ARCH Venture Fund XIII, L.P. reported a 16.2% ownership stake in Kardigan, Inc. common stock. The fund last added 1,250,000 IPO shares on June 22, 2026 and filed this Schedule 13D on June 29, 2026. The position reflects years of preferred stock purchases converted at the IPO and a sizable allocation in the offering.
Investor Intent
ARCH Venture Fund XIII holds the shares for investment and may buy or sell more over time. The fund signed a standard lock-up tied to the IPO and, as it states, "has agreed...not to...dispose" of its common stock for 180 days after June 17, 2026, unless the lead underwriters consent.
The group also holds a warrant for 876,040 shares that only becomes exercisable if Kardigan reaches a $5.0 billion market value: "The Warrants may not be exercised until the first date on which the Issuer achieves a market valuation of $5.0 billion." ARCH also retains registration rights that allow it to request future share registrations, subject to stated limits and termination dates.
Investor's Background
ARCH Venture Fund XIII, L.P. is a Delaware limited partnership and part of ARCH Venture Partners, a long-running venture capital platform. ARCH focuses on building and scaling transformative life sciences and technology companies, often leading early rounds and supporting firms through IPO and beyond. Its team has backed notable biotech innovators and typically takes active, long-horizon positions to support clinical and commercial progress.
Original SEC Filing:
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