To solve SME succession issue in SEA, Timah Partners closes $50 M Series A funding
Timah Partners, a permanent holding company headquartered in Singapore that focuses on buying and running essential, recurring business-to-business (B2B) SMEs in Southeast Asia—and training the next generation of SME leaders through its CEO-in-Training program—announced the closing of its $50 million Series A.
In a statement last Thursday, the company said that a unique set of investors had backed the round, including the founders of well-known HoldCos, Mitch Rales (Danaher), Nick Howley (TransDigm), and Alex Behring (3G Capital); the creators of the modern HoldCo playbook, Will Thorndike and Kent Weaver (Compounding Labs); Rick Buhrman and Paul Buser (Sator Grove); and seasoned investors from prestigious investment firms, including current and former senior leadership at Insight Partners, Norwest, TCV, and Tiger Global.
Senior executives from DBS Bank, Grab, Quantedge, Union Energy, Singapore Land Authority, JTC Corporation, the Singapore Government, and the National University of Singapore are also part of the board and advisory group that supports Timah.
For instance, it is reported that more than 70% of the workforce in Singapore is employed by SMEs. Over the next 20 years, the number of people 65 and older is expected to double, but only a small percentage of SME owners have formal succession plans.
Too many outstanding businesses run the risk of closing—not because they are worthless, but rather because they don’t have a promising future.
Timah does not purchase with the intention of selling, in contrast to search funds or private equity.
The firm provides a long-term, values-driven home for the retiring founders’ life’s work because of its permanent capital base and horizon.
Offering complete exits and long-term operational stewardship, the firm specializes in high-quality, repeating business-to-business (B2B) ventures with earnings before interest, taxes, depreciation, and amortization (EBITDA) between $2 and $10 million.
Timah stresses maintaining legacy rather than changing it.
“We’re not buying to flip. We acquire businesses to operate and grow them over decades, with no pressure to sell,
“Our investors built some of the best holding companies in the world, and we’re applying those lessons here in Southeast Asia,” said Dennis Chua, Founder and Chief Executive Officer.
The CEO-in-Training (CIT) program, a structured, practical route for aspiring operators to quickly advance to C-suite positions within its portfolio companies, is the cornerstone of Timah’s strategy.
The CIT program is intended to cultivate entrepreneurial leaders who aspire to manage actual businesses, make a lasting impact, and accumulate equity within a framework built for their success. It was inspired by the CIT programs offered by Alpine Investors and Shore Capital’s CXO programs.
“Singapore’s SME succession problem isn’t just about ownership—it’s about leadership,
“We’re building a talent pipeline of operators who are excited about ownership and want to roll up their sleeves to run great real businesses,” said Chua.
