5AM Venture Management, LLC

Key Holdings

The portfolio is dominated by positions in small-cap biotechnology and therapeutic companies, reflecting a specialized high-risk, high-reward strategy. The largest holding, Skye Bioscience Inc, represents 17.67% of the portfolio ($38.05M), followed by Entrada Therapeutics Inc at 11.46% ($24.69M) and Pharvaris N V at 9.24% ($19.90M). The top five holdings—all within the healthcare/biotech space—comprise nearly 54% of the fund's total assets.

Notably, Celdex Therapeutics Inc (CLDX) is the only holding explicitly categorized in the data as "Healthcare," comprising roughly 6% of the portfolio. The remaining top holdings, including Camp4 Therapeutics Corp (8.18%) and Viridian Therapeutics Inc (7.38%), are likely clinical-stage companies given their market caps and the fund's historical focus. The position sizes range significantly, with the smallest holding, Mersana Therapeutics Inc, accounting for only 0.19% of the portfolio, illustrating a steep drop-off in conviction outside the top tier.