AN Ventures
- Company typePrivate
- Founded2022
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
AN Ventures firmographics
Firmographics- Name
- AN Ventures
- Legal name
- AN Venture合同会社 (AN Venture GK)
- Website
- https://an.vc/en/#about
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
AN Ventures industry classification
Industry- Product category
- Venture Capital — Biotech / Life Sciences
- NAICS
- Other Investment Pools and Funds (5259)
- SIC
- Services-Management Consulting Services (8742)
- akta.pro primary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
- akta.pro secondary industries
- Venture Studios / Company Builders (FSANAAAH), Early-Stage Venture Capital (Series A/B) (FSANAAAB)
Keywords
Where AN Ventures is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
AN Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Fund Management Fees: AN Venture Partners earns management fees on its USD200 million Fund I during the investment period, typical for venture capital funds. These fees provide recurring revenue to cover operational costs.
- Carried Interest (Carry): ANV earns carried interest (typically 20% of profits above the hurdle rate) from Fund I's portfolio company exits. This is the primary economic upside for the GP and aligns ANV's incentives with LPs. The carried interest is realized upon successful exits through IPOs, acquisitions, or secondary transactions.
- Co-Investment Rights: ANV participates in co-investment opportunities alongside syndicate partners, potentially generating deal-by-deal fees or carried interest on co-invest tranches.
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
AN Ventures product offering
Product offeringCore offering
AN Ventures (AN Venture Partners) is a Tokyo and San Francisco-based multi-stage biotech venture capital firm that identifies innovative Japanese science, co-founds and builds US-incorporated biotech startups around those discoveries, and connects them with global venture capital. The firm invests across all stages from pre-proof-of-concept through advanced clinical stages in biotech and biotech-related fields through its USD200 million Fund I.
Product overview
AN Venture Partners (ANV) is a Tokyo and San Francisco-based multi-stage global biotech venture capital firm. The firm operates as a single investment fund management business, with ANV Fund I as its primary offering - a USD200 million fund that closed in June 2025. The firm's core service is identifying, investing in, and building biotech companies based on Japanese science. ANV does not offer distinct software products, modules, or SaaS offerings - it is a venture capital investment firm rather than a technology product company.
Differentiator
Problem solved
Functional benefit
Brands
- Science2Startup Japan (S2S Japan): A program founded by AN Venture Partners that connects Japanese academic life science discoveries with global investors and pharmaceutical companies, adapted from a US-based program established by RA Capital Management and Atlas in Boston.
Products and services
- AN Venture Partners I, LP (Fund I) A USD200 million multi-stage biotech venture capital fund that invests across all stages from pre-proof-of-concept to advanced clinical stages, covering all modalities and disease areas. The fund focuses on identifying, building, and financing US-incorporated biotech startups that commercialize innovative Japanese science, generating returns through management fees and carried interest on successful exits.
- Science2Startup (S2S) Japan Symposium An annual flagship symposium connecting Japanese academic life science researchers with global investors and pharma companies, adapted from the US-based S2S event series established by RA Capital Management and Atlas in Boston. Finalists receive months of mentorship from top-tier US venture capitalists before presenting at the event, which functions as a deal-sourcing and brand-building mechanism for ANV's investment activities.
Quantifiable outcome
- City Therapeutics raised $99.5M Series B and has raised over $230M total; partnered with Biogen (up to $1B milestones) and Bausch + Lomb (up to $485M milestones)
- +6 more outcomes
Companies that use AN Ventures
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
AN Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
AN Ventures partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and minor.
- Eisai Co., Ltd.coreTortugas Neuroscience (ANV portfolio company) in-licensed clinical-stage CNS assets from Eisai. Eisai's longstanding research achievements in neurological and psychiatric disorders are being advanced through Tortugas, delivering Japanese pharma innovation to patients globally.
- Jiangsu Hansoh Pharmaceutical Group Co., Ltd.coreTortugas Neuroscience (ANV portfolio company) in-licensed clinical-stage CNS assets from Jiangsu Hansoh Pharmaceutical Group (Greater China).
- CIC InstitutecoreCo-organizer of the Science2Startup (S2S) Japan symposium, jointly with UTEC and LINK-J. ANV founded S2S Japan, adapted from the US-based S2S event series.
- University of Tokyo Edge Capital Partners (UTEC)coreCo-organizer of S2S Japan symposium and co-investor in Pahr Therapeutics alongside ANV and RA Capital Management.
- Life Science Innovation Network Japan (LINK-J)coreCo-organizer of S2S Japan symposium, jointly with CIC Institute and UTEC.
- Fuji Pharma / Fuji YakuhincoreCrystalys Therapeutics' lead asset dotinurad was invented by Fuji Yakuhin (Fuji Pharma). The compound has received regulatory approval in Japan, China, Philippines, and Thailand.
- National Cerebral and Cardiovascular Center (NCVC)corePahr Therapeutics was co-founded by researchers from NCVC in Osaka, Japan. Dr. Yoshikazu Nakaoka (Director, Vascular Physiology) and colleagues' pioneering research in PAH molecular pathophysiology guided the company's therapeutic approach.
- BiogencoreCity Therapeutics (ANV portfolio company) entered a strategic research collaboration with Biogen to develop select novel RNAi-based therapies. City Therapeutics leverages its next-generation RNAi engineering technologies; Biogen provides proprietary drug delivery technology and is responsible for IND-enabling studies, global clinical development, and commercialization. Deal includes milestone payments of up to USD1 billion.
