5AM refuels, with eye toward new set of opportunities

5AM doesn’t plan to change much in terms of its strategy with its two new funds totaling $750 million, but it will begin making its first investments in late-private and early-public companies outside its portfolio. And with new partners Elliott Levy and Paula Soteropoulos on board, it has two more experienced leaders to help mentor companies.

On Monday, 5AM announced it raised $400 million for its early-stage Fund VII and $300 million for its second Opportunities fund, both larger than their predecessor fund...