Tembusu Growth Fund I makes follow-on investment into ACTAtek Inc
Tembusu Partners is pleased to announce that Tembusu Growth Fund Ltd (“TGF I”) has invested an additional S$1.5 million in ACTAtek Inc (“ACTAtek” or “Company”), a leading manufacturer and developer of ACTAtek®, a web-based biometricRFID smart card access control and time attendance system.
ACTAtek recently entered into a distribution agreement with a large US distributor todistribute its proprietary systems for asset tracking, time attendance, and payroll solutions. The Company is also embarking on a listing process to achieve liquidity for its shareholderswithin the next 12 months.
Mr Andy Lim, Chairman of Tembusu Partners, views the latest investment in the Company as a springboard to reach its next level of growth. “ACTAtek is now poised to leverage on the continued growth of Asian markets as well as the recovery of selected US and European economies to capture further share of the market.”
Tembusu Partners continues to strongly support its Singapore portfolio companies and endeavours to maximize value for its investors.