Temasek Holdings is a Singapore-based investment company founded in 1974. The firm specializes in providing debt financing and is dedicated to transforming economies, enhancing middle-income populations, and fostering emerging champions. Temasek operates across various sectors, including financial services, transportation, industrial, consumer goods, real estate, telecommunications, media, technology, and life sciences. Its strategic focus is on developing comparative advantages within these industries to support sustainable growth and innovation.
Managing Director, Investment (Credit and Hybrid Solutions)
Gary Ang
Managing Director, Macro Strategy
Parimal Aswani
Managing Director, Technology
Ravi Balasubramanian
Managing Director, Portfolio Development, New Energy and Industrials
Siddartha Bhattacharjee
Head of Mobility and Logistics and Managing Director of Portfolio Strategy & Risk Group
Eric Bielke
Director
Dawn Chan
Director of Investments
Yuliang Chang
Managing Director, Investment (China)
Eu Chua
Managing Director, Institutional Relations and Singapore Market
Ranjit Dandekar
Managing Director, Investment
Nagi Hamiyeh
Senior Managing Director
Reena Kanagasingam
Managing Director, Investment (Public Markets)
Ming Pey Lim
Chief of Staff, Executive Office, Deputy Chief Corporate Officer and Managing Director, Strategy Office
Paul Liu
Managing Director, Investment (Financial Services), Portfolio Strategy and Risk Group
Anuj Maheshwari
Head, Agri-Food Managing Director, Investment (Middle East and Africa)
Nicolas Meier
Managing Director, Investment (EMEA) and Director
Jingwen Miao
Managing Director, Investment (China)
Suranjan Mukherjee
Managing Director, Cross Asset Macro Portfolio and Joint Head, Public Market Investment Strategies
Ryan Rakestraw
Director
Parangam Ray
Managing Director, Organisation and People
Pierce Scranton
Managing Director, Institutional Relations and Deputy Head, North America
Shaun Seow
Managing Director, Singapore Market and Head, Community Stewardship
Jason Sun
Chief Representative, Beijing and Managing Director, Investment (China)
Belinda Tan
Managing Director, Finance (Financial Management)
Man-Keung Tang
Managing Director, Macro Strategy
Sulian Tay
Operating Partner
Karen Toh
Managing Director, Finance (Treasury)
Damien Vacherot
Director
Benoit Valentin
Senior Managing Director EMEA and Head of Private Equity Fund Investments
Rob Williams
Managing Director, Investment (EMEA)
Yibing Wu Ph.D
CEO, China
Past deals in Singapore
Marketnode
Series A in 2024
Marketnode is a joint venture between SGX Group and Temasek, serving as a neutral digital markets infrastructure in the Asia-Pacific region. The company operates two primary platforms: Gateway and Fundnode. Gateway functions as a comprehensive, end-to-end platform that enhances workflows and reduces time to market by leveraging tokenisation technologies. Fundnode acts as Singapore's investment fund utility on blockchain, streamlining transaction management, funds processing, and record-keeping for the funds ecosystem. Marketnode also collaborates with fixed-income issuance platforms to integrate post-trade and asset servicing infrastructure, addressing the growing demand across various asset classes, including sustainable finance. Through its innovative solutions, Marketnode aims to facilitate a seamless issuance-to-settlement network for market participants involved in Asia bonds and beyond.
Well-Link Tech
Series B in 2022
Well-Link is a cloud rendering solutions provider with headquarters in Singapore.
Whale
Series C in 2022
Whale provides an omnichannel marketing platform that transforms marketing operations, digitalizes store operations and unifies offline & online brand experiences leveraging AI + IoT + Big Data to “Connect Brands with Customer”. Founded in 2017, Whale has since empowered 1000+ global FMCG, F&B, Fashion and Automotive brands including P&G, Unilever, Starbucks, UNIQLO, ARMANI, Watsons, Xiaomi, Midea, Lotus, POP MART etc. with over 150,000 stores across APAC, enabling brands to embrace the full potential of digital transformation. Equipped with AI capabilities, patented ReID technology and enterprise-grade security, Whale platforms comprising of Space Data Platform (SDP), Whale Marketing Cloud (WMC), Whale Open Platform (WOP) and Whale Analytics, serve as the end-to-end digitalization engine that enables brands to seamlessly engage with each customer. Whale is backed by Temasek Holding, NIO Capital, Source Code Capital, Linear Capital, Alpha Commune, BAI Capital and The Jiangmen, with 6 offices across Singapore, Hangzhou, Shanghai, Beijing and Shenzhen.
