Singapore asset managers Fullerton Fund Management and 65 Equity Partners, units of state investment firm Temasek Holdings, have been appointed for a S$1.5 billion (US$1.16 billion) investment mandate called Anchor Fund 2.
This is the second tranche of the trade and industry ministry’s Anchor Fund initiative launched in 2022. The first tranche, Anchor Fund 1, was also for S$1.5 billion, and is managed by 65 Equity Partners.
Anchor Fund 2 will invest in growth companies that are ready to list in Singapore, and also provide capital to late-stage firms preparing for eventual listings, according to a joint statement on March 30 issued by the ministry, Temasek and the two asset managers.
Fullerton will focus on public markets and participate in listings as a cornerstone investor, while 65 Equity Partners will work with private companies to help them scale and get ready to go public.
Anchor Fund 1 has invested in several firms, including health technology company Ultragreen.ai, which was listed in Singapore last December; US cybersecurity firm AvePoint, which made its debut on Nasdaq in 2019; and car e-commerce platform Carsome, which is still privately held.
According to the statement, Anchor Fund 2 will complement ongoing initiatives from the Monetary Authority of Singapore’s (MAS) equities market review group.
Last year, MAS launched a S$5 billion equities market development programme, adopting a proposal from the review group to channel money to asset managers with strong track records to invest in Singapore’s stock market.
Nine asset managers were appointed in 2025 for mandates under the programme, which was expanded to S$6.5 billion this year.
