Adjuvant Capital

Adjuvant Capital is a life sciences venture capital firm dedicated to financing innovative technologies that address significant public health challenges, particularly in underserved markets. The firm focuses on high-burden infectious diseases, maternal and child health, nutrition, and reproductive and sexual health. Within the infectious disease category, Adjuvant targets the 'big three' (HIV/AIDS, tuberculosis, malaria), tropical diseases like schistosomiasis and onchocerciasis, pandemic threats such as Middle East Respiratory Syndrome (MERS) and Lassa fever, and antimicrobial resistance (AMR). The majority of their investments are in technologies that have demonstrated safety and efficacy in humans, aiming to accelerate the global availability of impactful medical innovations.

Adjuvant Capital's investment strategy is influenced by global trends such as climate change, the empowerment of women and girls, urbanization, antimicrobial resistance, and globalization. These trends guide the firm toward looming public health threats and the high-impact innovations that will address them. The firm is backed by leading strategic investors and alternative asset managers who understand the global public health landscape, providing invaluable domain expertise and support on top of their capital commitments.

As of September 30, 2023, Adjuvant Capital's assets under management covered by the Operating Principles for Impact Management total $300 million USD. The firm has made 33 investments, with its most recent investment on March 17, 2025, when Curevo raised funds. Notable exits include AN2 Therapeutics, LakeShore Biopharma, and Evofem Biosciences. Adjuvant Capital's mission is to use venture capital strategies to deploy capital in the most promising public health technologies and ensure they are made accessible to those who need them most, generating both social and financial returns for investors.