Next Gen Foods
Series A in 2022
Next Gen Foods is a food-tech startup that offers plant-based meat products. Its plant-based products look and taste like meat and are developed using agricultural food ecosystems helping consumers to have foods that are rich in protein and nutrients. The company was founded in 2020 and is headquartered in Singapore.
ONE Championship
Venture Round in 2021
ONE Championship is Asia's largest sports media property with a global broadcast to over 1 billion potential viewers across 128 countries. Headquartered in Singapore, the world’s most exciting martial arts organization is home to some of the greatest martial artists in the world, hosting Asia's greatest sports entertainment events in the largest stadiums of the most iconic cities across the region.
Carro
Series C in 2021
Carro is an automotive marketplace that offers a full-stack service for all aspects of car ownership. It challenges the traditional way of buying and selling of cars through a proprietary pricing algorithm. Carro also provides a range of services that offer everything a car owner needs throughout their car ownership journeys such as an in-house financing solution warranty options and Singapore’s first on-demand roadside recovery platform. The company was founded in 2015 and is headquartered in Singapore.
J&T Express
Private Equity Round in 2021
J&T Express is a logistics service provider focused on express delivery and courier services, primarily supporting the e-commerce sector. Founded in 2015 and headquartered in Jakarta, Indonesia, the company operates automated sorting warehouses in Indonesia and Singapore. J&T Express has established itself as a leading player in the express delivery market across Southeast Asia, offering services in 13 countries. By partnering with major e-commerce platforms, J&T facilitates the growth of its clients, enabling them to expand into new markets effectively. Its commitment to efficient logistics and innovative solutions positions J&T Express as a key player in the rapidly evolving logistics landscape.
SaladStop!
Series B in 2021
SaladStop! is a leading player in the healthy food movement in Singapore, focusing on making nutritious food convenient and accessible. The restaurant chain specializes in salads, grain bowls, wraps, and smoothies that are made without artificial flavors or coloring, ensuring nutritional transparency for consumers. With 23 outlets currently operating in Singapore and Manila, SaladStop! is on track to expand further into Indonesia and Japan, aligning with its vision of becoming a prominent global name in nutrition, health, and wellness. The company is dedicated to providing delicious and climate-positive food choices, catering to the growing demand for healthier eating options.
ShopBack
Series E in 2021
ShopBack is a leading online shopping platform in Southeast Asia that enables consumers to make smarter purchase decisions through cashback rewards. Operating in countries such as Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, ShopBack processes over 1,000 orders per hour and offers cashback of up to 30% to enhance consumers' purchasing power. The platform connects users with more than 1,300 merchant partners, including well-known brands like Uber, Expedia, and Lazada, providing a diverse range of deals and incentives. In addition to benefiting consumers, ShopBack delivers cost-effective marketing solutions to its merchant partners. The company has received multiple accolades for its innovative approach, including awards at the Singapore Infocomm Technology Federation Awards and the Emerging Enterprise Award, highlighting its significant impact in the e-commerce sector.
Allay Therapeutics
Series C in 2021
Allay Therapeutics is focused on developing innovative pain management solutions aimed at improving post-surgical recovery for patients. The company utilizes a proprietary technology platform that integrates validated non-opioid analgesics with biopolymers to create dissolvable therapeutic products. These products are designed to deliver targeted pain relief at the surgical site over extended periods, significantly longer than conventional pain treatments. Allay's lead investigational product, ATX101, is currently undergoing evaluation in a Phase 2 clinical trial for total knee arthroplasty surgeries. With a team of experienced entrepreneurs, scientists, and clinicians based in the San Francisco Bay Area and Singapore, Allay Therapeutics is dedicated to transforming the approach to pain management and addressing the limitations associated with opioid use.
