The big reorganization that saw Google Inc. turn into Alphabet Inc. last year was much more than just a branding update. The search giant has also decided to let external parties invest in its businesses.

Verily, the research group formerly known as Google Life Sciences, today announced that it has secured a massive $800 million in funding from Singapore’s state-owned Temasek Holdings Private Ltd. The firm makes investments on behalf of the nation’s Ministry of Finance and boasts a broad portfolio that is worth more than $180 billion by the most recent count. It also has a nonprofit arm that sponsors initiatives aimed at “developing practical solutions for a better life.”

One of them is the Temasek Life Sciences Laboratory, which conducts biotechnology research aimed at advancing medicine. Today’s investment in Verily is a natural extension the fund’s efforts. The move effectively kills two birds with one stone, helping further Temasek’s long-term scientific ambitions while buying it a stake in a business that may prove lucrative in the long run.

Verily is currently working on several projects that have to potential to make a tremendous impact on the life sciences industry. On the pharmaceutical front, the group is collaborating with GlaxoSmithKline plc to develop futuristic bioelectronic medicine that can reverse the effects of certain diseases. It’s also working to develop various hardware products aimed at improving long-term patient care.

At the same time, a spokesperson for Verily told The Wall Street Journal that the investment isn’t about the capital alone. The group apparently considers Temasek’s “deep understanding of growth economies in Asia, including China” to be an equally important asset, which suggests that it plans to expand into the region.

Image courtesy of Verily