UAE sovereign wealth fund, Mubadala, has expanded its life sciences portfolio following an investment in pharma company, Envision.
The deal was arranged by European specialist investor Global Healthcare Opportunities Capital Partners with Mubadala featured as the lead investor.
Other members of the consortium included US-based private equity fund of funds HarbourVest Partners and US life insurer Northwestern Mutual.
Mubadala has also led a US$700 million funding round for US-based logistics hub operator Reef Technology. Fellow investors included UBS Asset Management, Target GlobalVC, Oaktree and SoftBank Vision Fund.
The UAE also purchased a stake in local artificial intelligence company Group 42 capping a busy November. “For Mubadala, this decision is consistent with our strategy of investing in next-generation technology companies that are poised for substantial growth,” said chief executive Khaldoon Khalifa Al Mubarak.
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