Bill Taranto

And then we really started focusing heavily on sort of that INML and drug discovery.

Data was one of the big areas.

We created a lot of big data companies.

DataVant, which was merged with a company called Siox.

That was another big PE play.

That's today still one of the biggest data companies that are out there.

Trinetix is another one we did during that time, another data company.

That's a big global data company that provides the pharmaceutical industry with access to data and clinical trial information.

So a lot of interesting examples that got us started in that space in 2016.

But our property, our primary focus at 16 was really on our Merck Research Labs sort of use cases.

And sort of aside, that was sort of the first starting of this evolution.

And then we've evolved today into really investing heavily into supply chain.

Some of the other areas I mentioned are the four quadrants of where we invest.

It evolved over time.

But the initial starting place was, I would say, more in the AI and ML and drug discovery area.

critical development, and sort of that real-world evidence and data were the two big spaces we started in.

Well, what's interesting is the way we structured ourselves is we created ourselves as we're an independent LLC, but we are Merck employees.

We work under the Merck umbrella.

But our structure allows us to mimic a private firm so we can move at a speed that doesn't get caught up in the corporate machinations.

And so what happens with that structure is one thing is we don't need any champions within Merck to do an investment.