Tembusu Partners Private Limited
| Private Ownership | |
| Industry | Private Equity |
| Founded | 2006 |
| Headquarters | Singapore |
| Products | Private equity funds |
| Total assets | SGD 265 million |
| Website | tembusupartners.com |
Tembusu Partners Private Limited is a Singapore-based private equity fund manager specializing in growth capital. The firm was founded in 2006 by four Singaporeans - Andy Lim, Tan Kim Seng, Tan Boy Tee and Chew Hua Seng.
As of 31 December 2012, Tembusu Partners had SGD 265 million in Assets Under Management (AUM) across three funds - Tembusu Growth Fund I (TGF I) (2007), Tembusu Growth Fund II (TGF II) (2010) and Tembusu China Growth Fund (2011).
The current fund, TGF II, has been rated a “Preferred Provider” by Mercer in March 2012, an approved fund under the Singapore Global Investor Programme (GIP).
Tembusu Partners primarily makes growth capital investments in Singapore and Emerging Asia with a focus on healthcare, technology, natural resources, and education.
In September 2011, Tembusu Partners won the “Best PE-backed Exit” at the Singapore Venture Capital and Private Equity Association Awards for its exit of its investment in Artivision Technologies Ltd in June 2011.[1]
Tembusu Partners is a Capital Markets Services (CMS) licensed fund manager regulated by the Monetary Authority of Singapore. They are headquartered in Singapore with offices in Shanghai, Nanjing and Beijing.
Portfolio
As of January 2013, Tembusu Partners holds SGD 265 million AUM. Chairman and Founder Andy Lim leads the Investment Committee along with Lim Hwee Hua, Yeo Cheow Tong, and Thomas Tan.
Under the current TGF II and TGIP fund, they hold investments in four companies in the technology, media, and healthcare industries. Their portfolio includes Greenlots,[2] a provider of charging networks for electric vehicles, Justing Technology, a LED lighting solutions company, OOB Media, a digital outdoor advertisement company, and Reka Health, a telehealth solutions provider.[3]
Investment Funds
Tembusu Growth Fund I (TGF I)
Launched in 2007, Tembusu Growth Fund I (TGF I) was conceptualized to leverage on Singapore’s friendly business environment and centrality amongst the growth industries in South East Asia. TGF I focused on investing into selected Singapore or Singapore-related companies that fit within the Manager’s operating experience and relationships in industry sectors including oil and gas, metals processing and reprocessing, education and technology. The fund successfully raised SGD 100 million and invested in 17 portfolio companies.
TGF I was advised by a Board that was constituted by a group of industry leaders with considerable experience and good standing in their respective areas of expertise.
The Fund was awarded Pioneer Status with zero-rated tax incentive for both the fund and the fund management company. The fund also qualified under the Global Investor Programme (GIP) by Singapore’s Economic Development Board (EDB), where foreign investors with SGD 1.5 million investment into the fund may apply for Permanent Resident (PR) status in Singapore.
Tembusu Growth Fund II (TGF II)
Launched in December 2010, Tembusu Growth Fund II takes on a similar strategy and approach to that of Tembusu Growth Fund I.
Tembusu Growth Fund II is a Pan-Asian private equity growth capital fund with a target fund size of SGD 300 million that focuses on producing investment performance through a combination of consistent investment philosophy and disciplined investment process. The Fund invests into growth companies belonging to their core industry sectors which include education, technology, resources and healthcare in the Chinese, Indian, and Southeast Asian markets with Singapore serving as the hub.
Tembusu Growth Fund II offers tax-free benefits two levels down and has a parallel fund - Tembusu Growth GIP Fund which is qualified under GIP by EDB, where foreign investors with a minimum of SGD 2.5 million investment into the fund may apply for PR status in Singapore.
Tembusu Growth GIP Fund was awarded a “preferred provider” rating by independent fund rating agency Mercer (Singapore) and Contact Singapore.
