5AM Ventures closes biggest-ever fund


life science test tube_sq5AM Ventures has closed its fourth fund on $250m, making it the largest vehicle ever raised by the biotech-focused firm.

5AM Ventures IV has received commitments from the Menlo Park-based firm’s new and existing LPs including endowments, family offices, foundations, funds-of-funds and pension funds.

The new fund, which follows 5AM’s $200m third vehicle, will invest in early-stage life science companies. The firm gathered $65m for its 2002 debut and $150m for Fund II in 2006.

In October this year AltAssets reported that 5AM was targeting $240m for its fourth vehicle and planned a quick fundraise.

Since its launch in 2002 5AM has invested in 40 early-stage companies. It currently has $685m under management.

5AM’s recent deals include an investment in biotech business Biodesy as part of its $15m Series A round.

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