Whale
Series B in 2021
Whale provides an omnichannel marketing platform that transforms marketing operations, digitalizes store operations and unifies offline & online brand experiences leveraging AI + IoT + Big Data to “Connect Brands with Customer”. Founded in 2017, Whale has since empowered 1000+ global FMCG, F&B, Fashion and Automotive brands including P&G, Unilever, Starbucks, UNIQLO, ARMANI, Watsons, Xiaomi, Midea, Lotus, POP MART etc. with over 150,000 stores across APAC, enabling brands to embrace the full potential of digital transformation. Equipped with AI capabilities, patented ReID technology and enterprise-grade security, Whale platforms comprising of Space Data Platform (SDP), Whale Marketing Cloud (WMC), Whale Open Platform (WOP) and Whale Analytics, serve as the end-to-end digitalization engine that enables brands to seamlessly engage with each customer. Whale is backed by Temasek Holding, NIO Capital, Source Code Capital, Linear Capital, Alpha Commune, BAI Capital and The Jiangmen, with 6 offices across Singapore, Hangzhou, Shanghai, Beijing and Shenzhen.
Next Gen Foods
Seed Round in 2021
Next Gen Foods is a food-tech startup that offers plant-based meat products. Its plant-based products look and taste like meat and are developed using agricultural food ecosystems helping consumers to have foods that are rich in protein and nutrients. The company was founded in 2020 and is headquartered in Singapore.
Next Gen Foods
Seed Round in 2021
Next Gen Foods is a food-tech startup that offers plant-based meat products. Its plant-based products look and taste like meat and are developed using agricultural food ecosystems helping consumers to have foods that are rich in protein and nutrients. The company was founded in 2020 and is headquartered in Singapore.
ShopBack
Series B in 2020
ShopBack is a leading online shopping platform in Southeast Asia that enables consumers to make smarter purchase decisions through cashback rewards. Operating in countries such as Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, ShopBack processes over 1,000 orders per hour and offers cashback of up to 30% to enhance consumers' purchasing power. The platform connects users with more than 1,300 merchant partners, including well-known brands like Uber, Expedia, and Lazada, providing a diverse range of deals and incentives. In addition to benefiting consumers, ShopBack delivers cost-effective marketing solutions to its merchant partners. The company has received multiple accolades for its innovative approach, including awards at the Singapore Infocomm Technology Federation Awards and the Emerging Enterprise Award, highlighting its significant impact in the e-commerce sector.
Sunseap
Series D in 2020
Sunseap is a Singaporean company specializing in solar and clean energy solutions, established in 2011. It offers a comprehensive range of services, including project financing, design, installation, and maintenance, aimed at providing cost-effective clean energy alternatives. Sunseap operates as both a licensed Electricity Wholesaler and Retailer, which allows it to implement two primary business models: solar leasing and clean electricity supply. By leveraging its expertise in developing grid-connected photovoltaic power plants, Sunseap diversifies the energy portfolio for businesses and supports the transition to sustainable energy practices.
D’Crypt Pte
Acquisition in 2019
D’Crypt Pte Ltd. is a a company that provides cryptographic technology. D'Crypt designs and produces solutions in fields such as encrypted communications and high-performance computing, with a signature project being the computational and security technology behind Singapore's Electronic Road Pricing In-Vehicle Unit.
BasisAI
Seed Round in 2019
BasisAI is a Singapore-based company that develops an artificial intelligence platform aimed at enhancing enterprise growth and managing risk. Its technology allows for the secure deployment of AI models, tracking data provenance, and monitoring algorithmic integrity. The platform is designed to facilitate AI adoption in various sectors, particularly targeting financial technology and Internet firms. By ensuring AI explainability and providing the necessary structures and frameworks, BasisAI enables enterprises to integrate advanced AI capabilities effectively and responsibly.
ONE Championship
Series D in 2018
ONE Championship is Asia's largest sports media property with a global broadcast to over 1 billion potential viewers across 128 countries. Headquartered in Singapore, the world’s most exciting martial arts organization is home to some of the greatest martial artists in the world, hosting Asia's greatest sports entertainment events in the largest stadiums of the most iconic cities across the region.
Medisix Therapeutics
Series A in 2018
Medisix Therapeutics is a Singapore-based immune engineering company developing novel cellular therapies to address T cell malignancies. Their technology platform originates from world expert in translational immunology, Professor Dario Campana, MD, PhD, a physician scientist who pioneered chimeric antigen receptor T cell (CAR-T) biology. Their programs utilize proprietary immune engineering approaches that enable T cell leukemias and lymphomas to be targeted with cell therapy.
