taris-biomedical)** Series B · US · eon.businesswire.com **$18M** With 3 others
- **2010** 12 rounds
- **Dec** **[LS9](https://millionrounds.com/company/ls9)** Series D · US **$30M** With 5 others
- **Oct** **[Accuri Cytometers](https://millionrounds.com/company/accuri-cytometers)** Series E · US · onbiovc.com **$6.0M** With 5 others
- **Aug** **[Visterra](https://millionrounds.com/company/visterra)** Debt · US · sec.gov **$6.0M** With 2 others
- **Jun** **[BIND Therapeutics](https://millionrounds.com/company/bind-therapeutics)** Series C · US · fiercebiotech.com **$12M** With 4 others
- **Jun** **[Acceleron Pharma](https://millionrounds.com/company/acceleron-pharma)** Venture · US · masshightech.com **$8.4M** With 4 others
- **Jun** **[Everyday Solutions](https://millionrounds.com/company/everyday-solutions)** Venture · US · sec.gov **$2.8M** With 2 others
- **Jun** **[Tetraphase Pharmaceuticals](https://millionrounds.com/company/tetraphase-pharmaceuticals)** Series C · US · fiercebiotech.com **$45M** With 7 others
- **May** **[T2 Biosystems](https://millionrounds.com/company/t2-biosystems)** Series C · US · onbiovc.com **$15M** With 8 others
- **Apr** **[Joule Unlimited](https://millionrounds.com/company/joule-unlimited)** Series B · US · jouleunlimited.com **$30M** Sole investor
- **Apr** **[Selecta Biosciences](https://millionrounds.com/company/selecta-biosciences)** Series C · US · freshnews.com **$15M** With 4 others
- **Mar** **[TransMedics](https://millionrounds.com/company/transmedics)** Series E · US · onbiovc.com **$36M** With 10 others
- **Mar** **[Eleven Biotherapeutics](https://millionrounds.com/company/eleven-biotherapeutics)** Series A · US · onbiovc.com **$35M** With 1 other
- **2009** 14 rounds
- **Nov** **[Receptos](https://millionrounds.com/company/receptos)** Series A · US · fiercebiotech.com **$25M** With 3 others
- **Oct** **[LS9](https://millionrounds.com/company/ls9)** Series C · US · onbiovc.com **$25M** With 4 others
- **Sept** **[Alvine Pharmaceuticals](https://millionrounds.com/company/alvine-pharmaceuticals)** Series A · US · deals.venturebeat.com **$22M** With 5 others
- **Aug** **[Pervasis Therapeutics](https://millionrounds.com/company/pervasis-therapeutics)** Series C · US · news.prnewswire.com **$17M** With 2 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **2 named**

CR **Charles Robert Carelli** CFO i Form ADV

NB **Noubar B Afeyan** CEO & President i Form ADV

We also hold **2** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$13B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Flagship Pioneering, LLC
- **SEC number:** CRD 161864

## Exits from the portfolio

Companies it backed that were later bought or listed **15 in all**

**[Seahorse Bioscience](https://millionrounds.com/company/seahorse-bioscience)** Bought by [Agilent Technologies](https://millionrounds.com/fund/agilent-technologies) **$235M** Sept 2015

**[Receptos](https://millionrounds.com/company/receptos)** Bought by [Celgene](https://millionrounds.com/fund/celgene) **$7.3B** Jul 2015

**[LS9](https://millionrounds.com/company/ls9)** Bought by [Renewable Energy Group](https://millionrounds.com/fund/renewable-energy-group) **$62M** Jan 2014

**[Kovio](https://millionrounds.com/company/kovio)** Bought by Thin Film Electronics ASA **$3.7M** Jan 2014

**[Agios Pharmaceuticals](https://millionrounds.com/company/agios-pharmaceuticals)** Listed **$86M** Jun 2013

**[Everyday Solutions](https://millionrounds.com/company/everyday-solutions)** Bought by Synovia, Inc. **Undisclosed** Sept 2012

**[TripAdvisor](https://millionrounds.com/company/tripadvisor)** Listed **Undisclosed** Dec 2011

**[Accuri Cytometers](https://millionrounds.com/company/accuri-cytometers)** Bought by (Becton, Dickinson and Company) **Undisclosed** Mar 2011

