M Ventures, a corporate innovation fund launched in 2009 by Darmstadt-based company Merck KGaA, received a multi-million euros allocation from its parent company for the third time.

The €600m in new investments allocated to M Ventures will be used over the next five years to further increase both the number and size of investments. The fund managers currently manage a portfolio of around 45 start-ups in the healthcare and life sciences sectors. In the two other focus areas of Electronics and Frontier Tech & Sustainability, there are a total of around 24 portfolio companies.

"Over the past decade, M Ventures has established itself as a leading partner for biotech and tech ventures worldwide," said Belén Garijo, chairman of the executive board and CEO of Merck KGaA, Darmstadt, Germany. "Given its extensive expertise in identifying new technologies and capabilities, we intend to increase our annual financial investment. This will enable M Ventures to further drive our breakthrough innovation strategy, deliver sustainable business results and act as a catalyst for innovative companies in developing breakthrough technologies," she added.

According to M Ventures, since its inception, it has been instrumental in the development of more than 80 global companies, helping to advance numerous drugs and technologies to market. While the fund officially operates separately from Merck's business, there is a clear strategic mandate to invest in innovative technologies and products that can have a positive impact on Merck's core businesses within the timeframe of a venture investment.

Several of the portfolio companies to date have already entered into collaborations with Merck KGaA, and strong financial returns have also been generated through acquisitions or listings, M Ventures said.