Temasek names GGV Capital’s Jenny Lee to board of directors

Jenny Lee, Managing Partner, GGV Capital

Singapore state investment firm Temasek Holdings has appointed Jenny Lee, managing partner at global venture capital powerhouse GGV Capital, to its Board of Directors.

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.

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.