MRL Ventures Fund is the corporate venture arm of Merck, focusing on seed and early-stage investments in therapeutic companies within the life sciences and healthcare sector. Their strategy involves providing capital, strategic guidance, and mentorship to innovative startups developing transformative medicines, while explicitly avoiding investments in medical devices, diagnostic platforms, or digital health.
82% of their portfolio is in Biotech & Life Sciences. Deal activity decreased year-over-year (1 deals in the last 12 months vs 3 prior). Their most common stage is series-a (55% of deals). Average disclosed round size is $78.2M (across 11 rounds with reported amounts).
Portfolio
11
Fund Size
$500M
Top Stage
Series A
Last 12 Mo
1
Team
Olga Danilchanka
Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
| PPAQ Therapeutics | Series B | $39M | May 2025 |
 ATB Therapeutics | Series A | $54M | Nov 2024 |
 Axonis Therapeutics | Series A | $115M | Oct 2024 |
 Aktis Oncology | Series B | $175M | Sep 2024 |
| Aktis Oncology | Series A | $84M | Aug 2022 |
 HotSpot Therapeutics, Inc. | Series C | $100M | Nov 2021 |
 Mozart Therapeutics, Inc. | Series A | $55M | Oct 2021 |
| HotSpot Therapeutics, Inc. | Series B | $65M | May 2020 |
 Kymera Therapeutics Inc. | Series B | $65M | Nov 2018 |
 Carisma Therapeutics Inc. | Series A | $53M | Jun 2018 |
 LifeMine Therapeutics | Series A | $55M | Sep 2017 |
Top Co-Investors
Last updated: 15 April 2026