Singapore-based Kembangan Capital Partners (KCP) has secured $725m across two investment vehicles targeting private equity and venture capital opportunities in Asia, with a sovereign wealth fund providing anchor backing, according to a report by Bloomberg.
The report cites unnamed people familiar with the fundraising as revealing that the first vehicle, targeting $500m, will invest in private equity and venture capital funds, while a further $225m has been earmarked for direct investments and co-investments alongside other managers, the sources said.
KCP, founded by former Temasek executive Koh Wai Kit, is targeting opportunities across China, India, Japan, South Korea and Southeast Asia. The investment strategy will focus on sectors including artificial intelligence and supporting infrastructure, healthcare and life sciences, consumer businesses and financial services.
The unnamed sovereign investor is understood to be supporting the strategy as it seeks to broaden its exposure beyond US assets and capture opportunities aligned with themes including the green economy, Chinese consumption, supply-chain resilience and infrastructure.
