When the crisis began, Margalit urged firms in his portfolio to do three things – rethink expenses, have enough cash for two years, and reposition their products to take advantage of a wildly different market. “We invest early stage, but also in the expansion phase; we have both early stage and later stage funds,” he added.

Now, it looks like the UAE is on his radar as well. “We’re looking to create a place, either in Dubai or Abu Dhabi,” he added. “There are about 10 of our companies that are beginning to invest in in Dubai and Abu Dhabi.

“Instead of each of them going their separate route, the first thing is for us to just co-locate them, give them business development, access to customer, and legal advice. As we co-locate our companies, we’re inviting Emirati companies in the same areas to come in.”

The hubs will facilitate investments in different sectors, especially healthcare, which is a big area of focus for the billionaire investor.

“Healthcare is going to change – post COVID-19. In almost every country you need large medical centers, but you also need community medicine,” said Margalit. “You also need to have diagnostics from home – It needs to be cheap and affordable.”

Food is also big on his agenda. “Cities need their own agricultural strategy,” said Margalit. “We also need alternative sources of protein, because we cannot continue to slaughter 5 million cows in the world.”