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Tembusu Growth Fund II makes its first closing at S$80 million

Posted on 2 Dec 2010

Tembusu Growth Fund II, a leading private equity fund headquartered in Singapore announced today that it has successfully made its first closing at S$80 million.

Tembusu Growth Fund II is a S$300 million Pan-Asian private equity fund comprising of Tembusu Growth Fund II Ltd and Tembusu Growth GIP Fund Ltd (collectively known as “Fund II”) that will focus on producing investment performance through a disciplined investment process into late growth, profitable companies with the aim of taking these companies public. Fund II is aiming to invest in 15 entrepreneur-driven middle market companies operating in large Asian markets with strong growth, with an average investment size of S$15 million to S$20 million.

“Despite a challenging financial market in 2010, we managed to raise for our first close S$80 million from investors from 9 different countries including Sri Lanka, Hong Kong, Belgium, USA, China, Malaysia, Qatar, Indonesia and Sweden. We believe Fund II will benefit from a diversified international investor base through synergistic cross-border investment opportunities.” commented Mr Andy Lim, Chairman of Fund Manager Tembusu Partners Pte Ltd(“Tembusu Partners”).

Tembusu Partners launched its first S$100 million growth fund in late 2006. In 2009, Tembusu Partners entered into a joint venture agreement with the Jiangsu Provincial Government to launch a US$80 million Nanjing Growth Fund, investing in growth stage and mature stage companies focusing on clean technology, alternative energy, new materials, biotechnology and education.

Fund II is approved under the Global Investor Programme, where foreign investors with a S$2.5 million investment (with effect from January 2011) into Fund II are eligible to apply for a Permanent Resident status in Singapore.

Fund II is targeting to make its first investment in the first quarter of 2011.