Advent Life Sciences will manage an impact investment vehicle for Harrington Discovery Institute.
US-based hospital and accelerator operator Harrington Discovery Institute (HDI) has set up an impact investment fund to be managed by venture capital firm Advent Life Sciences.
The impact fund is structured alongside Advent Life Sciences’ third fund and brings a total of $215m of commitments to the firm.
Advent-Harrington Impact Fund is set up as a market rate investment fund with profits shared with HDI. It also has a partnership in place with Morgan Stanley Wealth Management to funnel philanthropic money…