Tembusu Growth GIP Fund (TGIP)
Launched in December 2010, Tembusu Growth GIP Fund is a parallel fund to Tembusu Growth Fund II for foreign investors seeking permanent residency (PR) in Singapore under GIP, with a minimum of SGD 2.5 million investment into the fund. Tembusu Growth GIP Fund is a Pan-Asian private equity growth capital fund with a target fund size of SGD 150 million. Nanjing Growth Fund
Tembusu Partners and Nanjing Venture Capital launched the joint-venture fund management company He Ding Investments to manage the Nanjing Growth Fund in August 2009. The Vice Mayor of Nanjing Government Shen Jian issued the license to He Ding Investment.
Tembusu Partners is the first Singaporean-based private equity firm to establish an investment company in Jiangsu, China.
The Nanjing Growth Fund is targeted to raise USD 80 million, half of which has been raised within China as a Renminbi fund sponsored by the Nanjing Government and institutional investors in Nanjing. The concept is to propose a model of “Professional Fund & Professional Management.” The main investment targets are raw materials, solar energy, telecommunications, life sciences, eco-environmental and other high-end technological businesses. They focus on investing in the Nanjing, Jiangsu and Yangtze Delta area.
Founders
Andy Lim
Chairman (Founder)
Mr Andy Lim is the founder and Chairman of private equity firm Tembusu Partners and the Chairman and controlling shareholder of a publicly listed company Viking Offshore & Marine Limited. He is also the Executive Director of Associated Leisure International, a family holding company and Chairman of MoneyWorld Group of Companies.
His other Board appointments include Chairman of the Overseas Experts Council (Singapore Branch) of Peking University’s China Centre for Strategic Studies, President of the Enterprise 50 Association, a leading association of the top 50 privately held companies in Singapore and a member of the Home Affairs Uniformed Service (HUS) INVEST Board of Trustee. He was the Chairman of Alpha Singapore (2002 – 2013), Council Member of the National Council for Anti-Drug Abuse (NCADA) (2005 – 2012) and as Chairman of government cooperative for ex-offenders, ISCOS (2006 – 2012). In September 2004, Mr Lim was appointed Honorary Consul to the Republic of Lithuania. The Shanghai-Pudong Branch of the China Overseas Friendship Association also appointed him as one of its Council members in May 2005.[4]
Mr Lim took an Overseas Merit Scholarship to study Engineering in Cambridge University where he graduated with First Class Honors in 1979. After an 8 year stint with the Singapore government, he went on to receive an MBA Degree at University of California at Los Angeles (UCLA) in 1989.[5]
Tan Kim Seng
Senior Advisor & Co-Founder
Tan Kim Seng is the founder and former Executive Chairman of KS Energy Services Ltd. He started the industrial hardware business in 1974 and subsequently expanded its range of business to rig refurbishment, oil and gas equipment, hydraulic equipment, spares and parts and instrumentation. He has more than 30 years of experience in the trading business and has been instrumental in spearheading the growth of KS Energy Services Group. He is crucial in formulating the business strategies and directions of the KS Energy Services Group.
Besides his business interest, he is also involved in grass root organizations. He is currently the Patron of Hong Kah North Citizens’ Consultative Committee. He graduated from the Nanyang University with a Bachelor of Science (Mathematics) degree in 1974.[6]
References
- ↑ Tembusu Wins SVCA 'Best Exit' Award Singapore Real Estate Highlights, Oct 2011
- ↑ Greenlots Secures Funding Round Led by SBI Ven Capital and Tembusu Partners 24 June 2011
- ↑ REKA Health Receives $4 Million From Tembusu Partners TechInAsia, Feb 2012
- ↑ Andy Lim: Executive Profile BusinessWeek, 8 Apr 2013
- ↑ tembusupartners.com, Andy Lim
- ↑ tembusupartners.com, Tan Kim Seng