21 October 2025
The Adjuvant model pursues meaningful, measurable social impact on top of its financial return objectives
History
Their roots date back to efforts by the Bill & Melinda Gates Foundation and J.P. Morgan to test the idea of building an impact investment portfolio from the most promising drug, vaccine, diagnostic, and medical device technologies that address high-burden public health challenges, neglected infectious diseases, and maternal/infant mortality. An emerging track record of success suggests it is possible to have one’s cake and eat it too, as these technologies are increasingly being commercialized at scale and are observably improving public health in historically overlooked markets.
Adjuvant was formed by veterans of these efforts as an independent asset management firm designed to scale-up the public health investment model pioneered by this earlier work.
