Mer­ck KGaA's ven­ture arm is ready to make new in­vest­ments, rais­ing more than $675M to get things go­ing

Mer­ck KGaA’s ven­ture cap­i­tal arm has closed its lat­est fund, bring­ing the Eu­ro­pean con­glom­er­ate fresh cash to in­vest in up-and-com­ing biotechs.

M Ven­tures raised €600 mil­lion, or rough­ly $677 mil­lion, Mer­ck KGaA an­nounced Wednes­day morn­ing, in the fund’s third in­crease since be­ing es­tab­lished back in 2009. The fund’s man­ag­ing di­rec­tor, Hakan Gok­er, told End­points News in an in­ter­view that while M Ven­tures isn’t putting an ex­act num­ber on the com­pa­nies it’ll fund, the cash will like­ly go to­ward seed rounds and ear­ly in­vest­ments.

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