MPM raises $850M for second Impact Fund as exits pile up from first

With returns from early investments turning into grants for future research, MPM Capital has raised $850 million for its second Oncology Impact Fund, easily surpassing the size of its prior vehicle.

More than half the investments from the initial $471 million, 2016-vintage Impact Fund have already gone public, Managing Director Ansbert Gadicke told BioCentury. That has enabled MPM to funnel some cash to philanthropic organizations, with larger contributions likely down the road...