Tembusu Partners Private Limited

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 is a Singapore-based private equity firm which invests in technology start-up companies.

Overview

The venture capital firm has invested in growth companies in industries including education, healthcare, software and technology. The firm was founded in 2006 by four Singapore-based business families - Andy Lim (spouse of former Singapore politician Lim Hwee Hua),[1] Tan Kim Seng (founder of KS Energy), Tan Boy Tee (founder Labroy Marine) and Chew Hua Seng (founder of Raffles Education).[2] They are headquartered in Singapore with offices in Shanghai and Qingdao.

The company has invested in technology start-ups such as cricket digital platform CricHQ[3] and cybersecurity firm Sixscape Communications,[4] as well as in coal assets[5] and education.[6]

In 2014, the company announced plans to float a US$100 million fund targeted at China's media and entertainment industry, together with Bona Film Group, and former nominated member of parliament and entrepreneur Calvin Cheng.[7][8]

Investment Funds

Tembusu Growth Fund I, Tembusu Growth Fund II, Tembusu Growth GIP Fund and Tembusu Growth Fund III have been awarded Pioneer Status with zero-rated tax incentive for both the fund and the fund management company by Singapore's Inland Revenue Department (IRAS) under section S13H of the Singapore Income Tax Act.

TGIP was awarded a “Preferred Provider” rating by independent fund rating agency Mercer (Singapore) and Contact Singapore. ICT Fund I is one of only six funds selected by National Research Foundation (NRF) as part of the Early Stage Venture Fund (ESVF) II Scheme.

Founders and directors

Founders

Andy Lim, spouse of former Cabinet minister Lim Hwee Hua, is the founder of the firm and is chairperson of equity crowdfunding platform FundedHere,[9] chairman and controlling shareholder of publicly-listed company Viking Offshore & Marine. He is also the executive director of Associated Leisure International, a family holding company, and the chairman of MoneyWorld Group of Companies. In September 2004, Lim was appointed Honorary Consul to the Republic of Lithuania.[10]

Tan Kim Seng is the founder and former Executive Chairman of KS Energy Services. He started the company as an 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.

Tan Boy Tee is one of the four founders of Tembusu Partners. His investments include Ezion Holdings and Viking Offshore & Marine. Through privately-held holding company Bestford Capital, he also has investments in the oil and gas and hospitality sectors, including a majority stake in US hotel chain Red Roof Inn. Tan has delegated his role and responsibilities to his son Thomas Tan for decisions relating to Tembusu Partners.

Chew Hua Seng is the founding chairman and CEO of private education provider Raffles Education Corporation, which has 30 colleges and universities in 13 countries. He has since sold his stakes in Tembusu Partners to Thomas Tan, son of Tan Boy Tee.

Directors

Lim Hwee Hua is an executive director of Tembusu and wife of founder Andy Lim. She was in politics for 15 years and a Cabinet minister of Singapore from 2009 to 2011. She joined Tembusu after quitting politics in 2011. Lim has also served as the Managing Director at Temasek Holdings (2000-2004).[11][12]

Yeo Cheow Tong was the former Minister for Transport of Singapore (2001 – 2006) and former Member of Parliament for Hong Kah Group Representation Constituency. He has held different Ministerial positions including Health, Community Development, Trade and Industry and Environment.[13]

References

  1. ↑ "Tembusu Partners invests $13.4 million into cricket technology firm". The Straits Times. 16 June 2015.
  2. ↑ "Tembusu plans plans $1 bil property fund; cuts stake in Artivision" (PDF). The Edge Singapore. 25 July 2011.
  3. ↑ "Tembusu Partners invests $13.4 million into cricket technology firm". The Straits Times. 16 June 2015.
  4. ↑ Meixian, Lee. "Cybersecurity firm Sixscape Communications raises S$2m from Tembusu fund". The Business Times.
  5. ↑ "Singapore's Tembusu Partners invests $7.5 million in Param Mitra Coal Resources". The Economic Times. 3 July 2014.
  6. ↑ Cheok, Jacquelyn. "Tembusu sells 36% interest in Ednovation for over S$50m". The Business Times.
  7. ↑ Eu, Geoffrey. "The China story keeps getting better". The Business Times.
  8. ↑ Frater, Patrick (10 December 2014). "China's Bona and Singapore's Tembusu To Create $100 Million Private Equity Fund". Variety.
  9. ↑ Kan, Francis. "Negotiating a delicate balance". The Business Times.
  10. ↑ "Interview with Mr Andy Lim, Honorary Consul of Lithuania in Singapore". sgpchamber.com.
  11. ↑ "Former minister Lim Hwee Hua's new book discusses Govt's role in business". The Straits Times. 31 October 2013.
  12. ↑ Sudharman-Chan, Faith. "Striking the perfect balance" (PDF). Millionaire Asia. Retrieved 18 December 2017.
  13. ↑ "Yeo Cheow Tong". Tembusu Partners.
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