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ARCH funds detail Neumora (NASDAQ: NMRA) ownership near 19% stake

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

ARCH Venture-affiliated funds filed Amendment No. 4 to a Schedule 13D reporting their beneficial ownership in Neumora Therapeutics, Inc. The ARCH funds report beneficial ownership of 33,847,838 shares of Common Stock, representing 18.6% of Neumora’s outstanding shares, based on 182,040,945 shares reported outstanding in the issuer’s recent annual report.

Individual reporting persons include Kristina Burow with 33,965,419 shares deemed beneficially owned (18.7%), reflecting fund interests plus personal holdings, options and restricted stock units, and Steven Gillis with 31,526,272 shares (17.3%). The group states that no reporting person has effected transactions in Neumora’s stock during the last 60 days.

Positive

  • None.

Negative

  • None.

Insights

ARCH funds reaffirm a large, stable Neumora stake with no recent trading activity.

The filing shows ARCH Venture funds and related entities collectively reporting beneficial ownership around 18.6%–18.7% of Neumora Therapeutics common stock. This is characterized mainly through fund record holdings where various ARCH partnerships and LLCs act as general partners with shared voting and dispositive power.

The filing clarifies detailed record ownership across AVF VII, AVF VIII Overage, AVF X, AVF X Overage and AVF XII, and explains how individuals like Kristina Burow and Steven Gillis have pecuniary interests and additional personal equity and options. It also states that none of the reporting persons has traded Neumora shares in the last 60 days, suggesting the amendment primarily updates ownership disclosure rather than signaling new buying or selling.

ARCH funds beneficial ownership 33,847,838 shares (18.6%) Neumora common stock beneficially owned by each main ARCH reporting person
Shares outstanding 182,040,945 shares Neumora common stock outstanding as reported in Form 10-K used for ownership calculations
Kristina Burow beneficial ownership 33,965,419 shares (18.7%) Includes fund interests, personal shares, options and restricted stock units
Steven Gillis beneficial ownership 31,526,272 shares (17.3%) Neumora common stock deemed beneficially owned by Steven Gillis
AVF VII record shares 1,387,228 shares Common stock held of record by ARCH Venture Fund VII, L.P.
AVF X record shares 12,205,379 shares Common stock held of record by ARCH Venture Fund X, L.P.
AVF X Overage record shares 11,886,758 shares Common stock held of record by ARCH Venture Fund X Overage, L.P.
AVF XII record shares 6,046,907 shares Common stock held of record by ARCH Venture Fund XII, L.P.
Schedule 13D regulatory
"This Amendment No. 4 amends the filed on September 29, 2023 (as amended, the "Original 13D")"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.
beneficial ownership financial
"Each Reporting Person disclaims beneficial ownership of the Record Shares except for the shares, if any, held of record"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"Burow and Gillis have a pecuniary interest in AVP VII, and Burow has a pecuniary interest in AVP VIII LP"
restricted stock units financial
"and 20,100 fully vested restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
general partner financial
"AVP VII, as the sole general partner of AVF VII, may be deemed to beneficially own the AVF VII Record Shares"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
dispositive power financial
"shared power to dispose or to direct the disposition: See line 10 of cover sheets"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.





640979100

(CUSIP Number)
Mark McDonnell
ARCH Venture Management, LLC, 8755 W. Higgins Road, Suite 1025
Chicago, IL, 60631
(773) 380 6600

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
03/30/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