**[Adnexus](https://millionrounds.com/company/adnexus)** Bought by [Bristol-Myers Squibb](https://millionrounds.com/fund/bristol-myers-squibb) **$415M** Aug 2010

**[Interactive Supercomputing](https://millionrounds.com/company/interactive-supercomputing)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **Undisclosed** Sept 2009

**[Calpurnia Corporation](https://millionrounds.com/company/calpurnia-corporation)** Bought by [Tyco International](https://millionrounds.com/fund/tyco-international) **Undisclosed** Jul 2008

**[Zingku](https://millionrounds.com/company/zingku)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** Sept 2007

**[Adnexus](https://millionrounds.com/company/adnexus)** Bought by [Bristol-Myers Squibb](https://millionrounds.com/fund/bristol-myers-squibb) **$415M** Sept 2007

**[TripAdvisor](https://millionrounds.com/company/tripadvisor)** Bought by [Expedia](https://millionrounds.com/fund/expedia) **Undisclosed** Aug 2005

**[TripAdvisor](https://millionrounds.com/company/tripadvisor)** Bought by [IAC](https://millionrounds.com/fund/iac) **$210M** Mar 2004

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Series A Series B Series C

Median round joined **$14M** the round, not its cheque Alone, median **$9.7M**

Led 0 of 95 rounds **0%**

- **Sole investor:** 6 rounds
- **Last cheque:** Dec 2013
- **Exits:** 15 from the portfolio

Rounds by stage said on their site

- Series A *25*
- Series B *18*
- Series C *18*
- Venture *15*
- Series D *11*
- Series E *6*

Cheques by year Led Joined

2000 2013

Often in the room with

- [Polaris Partners](https://millionrounds.com/fund/polaris-partners) 26
- [Kleiner Perkins Caufield & Byers](https://millionrounds.com/fund/kleiner-perkins-caufield-and-byers) 8
- [ARCH Venture Partners](https://millionrounds.com/fund/arch-venture-partners) 7
- [Commonwealth Capital Ventures](https://millionrounds.com/fund/commonwealth-capital) 7
- [Flybridge](https://millionrounds.com/fund/flybridge) 7
- [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) 7

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## Who they invest alongside

The investors most often in the same rounds as Flagship Pioneering, LLC. A count of rooms they were both in, not a relationship either has claimed.

[**Polaris Partners** VC firm **26** rounds together](https://millionrounds.com/fund/polaris-partners)[**Kleiner Perkins Caufield & Byers** VC firm **8** rounds together](https://millionrounds.com/fund/kleiner-perkins-caufield-and-byers)[**ARCH Venture Partners** VC firm **7** rounds together](https://millionrounds.com/fund/arch-venture-partners)[**Commonwealth Capital Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/commonwealth-capital)[**Flybridge** VC firm **7** rounds together](https://millionrounds.com/fund/flybridge)[**Khosla Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/khosla-ventures)[**Third Rock Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/third-rock-ventures)[**Venrock** VC firm **7** rounds together](https://millionrounds.com/fund/venrock)[**General Catalyst** VC firm **6** rounds together](https://millionrounds.com/fund/general-catalyst)[**Atlas Venture** VC firm **5** rounds together](https://millionrounds.com/fund/atlas-venture)[**Bessemer Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/bessemer-venture-partners)[**Lightspeed Venture Partners** VC firm **5** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)

## Quick answers about Flagship Pioneering, LLC

### What does Flagship Pioneering, LLC invest in?

Flagship Pioneering, LLC invests most often at Series A and Series B (46% of the rounds on record).

### How active is Flagship Pioneering, LLC?

95 investments on record, 0 of them in the last 12 months. The most recent was in Dec 2013.

### How big are Flagship Pioneering, LLC's cheques?

The median round it joins is $14M.

### Does Flagship Pioneering, LLC lead rounds?

Rarely, if at all: none of its 95 investments on record names it as the lead.

### Where does Flagship Pioneering, LLC invest?

Most of the companies it backs are in the United States (100%).

### Is Flagship Pioneering, LLC investing now?

No investments in the last 12 months; the latest was in Dec 2013.

### Who does Flagship Pioneering, LLC invest alongside?

Most often Polaris Partners (26 rounds together), Kleiner Perkins Caufield & Byers (8 rounds together) and ARCH Venture Partners (7 rounds together).

### What kind of investor is Flagship Pioneering, LLC?

Flagship Pioneering, LLC is a VC firm based in Cambridge, MA, United States.

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