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Mubadala to launch a healthcare fund in light of Covid-19 outbreak

Mubadala healthcare
The fund will invest in digital health technology and life science

Mubadala has announced that it will launch a healthcare fund to tackle increasing demand due to the coronavirus outbreak, the media reported.

The healthcare fund will be launched by Mubadala’s venture capital arm and will invest in digital health technology and life science.Mubadala is expected to launch the healthcare fund in 2021.

Ibrahim Ajami, head of Mubadala Ventures told the media, “We are considering next year developing a sort of healthcare-specific fund that can be focused on life sciences and healthcare over the coming decade. Our view is that investments in this space are only going to accelerate moving forward.”

“It is proven now that one epidemic like this can bring down the entire world. The role of technology becomes very, very important, specifically in life sciences and the healthcare space.”

He further revealed that the size of the healthcare fund will be bigger than the funds earlier launched by Mubadala, such as the $437.24 million European fund last year.

Mubadala has also launched funds such as the $400 million US-focused fund and a $250 million Middle East and North Africa (MENA) fund in the last four years.

Mubadala has also invested in VIR Biotechnology, a healthcare firm that is developing a treatment for novel coronavirus, which has pushed the entire world in a state of lockdown.

Reportedly, Mubadala Investment Company is mulling investing in NMC Health, which is the UAE’s largest healthcare company. Mubadala is considering options such as buying a stake in NMC Health and also acquiring a board seat.

Mudabala’s decision to invest in NMC Health comes at a time when the healthcare company is undergoing an investigation by the UK’s Financial Conduct Authority over allegations of fraud.

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