Tembusu Partners Private Limited

Portfolio

Tembusu Partners Private Limited is a Singapore-based private equity firm specialising in growth capital and mezzanine investments in Singapore and Emerging Asia.

A pioneer firm focusing on identifying and supporting growth companies in industries including education, healthcare, software and technology, the firm has completed around $300 million in private equity transactions in a short ten year period (since its inception). The firm was founded in 2006 by four Singapore-based business families - Andy Lim [1], Tan Kim Seng [2], Tan Boy Tee [3] and Chew Hua Seng [4]. Tembusu Partners is a Capital Markets Services (CMS) [5] licensed fund manager regulated by the Monetary Authority of Singapore. They are headquartered in Singapore with offices in Shanghai and Qingdao. The firm won “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 [6].

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 under the IRAS S13H. 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 [10].

Notable Employees

Over the years, the Tembusu team has been growing under the co-founder and chairman Andy Lim who is also the person behind the launch of Singapore’s first equity crowdfunding platform FundedHere [39], the Chairman and controlling shareholder of publicly-listed company Viking Offshore & Marine Limited. He is the Executive Director of Associated Leisure International, a family holding company, and the Chairman of MoneyWorld Group of Companies. In September 2004, Mr. Lim was appointed Honorary Consul to the Republic of Lithuania.

Tan Kim Seng [40] is the founder and former Executive Chairman of KS Energy Services Ltd. 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. He has more than 30 years of experience in the trading business and has been instrumental in spearheading the growth and business strategies of KS Energy Services Ltd.

Tan Boy Tee [41] regarded as a marine tycoon and ranked No. 32 on Forbes’ 2015 list of Singapore’s 50 richest people, 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 [42], he also has investments in the oil and gas and hospitality sectors, including a majority stake in US hotel chain Red Roof Inn. Mr. Tan has delegated his role and responsibilities to his son Thomas Tan for decisions relating to Tembusu Partners.

Chew Hua Seng [43] besides being a founding member of 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 [44], son of Tan Boy Tee [45].

Lim Hwee Hua was first elected to Parliament in December 1996 and served till May 2011. Her last appointment was as a Minister in the Prime Minister’s Office, Singapore, and concurrently as Second Minister for Finance and Transport. Between April 2002 and July 2004, she was Deputy Speaker of Parliament and Chairman of the Public Accounts Committee. She has also served as the Managing Director at Temasek Holdings (2000-2004).

Yeo Cheow Tong was the former Minister for Transport (2001 – 2006) and former Member of Parliament (MP) for Hong Kah Group Representation Constituency (GRC). He became the Acting Minister for Health in 1988, and became full Minister in 1990. An experienced political leader, he has held different Ministerial positions including Health (1990-1994, 1997-1999), Community Development (1991-1994), Trade and Industry (1994-1997) and Environment (1997-1999).

Hum Sin Hoon [46] worked as a Systems Engineer in the Ministry of Defence and participated in several studies aimed at optimising the uses of various training resources and systems. He is currently the Deputy Dean of the NUS Business School, where he had served as the Dean several years prior. Prior to re-joining NUS, he served as the co-Executive Dean of the NUS-Fudan University Joint Graduate School in Suzhou, China.

Thomas Tan [47] is a member of the Investment Committee. He is also a Director of Bestford Capital, an investment advisory company. Mr. Tan previously served in the Active Advisory team at UBS (Wealth Management), where he advised High Net Worth individuals on portfolio construction.

Brijesh Pande [48] is the Founder of the Fund and the Managing Partner of the General Partner. He has more than 18 years of experience in private equity and investment banking across Asia, Europe and the Americas with Citigroup, ANZ and SBI.

Caleb Wong [49] joined the Ministry of Foreign Affairs as a Diplomatic Officer, later becoming Assistant Director in charge of the three East Asian ‘Tigers.’ He has practised law for 17 years to date, specialising in commercial litigation. He has also acted as a legal advisor to several companies specialising in construction and property development.

Emily Goh [50] was appointed as Tembusu’s representative to the boards of listed investee companies Hong Wei Technologies Limited and Artivision Technologies Limited. She previously served on the boards of Tongji Environment, Ying Tai Bio-Technology and OOBMedia, as well as Audit Chairperson of Globalroam. She is currently on the board of education start-up Ednovation.

Eric Ding [51] has more than 15 years of experience in private equity and venture capital funds and investment banking. He has also provided financial and listing consultation services for many Chinese companies listed on the Singapore Exchange.