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SCHEDULE 13D


ARCH Venture Fund VII, L.P.
Signature:ARCH Venture Partners VII, L.P.
Name/Title:its General Partner
Date:04/01/2026
Signature:ARCH Venture Partners VII, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
ARCH Venture Fund VIII Overage, L.P.
Signature:ARCH Venture Partners VIII, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
ARCH Venture Fund X, L.P.
Signature:ARCH Venture Partners X, L.P.
Name/Title:its General Partner
Date:04/01/2026
Signature:ARCH Venture Partners X, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Robert Nelsen, Managing Director
Date:04/01/2026
ARCH Venture Fund X Overage, L.P.
Signature:ARCH Venture Partners X Overage, L.P.
Name/Title:its General Partner
Date:04/01/2026
Signature:ARCH Venture Partners X, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Robert Nelsen, Managing Director
Date:04/01/2026
ARCH Venture Fund XII, L.P.
Signature:ARCH Venture Partners XII, L.P.
Name/Title:its General Partner
Date:04/01/2026
Signature:ARCH Venture Partners XII, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
ARCH Venture Partners VII, L.P.
Signature:ARCH Venture Partners VII, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
ARCH Venture Partners X, L.P.
Signature:ARCH Venture Partners X, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Robert Nelsen, Managing Director
Date:04/01/2026
ARCH Venture Partners X Overage, L.P.
Signature:ARCH Venture Partners X, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Robert Nelsen, Managing Director
Date:04/01/2026
ARCH Venture Partners XII, L.P.
Signature:ARCH Venture Partners XII, LLC
Name/Title:its General Partner
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
ARCH Venture Partners VII, LLC
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Clinton Bybee
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell
Date:04/01/2026
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Robert Nelsen
Date:04/01/2026
ARCH Venture Partners VIII, LLC
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
ARCH Venture Partners X, LLC
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Robert Nelsen, Managing Director
Date:04/01/2026
ARCH Venture Partners XII, LLC
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell, Managing Director
Date:04/01/2026
Robert Nelsen
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Robert Nelsen
Date:04/01/2026
Keith Crandell
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Keith Crandell
Date:04/01/2026
Clinton Bybee
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Clinton Bybee
Date:04/01/2026
Kristina Burow
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Kristina Burow
Date:04/01/2026
Steven Gillis
Signature:/s/ Mark McDonnell*
Name/Title:Mark McDonnell, as Attorney-in-Fact for Steven Gillis
Date:04/01/2026
Comments accompanying signature:
*This Schedule 13D was executed by Mark McDonnell pursuant to a Power of Attorney filed as Exhibit 24.2 to the Form 3 relating to the beneficial ownership of shares of Neumora Therapeutics, Inc. by the Reporting Persons filed with the Securities Exchange Commission on September 14, 2023 and incorporated herein in its entirety by reference.

FAQ

What ownership stake in Neumora Therapeutics (NMRA) do ARCH Venture funds report?

ARCH Venture funds report beneficial ownership of 33,847,838 shares of Neumora common stock. This represents about 18.6% of the company’s outstanding shares, based on 182,040,945 shares reported outstanding in Neumora’s recent annual report.

Which Neumora (NMRA) investors are named in this Schedule 13D/A amendment?

The amendment lists multiple ARCH entities and individuals, including ARCH Venture Fund VII, VIII Overage, X, X Overage and XII, affiliated ARCH Venture Partners entities, and individuals Robert Nelsen, Keith Crandell, Clinton Bybee, Kristina Burow and Steven Gillis as reporting persons.

How much Neumora (NMRA) stock is attributed to Kristina Burow and Steven Gillis?

Kristina Burow is reported to beneficially own 33,965,419 shares, or about 18.7% of Neumora, including fund interests, personal shares, options and restricted stock units. Steven Gillis is reported to beneficially own 31,526,272 shares, representing approximately 17.3% of the company’s common stock.

Did ARCH Venture or its principals trade Neumora (NMRA) shares recently?

The filing states that none of the reporting persons effected any transactions in Neumora common stock during the last 60 days. This suggests the amendment primarily updates and clarifies beneficial ownership positions rather than disclosing new purchase or sale activity.

What share count did ARCH use to calculate its Neumora (NMRA) ownership percentages?

Ownership percentages are calculated using 182,040,945 shares of Neumora common stock outstanding, as reported in the company’s Annual Report on Form 10-K filed on March 30, 2026. For Kristina Burow, certain option holdings are included in the outstanding share figure.

What is the purpose of this Neumora (NMRA) Schedule 13D/A Amendment No. 4?

Amendment No. 4 updates beneficial ownership information originally reported on Schedule 13D for Neumora Therapeutics. It details current record holdings across several ARCH funds and clarifies how affiliated general partners and individuals may be deemed to share voting and dispositive power over these shares.