SenseTime
Series C in 2018
SenseTime Group Limited is an artificial intelligence company specializing in computer vision and deep learning technologies. Founded in 2014 and headquartered in Beijing, China, the company develops a wide range of AI solutions, including face and body analysis, image and video recognition, autonomous driving technologies, and medical image analysis. SenseTime's proprietary AI infrastructure, SenseCore, supports scalable and efficient AI software platforms tailored for various applications across sectors such as smart cities, intelligent transportation, healthcare, and finance. The company is also active in advancing industry standards related to data security and ethical AI practices, having contributed to numerous national and international guidelines. With a presence in multiple countries, including Japan, Singapore, and several locations in China, SenseTime aims to drive innovation and foster sustainable productivity through its AI technologies.
SMRT Corporation
Acquisition in 2016
SMRT Corporation Ltd is an investment holding company based in Singapore that specializes in multi-modal land transport services, both domestically and internationally. The company operates through various segments, including Rail Operations, which manages the mass rapid transit system and light rapid transit services; Bus Operations, which provides public bus services with a fleet of approximately 1,200 buses; and Taxi Operations, which offers taxi and rental services with around 3,500 taxis. Additionally, SMRT engages in commercial space leasing, advertising, engineering consultancy, and other support services. The company also provides charter hire and maintenance services, and operates an educational institution focused on transport-related training. Founded in 1987, SMRT Corporation Ltd has established itself as a key player in Singapore's transportation landscape.
InnoVen Capital
Acquisition in 2015
InnoVen Capital is a prominent venture lending firm based in Mumbai, India, with additional offices in Singapore and Beijing. Established in 2008, it was re-branded following a buyout by Temasek Holdings and UOB Group in 2015. As the first and largest venture debt provider in India, InnoVen Capital specializes in offering debt financing to high-growth and innovative technology startups across various growth stages and sectors. The firm has a strong credit rating, reflecting its financial stability and reliability. InnoVen Capital has facilitated over 190 loans to more than 150 startups throughout India and Southeast Asia, providing a range of debt capital solutions, including venture debt, acquisition finance, growth loans, and syndication.
Lazada Group
Series F in 2014
Lazada Group is a prominent online shopping and selling platform operating across Southeast Asia, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. The company connects over 100,000 local and international sellers, along with 2,500 brands, to a consumer base of approximately 560 million people in the region. Lazada's marketplace platform is designed to enhance the shopping experience by providing tailored marketing, data analytics, and service solutions for its partners. It is supported by a robust logistics network, which includes both first- and last-mile delivery services, ensuring efficient order fulfillment and customer satisfaction.
PatSnap
Series A in 2014
PatSnap is an innovation intelligence platform that specializes in providing insights related to intellectual property (IP) and research and development (R&D). Founded in 2007 and headquartered in Singapore, the company serves over 10,000 customers across more than 50 countries. Its platform utilizes artificial intelligence to deliver comprehensive market, technology, and competitive intelligence, along with detailed patent insights. This allows innovators to identify new opportunities, assess risks, track competitors, and make informed decisions throughout the product development process, from ideation to commercialization.
Soma Networks
Venture Round in 2005
SOMA Networks was the first broadband wireless access company to offer fully converged, all-IP solutions for world-class service providers. SOMA’s FlexMAX Mobile WiMAX System and SoftAir Multimedia Application System provide standards-based, leading-edge technology that enables service providers to: Differentiate themselves with simultaneous multi-megabit and multimedia services Drive revenue using value-added applications to increase average revenue per user (ARPU) Deliver wireline performance over a broadband wireless infrastructure. Revenue-quality voice over IP (VoIP) with fax support, broadband data and video applications are key components of SOMA solutions, as are the company’s award-winning macro base stations and subscriber gateways. SOMA’s all-IP architecture also makes it easy for service providers to integrate their offerings with other IP-based application servers that streamline billing and provisioning. SOMA is a principal member of the WiMAX Forum, and its FlexMAX Mobile WiMAX System supports the 802.16e-2005 Mobile WiMAX standard. With a strong partner ecosystem and world-class investors, SOMA Networks leads the industry in technology, performance, applications and value. Founded in 1999, SOMA Networks is privately held. The company is headquartered in San Francisco, with offices in Delhi, Ottawa, Singapore and Toronto.
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