ABC World Asia, a newly-launched Temasek fund dedicated to impact investing in Asia, has raised a total of S$385m (€255m) at its close.
A number of companies, including Mapletree Investments, Seatown Holdings, Sembcorp Industries and Pavilion Capital, joined Temasek Trust and Temasek itself to invest in the fund.
Temasek Trust launched ABC World Asia in May to focus on investing in climate and water solutions, sustainable food and agriculture, and smart and liveable cities. It will also invest in financial and digital inclusion, better health and education.
Geographically, ABC World Asia will explore investment opportunities primarily in China, Southeast Asia and South Asia.
The fund will look for companies that demonstrate commitment to generating a positive, measurable social or environmental impact, alongside the ability to deliver compelling risk-adjusted returns.
David Heng, CEO of ABC World Asia, said: “While the industry is still at its early stages of development, we already see a range of opportunities to participate in impact investing across Asia.
“The investors in our fund bring deep and complementary experience spanning various markets and sectors. With their support, we believe we are well-positioned to identify and invest in good companies that seek to deliver a positive impact alongside sustainable financial returns.”