Singapore based investment company-Temasek to invest $800Mn in Verily Life Sciences. With the investment Temasek will have a minority stake in the company.
This investment by Temasek will help Verily to commercialize and expand its healthcare solutions globally. Also in the deal is a condition that lets Temasek nominate director to the operating board in Verily.
About Verily Life Sciences
Verily is Alphabet Inc.’s research organization devoted to the study of life sciences. The organization was formerly a division of Google X, until 10 August 2015 when Sergey Brin announced that the organization would become an independent subsidiary of Alphabet Inc. On December 7, 2015, Google Life Sciences was renamed Verily.
About AlphabetAlphabet Inc. is an American multinational conglomerate founded on October 2, 2015, by the two founders of Google, Larry Page and Sergey Brin, with Page serving as CEO and Brin as President.
Alphabet’s portfolio encompasses several industries, including technology, life sciences, investment capital, and research. Some of its subsidiaries include Google, Calico, GV, CapitalG, Verily, X, and Google Fiber. Some of the subsidiaries of Alphabet have altered their names since leaving Google—Google Ventures becoming GV, Google Life Sciences becoming Verily and Google X becoming just X.
Temasek Holdings is a state-owned holding company that can be characterized as a National Wealth Fund owned by the Government of Singapore. Incorporated in 1974, Temasek owns and manages a net portfolio of $180 billion (as of 31 March 2016), mainly in Singapore and Asia.
It is an active shareholder and investor, and its portfolio covers a broad spectrum of sectors including financial services, telecommunications, media and technology, transportation and industrial, life sciences, consumer, real estate, as well as energy and resources. Temasek has a multinational team of over 580 people, in 11 offices globally including Singapore, New York, San Francisco, São Paulo, Mexico City, London, Beijing, Shanghai, Mumbai, Chennai and Hanoi.