Launched in August 2023, ABC Impact Fund II has garnered support from new investors, notably a Southeast Asian sovereign wealth fund.
Bolstered by the track record of its inaugural fund, ABC Impact has also received significant backing from existing partners, including Temasek Trust, Temasek, SeaTown Holdings, and Mapletree Investments.
Fund II Assets Under Management (AUM) now exceeds US$550 million, with the final close expected in 2024.
“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. With a steadfast commitment to disciplined and evidence-based impact investing, we are particularly encouraged by the enthusiasm of new investors joining our mission,” said David Heng, CEO of ABC Impact.
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.
The firm’s inaugural US$300 million fund has been strategically deployed across various sectors, including financial and digital inclusion, better health and education, climate and water solutions, and sustainable food and agriculture.
The positive outcomes generated since inception have played a pivotal role in attracting investors keen on contributing to impactful and sustainable investment initiatives.
Since its inception, ABC Impact Fund I has invested in 11 portfolio companies and is nearing full deployment. The portfolio showcases impact-driven companies addressing environmental and societal challenges through innovative solutions.
In 2022, the fund achieved a successful exit from Sunseap, a Singapore-based solar company. – BusinessNewsAsia.com