Monday, March 5, 2007

MPM Capital Closes $550M Fund

MPM Capital announced today that it has closed a $550M healthcare investment fund. The firm said that it closed MPM BioVentures IV with $550M of committed capital, bringing the firm's total funds under management to more than $2.5B. Limited Partners in the new fund included GE Healthcare Financial Services, Itochu, the Kauffman Foundation and Scottish Widows Investment Partnership. Other new investors in the fund included AlpInvest, Dow Employees' Pension Plan, Skandia and Union Carbide Employees' Pension Plan.