The appointment, which takes effect from January 1, 2022, was confirmed by GGV Capital in a statement posted on its website Wednesday.
Lee, a Singaporean, has been a managing partner at GGV Capital since 2005 and is widely considered a leading venture capitalist, with a focus on edtech, robotics, and AI.
One of the most respected venture capital executives in China, Lee is also on the board of Nasdaq-listed firm Agora.io and Singapore-listed SATS.
GGV said Lee has been instrumental in helping 10 startups go public, including Agora, XPeng, and WPS. After joining GGV, she opened the firm’s first China office and later returned home to re-open its office in Singapore.
She also leads the fund’s global fundraising activities.
Prior to GGV, Lee worked at ST Aerospace as a fighter jet engineer. She has also served stints at Morgan Stanley and JAFCO Asia, according to her Linkedin profile.
“As a longtime advocate for entrepreneurs globally – and as a Singaporean – I am honored by this appointment. I look forward to lending my experience and passion for developing tech communities to Temasek’s mission of delivering sustainable value over the long term,” Lee said.
Temasek, which has offices in nine countries around the world, has a net portfolio value of about $238 billion as of March 31, 2021. Its charter defines its roles as an investor, institution, and steward.
Temasek’s Board of Directors provides overall guidance and policy directions to management. It operates on a commercial basis, with the added constitutional responsibility of protecting the firm’s past reserves.
Temasek’s annual board schedule includes quarterly two-day meetings, and additional meetings as needed, for significant large investments.
Some of the notable Temasek-backed companies that went public last year include Airbnb, which raised $3.5 billion to become the biggest US IPO of 2020, a year that was otherwise reeling under the adversities of the COVID-19 pandemic.
Temasek had invested in Airbnb in 2015 in a deal that valued it at just $25.5 billion. Today, the company is valued at over $100 billion.
In December 2020, food delivery firm DoorDash Inc, another Temasek portfolio company, raised $3.37 billion in its IPO, valuing the startup at $71.3 billion. Temasek had co-led DoorDash’s $400-million funding round in 2019.