ARCH Venture Partners aims to raise $3 billion for its 14th biotech fund

ARCH Venture Partners, a leading biotech venture capital firm, announced its intention to raise about $3 billion for a new fund.

The proposed fund would be the firm's 14th and would rank among the largest venture capital raises in the biotech sector.

The move underscores continued investor appetite for biotech startups despite market volatility, and could provide significant capital for emerging companies.