Temasek-backed ABC Impact has secured US$550m (€460m) for its second fund, ABC Impact Fund II, in its first close.

Launched in August 2023, ABC Impact Fund II has garnered support from new investors, notably a Southeast Asian sovereign wealth fund, said the firm.

Fund II also received significant backing from existing partners, including Temasek Trust, Temasek, SeaTown Holdings, and Mapletree Investments.

The firm’s inaugural US$300m fund has been deployed across various sectors, including climate and water solutions, and sustainable food and agriculture.

“We are pleased to achieve the first closing of ABC Impact Fund II with strong support from both our new and existing partners. The robust interest in Fund II is a validation of the strategy embedded in our inaugural fund,” said David Heng, CEO of ABC Impact.

ABC Impact Fund II is expected to hold its final close in 2024, according to the firm.

Established in 2019, ABC Impact’s core mission is to generate positive and measurable social or environmental outcomes in Asia while delivering “compelling” risk-adjusted returns for investors. 

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