ABOUT
Who We Are
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.
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.
MEMBER OF
As a member 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.
Founding Investors
Our founding investors are institutions seeking to
advance the region’s sustainable development through profitable purpose-driven investment.
OUR PEOPLE
Leadership
David Heng
Chief Executive Officer
David leads Singapore’s impact investing private equity firm ABC Impact, a member of Temasek Trust Asset Management. He firmly believes that impact investing exemplifies how private capital can be a force for good.
He has over 25 years of experience in the investment industry. Prior to founding ABC Impact, David spent over 14 years in senior leadership roles with Singapore-headquartered global investment company Temasek. At Temasek, he stewarded the portfolio growth of three major investment clusters – Financial Services, Consumer, and Real Estate. His past appointments at Temasek include Head of Real Estate, Head of Japan & Korea, Joint Head of Consumer, and Joint Head of China.
David’s board directorships include NYSE-listed SEA Limited, Seatown Holdings, and Temasek Trust Asset Management among others. He is also a Board Director of Centre for Impact Investing and Practices and the Singapore Art Museum board.
David holds a Master of Business Administration degree from the University of Hull (United Kingdom) and a Bachelor of Engineering degree from the University of Canterbury (New Zealand).
Tan Shao Ming
Chief Investment Officer
Shao Ming is the Chief Investment Officer of Singapore’s impact investing private equity firm ABC Impact, a member of Temasek Trust Asset Management. The firm strives to deliver compelling market rate risk-adjusted financial returns alongside evidence-based, positive and measurable impact to society and the environment. As Chief Investment Officer, Shao Ming leads a diverse team of impact-oriented professionals in building a sustainable and impactful portfolio focused on generating impact in Asia.
Shao Ming has over 20 years of institutional investing experience across a wide spectrum of investment styles and strategies. He began his career at Singapore-headquartered global investment company Temasek, where he worked on acquiring controlling and minority positions in Asian banks in the aftermath of the 1997 Asian financial crisis. Subsequently, Shao Ming focused on special situations and structured credit opportunities covering China, Taiwan and Southeast Asia at Citadel Investment Group (Hong Kong). He has also led investing activities in Southeast Asia at Citi Private Equity, focusing on mid-market companies.
A Chartered Financial Analyst, Shao Ming holds a Bachelor of Engineering (Chemical) (1st Class Honours) and a Master of Engineering (Chemical) from the National University of Singapore.
Sugandhi Matta
Chief Impact Officer
Sugandhi is the Chief Impact Officer of Singapore’s impact investing private equity firm ABC Impact, a member of Temasek Trust Asset Management. The firm strives to deliver compelling market rate risk-adjusted financial returns alongside evidence-based, positive and measurable impact to society and the environment. As Chief Impact Officer, Sugandhi leads the firm’s approach towards assessing, measuring, consolidating and driving impact outcomes across its portfolio companies. She also invests for the firm in South and South East Asia.
Sugandhi has over 17 years of experience in private equity and emerging markets. Sugandhi previously directed investments at a billion-dollar impact fund focused on financial inclusion, where she led investments in the financial services sector in India and Indonesia. Prior to impact investing, she specialised in mid-market private equity markets at emerging markets investor Actis. She began her career with Singapore-headquartered global investment company Temasek.
An experienced board member, Sugandhi has held board directorships in companies operating across different countries, including India, Thailand, and Indonesia. She currently sits on the board of Cropin, a global artificial intelligence and data-led agri- tech organization based in India; HCAH India, a leading out-of-hospital care provider in India and the Enterprise Board of the Institute of Innovation & Entrepreneurship at the Singapore Management University.
Sugandhi is an advocate of gender equality and actively commits time to mentor women entrepreneurs as well as women-led ventures. She believes that access to education, employment, and entrepreneurship is the key to elevating lives and livelihoods.
Sugandhi holds a Master of Business Administration from the Indian Institute of Management, Bangalore (India), and a Bachelor of Engineering from Maharaja Sayaji Rao University, Baroda (India).
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.