Arch Venture Partners
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 1986 |
| Founder | Steven Lazarus, Clint Bybee, Keith Crandell, Bob Nelsen |
| Headquarters | Chicago , United States |
Area served | Biotechnology, semiconductors, technology sectors |
Key people | Clint Bybee, Keith Crandell, Bob Nelsen |
| Products | Venture capital funds |
| Website | archventure |
ARCH Venture Management LLC—also referred to as Arch Venture Partners or simply Arch—is a venture capital firm located in Chicago, United States. While its primary investment focus lies in the biotechnology industry, the firm also allocates capital to sectors including semiconductors and broader technology fields.
Background
The entity was established in 1986 under the name Arch Development Corporation through a collaboration between the University of Chicago and Argonne National Laboratory, with the objective of commercializing technologies developed by these institutions. The term "Arch" is derived from combining "Ar" (representing Argonne) and "ch" (for Chicago). This initiative was spearheaded by Steven Lazarus, who at the time served as Deputy Dean of the University of Chicago Booth School of Business. Lazarus recognized a lack of external funding options for spin-off enterprises, which motivated the creation of a dedicated venture capital fund.
In 1989, an initial capital infusion of roughly $9 million was provided by the university and laboratory to establish Arch Development Corporation’s inaugural fund, known as Arch Venture Fund Limited Partnership. This fund was one of the earliest examples of a fully committed venture capital partnership formed jointly by a major U.S. laboratory and university. The first fund supported twelve startups, most of which experienced successful outcomes.
Building on this early achievement, the university redirected Arch Development Corporation’s efforts toward licensing and business development activities while seeking to raise investment funds externally. Subsequently, in 1992, Steven Lazarus together with Booth School graduate students Clint Bybee, Keith Crandell, and Bob Nelsen founded Arch Venture Partners as an independent entity focused on venture capital fundraising.
Arch’s investment portfolio predominantly targets companies within biotechnology, semiconductor manufacturing, and computing industries.
The firm’s headquarters are situated in Chicago, with additional offices operating in Seattle, San Francisco, and Dublin.
Following the passing of Steven Lazarus on June 10, 2018, leadership duties were assumed by the remaining founding partners.