Temasek-owned True Light secures $3.3b to invest in Greater China

Photo credit: Temasek

True Light Capital, a wholly owned subsidiary of Temasek, announced today that it has raised US$3.3 billion for its inaugural flagship fund.

Called True Light Fund I, it received capital commitments from global investors, including sovereign wealth funds, foundations, financial institutions, and family offices.

True Light was established to broaden Temasek’s reach and provide its partners with investment opportunities in structural trends in China, said Song Hwee Chia, deputy CEO of Temasek and chairman of True Light.

The fund will invest alongside Temasek in opportunities related to or having a significant business connection with Greater China, which typically includes Mainland China, Hong Kong, Macau, and Taiwan.

True Light Fund I invests directly in private and public equity, as well as indirectly through private equity and venture funds. The fund follows a multi-sector approach and can invest in startups at all stages.

As part of its T2030 strategy, Temasek aims to grow its partnerships and deploy capital in areas where it can generate stable and sustainable returns over the long term, Chia added.

According to a statement, the fund is aligned with the four long-term structural trends of digitization, longer lifespans, sustainable living, and the future of consumption.

In China, these trends are fueling innovation in areas such as digital transformation, therapeutics and biotech, decarbonization, and new consumption products and services.

See also: Mapping Temasek’s role in the startup space (updated)