DUBAI: The venture capital arm of Abu Dhabi state investor Mubadala plans to launch a health care fund next year to tap into increased demand for investment in life sciences and digital health technology following the coronavirus outbreak.
“We are considering next year developing a sort of health care-specific fund that can be focused on life sciences and health care over the coming decade,” Ibrahim Ajami, who heads Mubadala’s Ventures business, said.
“Our view is that investments in this space ... are only going to accelerate moving forward.”
Ventures is part of state investor Mubadala Investment Co, which manages about $240 billion. The state investor has itself invested in the health care sector, including in Cleveland Clinic Abu Dhabi and home health care services firm Amana Healthcare, which it acquired last year.
Without giving specific detail, Ajami said he expected the new fund to be bigger than the Venture capital arm’s previous launches, such as a €400 million ($437.24 million) European fund launched last year as Ventures expanded its portfolio, initially focused on the United States, into Europe.
He predicted a proliferation of technologies and health care companies in the coming years, focused on areas such as quick testing, personal diagnosis of symptoms and developing supply chains around health care.
“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 health care space,” he said.
Ventures has invested in health care and life sciences over the past four years.
Apart from the European fund launched last year, Ventures manages a $400 million U.S-focused fund and a $250 million Middle East and North Africa (MENA) fund.
It also manages and oversees Mubadala’s partnership with SoftBank, including its $15 billion commitment to the SoftBank Vision Fund.
Mubadala’s venture arm has invested in VIR Biotechnology, which is developing potential treatment for COVID-19, the illness caused by the new coronavirus, and Innovaccer, a San Francisco-based health care technology company.
Abu Dhabi’s Mubadala Ventures plans health fund as coronavirus drives demand
https://arab.news/5ks4f
Abu Dhabi’s Mubadala Ventures plans health fund as coronavirus drives demand
- Ventures is part of state investor Mubadala Investment, which manages about $240 billion
- Proliferation of technologies and health care companies in the coming years predicted
Apple to update EU browser options, make more apps deletable
- iPhone maker came under pressure from regulators to make changes after the EU’s sweeping Digital Markets Act took effect on March 7
- Apple users will be able to select a default browser directly from the choice screen after going through a mandatory list of options
STOCKHOLM: Apple will change how users choose browser options in the European Union, add a dedicated section for changing default apps, and make more apps deletable, the company said on Thursday.
The iPhone maker came under pressure from regulators to make changes after the EU’s sweeping Digital Markets Act took effect on March 7, forcing big tech companies to offer mobile users the ability to select from a list of available web browsers on a “choice screen.”
The new rules require mobile software makers to show the choice screen where users can select a browser, search engine and virtual assistant as they set up their phones, which earlier came with preferred options from Apple and Google.
In an update later this year, Apple users will be able to select a default browser directly from the choice screen after going through a mandatory list of options.
A randomly ordered list of 12 browsers per EU country will be shown to the user with short descriptions, and the chosen one will be automatically downloaded, Apple said. The choice screen will also be available on iPads through an update later this year.
Apple released a previous update in response to the new rules in March, but browser companies criticized the design of its choice screen, and the Commission opened an investigation on March 25 saying it suspected that the measures fell short of effective compliance.
The company said it has been in dialogue with the European Commission and believes the new changes will address regulators’ concerns.
It also plans to introduce a dedicated area for default apps where a user will be able to set defaults for messaging, phone calls, spam filters, password managers and keyboards.
Users will also be able to delete certain Apple-made apps such as App Store, Messages, Camera, Photos and Safari. Only Settings and Phone apps would not be deletable.
