5AM raises nearly $500 mln for life science funds

5AM Ventures announced that it had closed the two life science funds at almost $500 million in commitments. The firm, which has offices in San Francisco and Boston, closed 5AM Ventures VI at $350 million and 5AM Opportunities I at $147 million. The main fund will target early-stage life science companies with investments focused on the discovery and development of therapeutics, drug delivery technologies and research instruments. The opportunity fund will focus on existing companies in its portfolio. LPs included corporate and public pensions, endowments, foundations, family offices and funds-of-funds.

Source: Press release