Temasek’s High-Stakes Bet on Google’s Verily Life Sciences
Asian sovereign wealth funds march forward on their quest for innovative healthcare companies. Singapore’s Temasek Holdings invested US$ 800 million in Verily Life Sciences LLC, a spin-off of Alphabet (formerly known as Google) for a minority ownership stake. Verily Life Sciences, formerly known as Google Life Sciences, is a health and life sciences subsidiary of Alphabet. As part of the deal, Temasek will get a board seat on Verily Life Sciences.
Temasek is a known international healthcare and pharmaceutical investor backing both startup and growth companies. The benefit for Verily Life Sciences is exposure to an Asian market that wants to spend more money on technology and healthcare. At the moment, Verily Life Sciences makes most of its money by licensing its technology. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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