Alphabet’s Verily Preps for China Entry With Temasek Funds
- Funds will support the biotech firm’s entrance into Asia
- Investment is first outside investor for Google’s Other Bets
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Alphabet Inc.’s medical arm Verily Life Sciences LLC is getting a major influx of cash from a Singapore-based investment company, boosting the odds of taking their futuristic approach to healthcare into Asian markets.
Temasek Holdings Pte Ltd, a state-owned firm, is investing $800 million in Verily, according to a statement from the company Thursday. In exchange, Temasek will get a minority stake in Verily and a seat on its operating board.