Adjuvant Capital

Adjuvant Capital is a distinctive life sciences investment firm based in New York, United States, uniquely positioned at the intersection of venture capital and global health. The firm is dedicated to funding companies that develop innovative technologies aimed at addressing high-burden infectious and non-communicable diseases, particularly those affecting underserved populations worldwide. Adjuvant Capital operates with a dual mandate: to generate competitive financial returns for its investors while simultaneously achieving significant public health impact. This mission-driven approach sets it apart in the venture capital landscape, attracting both traditional and impact-focused limited partners.

The firm has demonstrated substantial growth in its capital base, reflecting its commitment and success in this specialized sector. Adjuvant Capital recently closed its third fund, Adjuvant Global Health Technology Fund III, at $300 million in 2023. This latest fund follows its successful Adjuvant Global Health Technology Fund II, which also closed at $300 million in 2020, and an initial fund of $200 million. Cumulatively, Adjuvant Capital now manages over $800 million in assets, providing it with significant capacity to support its portfolio companies through various stages of development.

Adjuvant Capital's investment strategy is flexible, spanning from early-stage ventures to growth equity opportunities. The firm typically deploys first checks ranging from $5 million to $25 million in Series A and B rounds, though it has the capacity to make larger investments in more mature, later-stage companies. Their portfolio reflects a broad commitment to global health challenges, including investments in novel vaccines, therapeutics for neglected tropical diseases, diagnostics, and solutions for antimicrobial resistance and maternal and child health. By providing crucial capital and strategic support, Adjuvant Capital plays a vital role in accelerating the development and accessibility of life-saving technologies for populations most in need.