The venture capital arm of Abu Dhabi’s sovereign wealth fund is planning to launch a healthcare fund in 2021.
Mubadala Ventures is reportedly looking to capitalise on an increased global demand for life sciences and digital healthcare services in the wake of the current coronavirus outbreak, according to Reuters.
“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,” said Ibrahim Ajami, head of Mubadala Ventures.
“Our view is that investments in this space… are only going to accelerate moving forward,” he said.
Ajami also stated that the current pandemic will also highlight the role of technology in developing new healthcare facilities. “It is proven now that one epidemic like this can bring down the entire world. The role of technology becomes very, very important, especially in life sciences and the healthcare space.”
Ajami added that he expected the new fund to be bigger than any of its previous launches, including a $437 million European fund launched in 2019.
The sovereign wealth fund has a history of investment in healthcare and technology, including VIR Biotechnology, which is currently focused on developing a potential treatment for Covid-19.
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