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Tembusu Partners Sells Stake in Homegrown Education Group Ednovation to Private Equity Firm CDH Investments for Over S$50M

Posted on 12 Jan 2017

Singapore, 12 January 2017 – Tembusu Partners Pte Ltd (“Tembusu”) announced today that it has divested its 36% stake in homegrown education group, Ednovation Pte Ltd (“Ednovation”), to private equity firm CDH Investments (“CDH”), in a deal valued at more than S$50 million.

The disposal by Tembusu Growth Fund II Ltd (“TGF II”) and Tembusu Growth GIP Fund (“TGIP”) represents an internal rate of return (“IRR”) of more than 30% for the three years that Tembusu has held Ednovation.

TGF II is a S$110 million (US$85 million) Pan-Asian private equity growth capital fund with an investment focus on growth sectors such as education, healthcare and technology. TGIP is a parallel fund to Tembusu Growth Fund II.

Established in 1991, Ednovation operates more than 60 pre-schools in Asia under the brands Cambridge, ChildFirst and Shaws. Ednovation is also a pioneer in pre-school education technology with a unique early childhood e-curriculum, EdnoLand, with emphasis on bilingualism (English and Chinese) multiple intelligences and creativity. Ednoland is used by hundreds of third party pre-schools throughout the region.

Since Tembusu’s investment in May 2013, Ednovation’s revenue has increased four-fold. In addition to the pre-schools operating under Ednovation’s own ChildFirst brand, Ednovation acquired two pre-school chains, Cambridge Pre-schools and Shaws Preschools during this period.

Ednovation also grew its regional footprint from the initial 12 schools in 2013. It now operates 62 pre-schools with 24 in Southeast Asia, 16 in Singapore and 22 in China.

Ms. Emily Goh, Principal of Tembusu, said: “Ednovation has demonstrated its ability to seize the right opportunities in the education sector and has made a name for itself in Asia over the years. This successful exit is consistent with our track record of nurturing education businesses in Singapore and the region while creating value for investors.”

Dr. Richard Yen, Founder of Ednovation, said: “Ednovation has benefited substantially from Tembusu’s support as a strategic partner. We are ready for the next phase of growth with CDH as we set our sights on becoming one of the leading pre-school operators in the region, especially in China where the recent easing of the one-child policy will bode well for the pre-school market over the long haul.”

Dr. Yen added that Ednovation will play an important role in future-proofing Asia’s next generation. “With artificial intelligence and robots displacing away many jobs, Asia needs to evolve from being a manufacturing capital to becoming the creative capital of the world. Ednovation’s vision is to develop creative minds to help power Asia’s future.”


Issued on behalf of Tembusu and Ednovation by WeR1 Consultants Pte Ltd:
Media Contact:
WeR1 Consultants Pte Ltd 3 Phillip Street, #12-01 Royal Group Building, Singapore 048693 Tel: (65) 6737 4844
Rachael De Foe:
Ian Lau:

About Tembusu Partners Pte Ltd
Tembusu Partners is a private equity investment firm that invests in promising early and growth-stage companies with a view to generate optimal returns for both investee companies and investors. Besides supporting its investee companies through mezzanine and equity financing, it also lends operational expertise to help them grow. Headquartered in Singapore, its primary geographical markets are within Emerging Asia – comprising China, India and Southeast Asia.

For more information on Tembusu Partners, please visit:

About Ednovation Pte Ltd

Ednovation Pte Ltd (“Ednovation”), founded in 1991, is a pioneer in developing e-curriculum for early childhood education. Its EdnoLand e-curriculum, with emphasis on bilingualism (English and Chinese) and creativity, is used by hundreds of third-party pre-schools in Asia and has influenced the life of more than 500,000 children.
In 2007, using the EdnoLand e-curriculum, Ednovation established its first ChildFirst Pre-school. Since then, Ednovation has grown to a chain of 62 pre-schools in Asia under the brands of ChildFirst, Cambridge and Shaws. These three pre-school brands cater to the different needs of parents and children: ChildFirst provides a structured immersive bilingual programme, while Shaws’ approach is play-based, and Cambridge’s curriculum focuses on balancing academic preparation with real-world experiences.

Dr. Richard Yen, the Singaporean founder of Ednovation, is a Harvard PhD entrepreneur who is bilingual and is at ease doing business in Singapore, China and the USA. He believes in “future-proofing your child” to prepare them for success in a world where artificial intelligence and robots will take away many jobs. Dr. Yen walks the talk and is using this approach to future-proof his own children.

For more information on Ednovation, visit: