Busy VC 5AM eclipses $125M target for fund to inject capital into existing portfolio, meets goal for sixth biotech fund
Last October, busy VC 5AM pencilled in a $350 million target for its sixth fund. On Wednesday, it was reported that the goal was met, and the venture group’s Opportunities I fund — designed to inject more cash into its existing portfolio — had surpassed its target of $125 million, raising $147 million.
Altogether, the California-based VC — which has traditionally taken about 30 months to burn through a fund — has raised nearly $500 million for the pair of funds.
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