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Temasek Leads $50 Million Series B for PEAR Therapeutics

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U.S.-based digital health firm PEAR Therapeutics has closed US$ 50 million in Series B financing led by Singapore’s Temasek Holdings. The funding round also received contributions from the corporate investment unit of the Singapore Economic Development Board, as well as a number of returning healthcare-centric investors, including 5AM Ventures, Arboretum Ventures, Jazz Venture Partners, Novartis, and the Bridge Builder’s Collaborative.

2017 was a banner year for PEAR’s most prominent products, reSET – which became the first digital therapeutic to be approved by the U.S. Food and Drug Administration (FDA) for the treatment of substance addiction – and reSET-O – an adjunct to pharmacotherapy designed to treat opioid abuse specifically that has received the FDA’s coveted Expedited Access Pathway designation for accelerated clearance. Temasek is taking a bet that the substance abuse treatment market is expected to grow in developed markets like the United States.

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Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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