Singapore's Tembusu launches $149m in China funds
Singapore-based private equity firm Tembusu Partners has confirmed it will launch a series of funds to invest at least RMB1 billion ($149 million) in Chinese growth-stage companies.
Tembusu, which has recently been granted regulatory approvals to make direct investments in the country, will primarily target technology, infrastructure, healthcare, tourism, and impact-related projects. The firm said it has entered into a partnership with a state-owned entity in Guizhou province that will be able to help portfolio companies access financial incentive schemes from the government.
“The funds we intend to launch will enable Tembusu to bridge the investment communities of China, Southeast Asia and the rest of the world through accelerated deal flows,” Andy Lim, founder and chairman of Tembusu, said in a statement. “As China continues to open up and connect with the world, the funds will pave the way for more to participate, starting from Guizhou.”
Tembusu was founded in 2006 and opened its Guizhou office in 2017. As part of its China drive, the firm has appointed Lim Ming Yam, former CEO of Singaporean real estate developer CapitaLand, as chairman of an advisory board focused on the country. Previous efforts in this vein include a partnership with entrepreneur Shengdong Pang that aims to build ties between the Chinese and Southeast Asian software ecosystems.
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