• 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

  • Hormone Therapy For Trans Women Shifts Dozens Of Proteins To Align With Their Gender Identity
  • People Are Not Reacting Well After Learning How Cranberries Are Grown
  • The World’s Newest Great Ape Is Also Its Rarest, With Fewer Than 800 Left In The Wild
  • IFLScience We Have Questions: Can Burying Scientists Alive In The Snow Help Us Protect Polar Bears?
  • Scientists Perplexed By 407-Million-Year-Old Fossilized Plant That Doesn’t Follow The Fibonacci Sequence
  • This Giant Goldfish Hybrid Weighs As Much As A 10-Year-Old – A Stark Warning About Dumping Pets
  • Scientists Gave Mice Neanderthal And Denisovan Genes. The Results Were Intriguing
  • 2024 Saw Higher Levels Of Carbon Dioxide In The Atmosphere Than Ever Before
  • Halloween Fireballs Will Grace Our Skies As The Taurid Meteor Showers Arrive
  • Newly Discovered Hunting Megastructures Suggest Pre-Bronze Age Societies More Sophisticated Than Previously Thought
  • What Is Spectroscopy And Why Is It So Important To Science?
  • Parkinson’s “Trigger” Seen For The First Time: Scientists Image The Toxic Molecules Inside The Human Brain
  • What Flying Animals Exist That Are Not Birds?
  • DNA Evidence Uncovers Surprising Origins Of Native Americans
  • Single Gene Swap “Transfers A Behavior” Between Two Species For The First Time
  • Interstellar Object 3I/ATLAS Has A Rare “Anti-Tail”, New Observations Confirm
  • Asteroid Apophis: Animation Shows Asteroid’s Nail-Biting Close Approach To Earth In 2029
  • Titan Breaks A Key Chemistry Rule: What That Means For Alien Life
  • Scientists Studied “Chicago Rat Hole” – They Have Bad News, The South Atlantic’s Magnetic Field Weak Spot Is Growing, And Much More This Week
  • Could This Be The Real Reason Humans Survived And Neanderthals Died Out?
  • 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