ABOUT

VISION

To be the leading impact investment firm in Asia by fostering innovative and resilient companies that deliver societal and environmental benefits.

MISSION

To invest in impact-driven companies with the aim of generating positive and measurable social or environmental outcomes in Asia, alongside compelling risk-adjusted financial returns for our investors.

APPROACH

We provide growth equity to purposeful companies driving meaningful change in line with the UN Sustainable Development Goals.

We develop investment theses and evaluate prospective companies on both financial and impact dimensions in an evidence-based manner. We ensure that partnerships with our portfolio companies can drive the best performance in both dimensions.

We are active and supportive investors who engage closely with our partners to maximise impact potential and accelerate commercial success.

Active Community
Beautiful Society
Clean Earth

Our investment themes align with the ABC Framework, established by our founding investor Temasek and built on the UN Sustainable Development Goals. Click on each alphabet to view the corresponding sustainable development goals.

No Poverty Zero Hunger Good Health and Well-Being Quality Education Gender Equality Clean Water and Sanitation Affordable and Clean Energy Decent Work and Economic Growth Industry, Innovation and Infrastructure Reduced Inequalities Sustainable Cities and Communities Responsible Consumption and Production Climate Action Life Below Water Life On Land Peace, Justice and Strong Institutions Partnerships for the Goals
A UNIT OF

As a business unit of Capital Markets Services license-holder Temasek Trust Asset Management, we operate under the regulations by the Monetary Authority of Singapore.

Investment Themes

Our investment themes address pressing environmental and social challenges in Asia and reframe them into growth and development opportunities.

Limited Partners

 Our Limited Partners are institutions seeking to
advance the region’s sustainable development through profitable purpose-driven investment.

OUR PEOPLE

Leadership

David Heng

Chief Executive Officer

David Heng

Chief Executive Officer

David is the Chief Executive Officer of ABC Impact and concurrently serves as CEO of Temasek Trust Asset Management (TTAM). He is a strong advocate for the role of private capital in driving meaningful, scalable solutions to some of Asia’s most pressing social and environmental challenges.

David brings over 25 years of experience in the investment industry. Prior to founding ABC Impact, he held senior leadership roles at Temasek for more than 14 years, where he led the portfolio growth of three major investment clusters: Financial Services, Consumer, and Real Estate. His appointments at Temasek included Head of Real Estate, Head of Japan & Korea, Joint Head of Consumer, and Joint Head of China.

He currently serves on the boards of NYSE-listed Sea Limited, SeaTown Holdings, and Temasek Trust Asset Management. He is also a Board Director of the Centre for Impact Investing and Practices.

David holds a Master of Business Administration from the University of Hull (UK) and a Bachelor of Engineering from the University of Canterbury (New Zealand).

Tan Shao Ming

Chief Investment Officer

Tan Shao Ming

Chief Investment Officer

Shao Ming is the Chief Investment Officer of ABC Impact, where he leads a diverse team of investment professionals in building a resilient, purpose-driven portfolio that addresses Asia’s most pressing social and environmental challenges.

He brings over 20 years of institutional investing experience across public and private markets, special situations, and structured credit. He began his career at Temasek, acquiring controlling and minority stakes in Asian banks following the 1997 Asian financial crisis. He subsequently held senior roles at Citadel Investment Group in Hong Kong, focusing on special situations in China, Taiwan, and Southeast Asia, and at Citi Private Equity, where he led mid-market investments across Southeast Asia.

Shao Ming is a Chartered Financial Analyst and holds a Bachelor of Engineering (Chemical), First Class Honours, and a Master of Engineering (Chemical) from the National University of Singapore.

Sugandhi Matta

Chief Impact Officer

Sugandhi Matta

Chief Impact Officer

Sugandhi is the Chief Impact Officer of ABC Impact. She leads the firm’s approach to impact strategy, measurement, and outcomes across its Asia-focused portfolio, while also overseeing investments in South and Southeast Asia.

With over 17 years of experience in private equity and emerging markets, Sugandhi has held senior investment roles at a billion-dollar financial inclusion fund and Actis, and began her career at Temasek. She serves on the boards of Cropin, HCAH India, and the Enterprise Board at Singapore Management University.

Sugandhi is Co-Chair of the East Asia & Oceania Regional Committee under the Impact Principles, contributing to regional dialogue on impact integrity and accountability. She is also a strong advocate for gender equality and actively mentors women entrepreneurs.

She holds an MBA from the Indian Institute of Management Bangalore and a Bachelor of Engineering from Maharaja Sayajirao University of Baroda.

Eugene Huang

Chief Strategy Officer

Eugene Huang

Chief Strategy Officer

Eugene is the Chief Strategy Officer of ABC Impact, where he leads the firm’s efforts in portfolio value creation, strategic alignment, and long-term scaling across its investments in Asia. He works closely with portfolio companies to help deepen impact, unlock growth, and drive operational excellence.

Prior to joining abcIMPACT, Eugene was Managing Director, Investments at Temasek, where he spent 12 years in various leadership roles across Singapore, Beijing, and Shenzhen. As an investor, he has deployed and successfully exited over USD 5 billion of capital globally, with a focus on sectors such as software, e-commerce, social media, education, and consumer. Most recently, he led Temasek’s technology and consumer investments in China and served as Head of its Shenzhen office.

Eugene began his career in investment banking with Merrill Lynch & Co. (now Bank of America) in New York and Hong Kong. He holds a Bachelor of Science in Finance and Accounting from the Stern School of Business at New York University, where he graduated summa cum laude.

Investment Funds

FUND I

Our USD 300M inaugural fund was raised in 2019. Founding investors include Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp Industries, and Singapore Power.

FUND II

We launched ABC Impact Fund II in August 2023 and held a first close in January 2024. Fund II AUM currently exceeds US$550M. Investors include existing partners Temasek Trust, Temasek, Seatown Holdings, Mapletree Investments as well as new investors including a Southeast Asian Sovereign Wealth Fund.

Final close of Fund II is expected in 2024.

Partnerships and Memberships

Making A Positive Impact