- University of Tokyo — Professor Haruhiko FujiwaracoreTypewriter Therapeutics was founded based on research achievements in transposons by Professor Emeritus Haruhiko Fujiwara of the University of Tokyo, who also serves as the company's senior researcher.
- Bausch + LombcoreCity Therapeutics announced a strategic partnership with Bausch + Lomb including milestone payments of up to USD485 million (January 2025).
- RA Capital ManagementcoreRA Capital Management co-founded the original S2S event series in the US with Atlas in Boston and partnered with ANV to bring S2S to Japan. RA Capital partner Josh Resnick served as mentor and judge at S2S Japan 2024.
- Japan Agency for Medical Research and Development (AMED)coreANV was selected as a certified VC partner under AMED's Pharmaceutical Startup Ecosystem Strengthening Program in 2024. ANV Managing Partner Ken Horne was appointed to the AMED Advisory Board in June 2026 — the first venture capitalist to join the board.
- US Embassy in JapanminorANV hosted a US-Japan collaboration event on December 4, 2023 with support from the US Embassy in Japan, bringing together pharmaceutical companies, financial institutions, research institutions, and government agencies to promote the Japanese biotech ecosystem.
- Keidanren (Japan Business Federation)minorANV participated in a panel discussion at the US-Japan collaboration event featuring Tomoko Namba (Vice Chair of Keidanren) on strengthening Japan's biotech ecosystem.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
AN Ventures competitors and assessment
Company assessmentBroad incumbents
- ARCH Venture Partners: One of the world's leading biotech-focused venture capital firms and ANV's founding alliance partner. ARCH co-leads ANV Fund I and co-invests in portfolio companies such as City Therapeutics, providing both syndicate capital and exit-network access that materially shapes ANV's investment outcomes.
- RA Capital Management: Healthcare-focused crossover and venture investor that co-founded the original Science2Startup event in the US and partnered with ANV to bring S2S to Japan. RA Capital co-leads ANV-backed rounds (e.g., Pahr Therapeutics) and serves as a critical co-investor and mentor source.
- Novo Holdings: Holding company of the Novo Nordisk Foundation and a major global biotech investor. Novo Holdings co-led Crystalys Therapeutics' $205M Series A with ANV participation, making it a directly overlapping late-stage biotech co-investor.
- Sofinnova Investments: One of the longest-tenured biotech-focused venture capital firms, investing across all stages of therapeutics development. Sofinnova is listed among ANV's syndicate partners and competes for similar late-stage biotech financings.
Direct peers
- University of Tokyo Edge Capital Partners (UTEC): Japan-focused early-stage VC originating from the University of Tokyo. UTEC is a direct peer in Japanese deep-tech and biotech investing, co-organizes S2S Japan with ANV, and co-leads rounds such as Pahr Therapeutics.
- Catalys Pacific: Japan- and Asia-focused biotech venture firm co-leading large early-stage biotech rounds out of Japan. Catalys Pacific co-led Crystalys Therapeutics' $205M Series A alongside Novo Holdings and SR One, directly overlapping with ANV's Japanese biotech investment thesis.
- SR One: Biotech-focused venture firm backed by GlaxoSmithKline that invests across modalities and stages. SR One co-led Crystalys Therapeutics' Series A alongside ANV, making it a direct syndicate partner in the same Japanese-sourced biotech deals.
- The Column Group: Biotech-focused venture firm that builds companies around transformative science. The Column Group participated in Tortugas Neuroscience's Series A alongside ANV and Cure Ventures, directly overlapping in CNS/biotech investing.
- Cure Ventures: Biotech-focused venture firm investing in early- and early-clinical-stage therapeutics. Cure Ventures led the Seed round and co-led the Series A for ANV-backed Tortugas Neuroscience, making it a directly overlapping stage- and sector-focused peer.
- Lightstone Ventures: Biotech- and medtech-focused venture firm investing in early- to mid-stage companies. Lightstone is listed among ANV's syndicate partners and competes for similar therapeutic-stage biotech opportunities globally.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
AN Ventures social profiles
Digital presenceAN Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
AN Ventures leadership team
Management profileNumber of profiles
Profiles14 records
AN Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AN Ventures M&A and investment
M&A and investmentM&A
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AN Ventures
What does AN Ventures do?
AN Ventures (AN Venture Partners) is a Tokyo and San Francisco-based multi-stage biotech venture capital firm that identifies innovative Japanese science, co-founds and builds US-incorporated biotech startups around those discoveries, and connects them with global venture capital. The firm invests across all stages from pre-proof-of-concept through advanced clinical stages in biotech and biotech-related fields through its USD200 million Fund I.
Is AN Ventures a public or private company?
AN Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was AN Ventures founded?
AN Ventures was founded in 2022. It employs 1 to 10 people.
Where is AN Ventures based?
AN Ventures is headquartered in San Francisco, United States, in the North America region.
How does AN Ventures make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest (Carry) and co-Investment Rights.
Who are AN Ventures's main competitors?
Broad incumbents on record are ARCH Venture Partners, RA Capital Management, Novo Holdings and Sofinnova Investments. Direct peers are University of Tokyo Edge Capital Partners (UTEC), Catalys Pacific, SR One, The Column Group, Cure Ventures and Lightstone Ventures.
Does AN Ventures have an API?
No public API is recorded for AN Ventures.
What industry is AN Ventures in?
AN Ventures's product category is Venture Capital — Biotech / Life Sciences. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists), with a secondary code of FSANAAAH, Venture Studios / Company Builders. Its NAICS code is 5259 and its SIC code is 8742.