Temasek Trust-backed ABC World Asia closes new $283m fund for impact investments

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Singapore-based private equity fund ABC World Asia has closed its inaugural S$385 million ($282.5 million) fund to invest in companies that demonstrate a commitment to sustainable development and the generation of positive social or environmental impact.

The fund saw participation from investors including Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, and Sembcorp Industries, according to a statement.

ABC World Asia, a private equity fund dedicated to impact investments, was established in May this year by Temasek Trust, the philanthropic arm of Singapore investment company Temasek.

The fund will look for companies that demonstrate a commitment to generating positive, measurable social or environmental impact, alongside the ability to deliver compelling risk-adjusted returns. It will primarily invest in companies in South Asia, Southeast Asia, and China.

“While the industry is still at its early stages of development, we already see a range of opportunities to participate in impact investing across Asia. The investors in our fund bring deep and complementary experience spanning various markets and sectors. With their support, we believe we are well-positioned to identify and invest in good companies that seek to deliver positive impact alongside a sustainable financial return,” said David Heng, CEO, ABC World Asia.

ABC World Asia will focus on themes including – financial and digital inclusion; better health and education; climate and water solutions; sustainable food and agriculture; and smart and liveable cities.

Established in 2007, Temasek Trust is an independent Trustee of philanthropic endowments and gifts. The fund’s investments are guided by Temasek’s vision of an ABC World, comprising an Active Economy, a Beautiful Society and a Clean Earth.

In June, UOB Venture Management (UOBVM), the private equity investing arm of Singapore-based banker UOB, made a soft launch of its second impact vehicle, Asia Impact Investment Fund (AIIF II) that is set to come to market in the latter part of this year.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.