The first close of ABC Impact’s second fund has been announced by the Singapore-based private equity firm. Known as the ABC Impact Fund II, its assets under management (AUM) have surpassed US $550 million.
The fund was established in August 2023 with the objective of investing in businesses that have an impact on the environment and society in Asia.
The fundraise involved both new and existing investors, including Temasek and its charitable arm Temasek Trust, as well as a sovereign wealth fund from Southeast Asia and Mapletree Investments. Later this year, ABC Impact Fund II anticipates its final close.
ABC Impact, which was founded in 2019, raised $300 million for its first fund. In 11 different industries, including digital and financial inclusion, water and climate solutions, and sustainable food and agriculture, it made investments. In 2022, the fund left Sunseap, a greentech company based in Singapore that is currently known as EDP Renewables APAC.
