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.