Tembusu Partners Invests in Leading Pre-school Education Company, Ednovation Pte Ltd
Tembusu Growth Fund II Ltd (“TGFII” or “Tembusu”) is pleased to announce its fifth and largest investment to date in Ednovation Pte Ltd (“Ednovation” or the “Company”), a leading pre-school education content developer, and owner and operator of a chain of premium ChildFirst pre-schools in China and Singapore. Tembusu’s investment of S$20 million will support Ednovation’s plans to accelerate its growth in key cities across China and in Singapore.
Ednovation develops its unique EdnoLand eCurriculum for early childhood education that engages the next generation of digital natives who will learn, work and play using digital technologies such as tablets and smart phones. The EdnoLand eCurriculum is currently used by hundreds of pre-schools across Singapore, Malaysia and China. Ednovation also currently owns and operates 11 ChildFirst pre-schools in Chongqing, China, its first entry point into China, now commanding a 40% market share of the premium market there.
Mr Andy Lim, Chairman and Founder of Tembusu Pte Ltd, commented, “Education is one of the key target sectors at Tembusu, given the strong fundamentals underpinned by a growing middle class population and rising affluence in pan-Asia economies especially China. We are excited to partner Ednovation to replicate its success in Chongqing throughout other fast growing cities across China.”
Dr. Richard Yen, Founder and Managing Director, Ednovation remarked, “Ednovation’s vision is to ‘innovate education for future leaders’, and we see tremendous growth opportunities in Singapore and China, building on the strong foundation that we have established. I am pleased to partner Tembusu who shares our vision on the possibilities in this space and provides value-add to help us realise our full potential.”
Mr Chik Wai Chiew, Principal of Tembusu Pte Ltd and board member of Ednovation Pte Ltd, added, “Dr Richard Yen and his management team at Ednovation have steadfastly built up an impressive track record in pre-school education offering an unique value proposition for Asian parents who seek to nurture their children based on their unique talents, to be truly bilingual and technology savvy. We see great promise and scalability in Ednovation’s product offerings and business model, and will proactively support Ednovation to grow organically, seek acquisition opportunities, and develop strategic partnerships by leveraging on Tembusu’s networks and capabilities throughout Asia.”
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