5AM Ventures is back — raising a behemoth of $750 million in two new funds to do what VCs do best.
The life sciences and biotech-focused VC announced the raise earlier this week, closing two funds worth $450 million and $300 million, respectively. Managing partner Andrew Schwab told Endpoints News that the two funds will be focused on different stage companies: the bigger one, known as 5AM Ventures VII, will invest in anywhere from 15-18 early-stage biotechs, including companies formed out of its internal incubation engine, 4:59.
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