Singapore-based private equity firm Tembusu Partners is set to launch a number of investment funds in China totalling RMB1 billion ($149 million).
The move follows the award of a Qualified Foreign Limited Partner licence to a joint venture that Tembusu has formed with a state-owned entity in the Guizhou province, making Tembusu the first overseas fund manager to secure such a status in the Guizhou province.
The licence allows investors to access a so-called ‘express lane’ for regulatory approval and taxation, thereby shortening transaction time and the investment process and facilitating multiple direct investments in Chinese companies.
According to Tembusu, the new funds will focus on investing in technology, infrastructure, healthcare, tourism and impact-related projects in China.
In addition, Tembusu has appointed Lim Ming Yan as the chairman of its China Advisory Board as the firm seeks to deepen its links to China’s investment management industry.
"The funds we intend to launch will enable Tembusu to bridge the investment communities of China, Southeast Asia and the rest of the world through accelerated deal flows,” said Andy Lim, Tembusu’s founder and chairman.
“As China continues to open up and connect with the world, the funds will pave the way for more to participate starting from Guizhou.”
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