Verily Life Sciences receives $800M from Singapore-based fund

Verily Life Sciences, a subsidiary of Alphabet, is partnering with Temasek, a Singapore-based investment company, to advance its commercialization plans in global markets. 

Temasek will invest $800 million in Verily for a minority stake in the company. Additionally, Temasek will nominate a director to Verily's operating board.

Temasek has a net portfolio value of $180 billion, predominantly in Singapore and Asia. However, the investment company recently announced an increased focus on North American technology ventures. It established an office in San Francisco in late 2016.

Verily, a life sciences research and engineering organization, focuses on improving healthcare outcomes by combining data organization and analytics services with scientific and product engineering expertise. It partners with life sciences, medical device and government organizations.

Verily will receive a majority of Temasek's investment in the near future and the remainder in the second half of 2017.

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