September 1, 2025
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Stage of Investment: Venture Capital (early stage, Series A focus) with a separate crossover/public “Opportunities” fund
Headquarter: San Francisco. Additional offices in Boston and New York
AUM: Regulatory assets under management are approximately $1.265 billion (SEC Form ADV, April 2025). The firm closed $750 million across Fund VII ($450M) and Opportunities II ($300M) in 2022
Founded in 2002, 5AM Ventures invests in life sciences companies with an emphasis on therapeutics, while also supporting drug-delivery technologies and life science instruments. The firm operates hands-on in company building, often placing partners in temporary operating roles, assisting with recruiting, and guiding strategic direction. It also runs 4:59 Initiative, an internal company creation and incubation program.
5AM Ventures invests primarily in early-stage private biopharma and therapeutics companies, while also making selective investments in tools and drug-delivery technologies. Through its “Opportunities” funds, the firm extends its strategy into later-stage private and small- to mid-cap public biotech. Its approach emphasizes active company building, with partners often involved directly in management and strategic decisions. The firm typically targets attractive returns within a three- to five-year horizon and maintains a concentrated portfolio of around 15 to 20 companies per fund. Initial investments are usually in the low millions, with a pace of several new deals each year. Underlying its strategy is a belief in capital efficiency, company creation, and the use of non-dilutive funding and strategic alliances to support growth and accelerate exit pathways.
Kush M. Parmar, MD, PhD — Managing Partner
Dr. Kush M. Parmar brings a rare blend of academic depth and entrepreneurial drive to his role as Managing Partner. A Princeton alum (A.B. in Molecular Biology and Medieval Studies), he earned both his M.D. and Ph.D. at Harvard, conducting developmental genetics research under Nobel laureate Eric Wieschaus and completing clinical rotations at Mass General and Brigham and Women's Hospitals. Since joining 5AM in 2010 and rising to Managing Partner in 2015, he's steered a number of portfolio companies, including Entrada Therapeutics, Rallybio, and Ensoma, and serves on multiple scientific and advisory boards including Grace Science Foundation and Princeton’s Molecular Biology department.
Andy J. Schwab — Managing Partner
Andy J. Schwab, the co‑founder and Managing Partner of 5AM Ventures, has been instrumental in conceiving and scaling the firm since 2002. His early career includes leadership roles at Bay City Capital, Digital Gene Technologies, and Montgomery Securities, where he honed his acumen in biotech investing and business development. Based in the San Francisco office, Schwab has led major investments and board roles at companies like Camp4 Therapeutics, Flexion Therapeutics, and Purigen, and serves on the boards of the California Academy of Sciences, Davidson College, and the NVCA
