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Singapore’s Temasek unit True Light closes flagship fund at US$3.3 billion

The fund will invest alongside Temasek in high-quality investment opportunities which have a nexus to or have a major business relationship with Greater China
By Goh Thean Eu   
October 3, 2023

Singapore’s True Light Capital, a unit of state investment firm Temasek Holdings, has closed its flagship True Light Fund 1 at US$3.3 billion.

According to the company, there were capital commitments from global investors, including sovereign wealth funds, foundations, financial institutions and family offices.

The fund will invest alongside Temasek “in high-quality investment opportunities which have a nexus to or have a major business relationship with Greater China”, True Light says in a statement on September 28.

It will invest directly in private and public equity as well as indirectly through private equity and venture funds.

“The fund employs a theme-driven, multi-sector approach, with key sectors including life sciences, technology, consumer, industrials and business services,” True Light says.

Established in 2021, True Light Capital currently manages approximately $3.3 billion out of its offices in Singapore and Shanghai.