• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

UBS clients raise $650 million for biggest yet biotech impact fund

October 6, 2021 by David Barret Leave a Comment

October 6, 2021

By Brenna Hughes Neghaiwi

ZURICH (Reuters) – UBS’s wealthy clients have raised $650 million for the biggest biotechnology impact fund ever, the Swiss bank said on Wednesday.

Impact investing – a term coined in 2007 – grew out of the desire to extend philanthropic goals into mainstream financial holdings.

Alongside financial returns, impact investments aim to generate measurable environmental and social impact, often in line with the United Nations Sustainable Development Goals (SDGs), which generally go beyond the basic principles of sustainable investing.

The Oncology Impact Fund 2, run by biotechnology investment firm MPM Capital, has raised a total of $850 million, including the $650 million obtained from UBS clients. It will invest 80% of its capital into privately held start-ups, and the remainder into public companies, developing innovative treatments for cancer and other serious illnesses.

Twenty percent of the performance fee the managers earn off their investments, as well as a portion of drug royalties, will be donated to improve access to cancer treatment for children in the developing world and to fund cancer research, portfolio manager Christiana Bardon said.

Together with its predecessor fund, for which MPM and UBS’s wealth management raised over $470 million in 2016, it marks the Swiss bank’s largest single theme-focused impact investment fundraising to date.

“With this fund, I feel like we tried to reimagine the impact space. The vision here is still extremely bold, which is to say: What if every drug that was developed and sold had that 1% go back to make the world a better place?” Mark Heafele, chief investment officer for UBS Wealth Management, said.

“When we started on this journey, impact investing was about impact bonds and at the time they were being done in $5 million increments. To launch something that is 100 times the size of that was very ambitious, and shows how this theme clearly resonates with our clients,” he added.

UBS, the world’s largest wealth manager, had raised $6.9 billion for SDG-related impact investments as of end-2020. It aims to add $70 billion of invested assets classified as impact investing or as sustainably focused investments more broadly through 2025.

While impact investing has often been associated with concessionary returns, the managers said investors – which include large companies, insurers and other very wealthy individuals alongside UBS clients – would not need to forgo returns, based on the performance of the previous fund.

“Our impact fund is as profitable as our other funds, and they are generally top quartile performers within U.S. venture capital,” MPM Managing Director Ansbert Gadicke said.

(Reporting by Brenna Hughes Neghaiwi; Editing by Steve Orlofsky)

Source Link UBS clients raise $650 million for biggest yet biotech impact fund

David Barret
David Barret

Related posts:

  1. U.S. pegs farm income at eight-year high amid strong corn, soy prices
  2. UK government plans new pet abduction offence after rise in thefts
  3. North and South Korea conduct missile tests as arms race heats up
  4. Russian authorities arrest cybersecurity giant Group-IB’s CEO on treason charges

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Want To Use Dragons As Dice? Now You Can, Thanks To Math
  • Why Did Humans Start Using Fire? New Theory Suggests It Wasn’t To Cook Food
  • Controversial “Alien’s Math” Has A New Translator. Can He Reform Its Reputation?
  • How To Watch A Rare Daytime Meteor Shower This Weekend
  • Over 250 Years After Captain Cook Arrived In Australia, Final Resting Place Of HMS Endeavour Confirmed
  • Over 1 Trillion Dollars’ Worth Of Precious Metals Are Hiding In Lunar Craters, Study Suggests
  • What Happened To Marco Siffredi? The First Person To Snowboard Down Mount Everest
  • Why The 28 Biggest Cities In The US Are Sinking Into The Ground
  • 200-Year-Old Condom Made Of Sheep Appendix Contains A *Very* NSFW Drawing
  • How Does A Rattlesnake Make Its Famous Rattle?
  • “We Captured Something No One Had Documented Before”: Wild Worm Towers Seen For The First Time
  • Chimpanzees Catch Yawns From Androids In Breakthrough For Contagious Yawning Research
  • Male Embryos Develop Ovaries In First-Ever Evidence Of Environment Affecting Mammalian Sex Determination
  • A Decapitated Python In Florida Everglades Suggests Bobcats Are Resisting Their Invasion
  • The Black Hole Universe: New Model Suggests The Big Bang Was Not The Beginning Of Everything
  • “World’s Smallest” Nano-Violin Measures Less Than A Hair’s Width – But Could Lead To Big Discoveries
  • What You Really Need To Know About The World’s Unluckiest Frog
  • The World’s Largest Time Capsule Is About To Be Opened In Seward, Nebraska
  • Why It’s So Damn Hard To Tell The Sex Of A Dinosaur
  • Goosebumps Aren’t Just A Human Thing. What Else Gets Them, And Why?
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version