Funds / Tembusu ICT Fund I

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Tembusu ICT Fund I

Tembusu ICT Fund I, makes venture capital investments in software companies in South South-East Asia. The Fund aims to generate superior returns by investing in early stage software companies that are poised to benefit from Asia’s continued prominence on the global technology landscape. Tembusu ICT Fund I is the only venture capital fund in Singapore investing solely in software startups.

The General Partners of Tembusu ICT Fund I are Tembusu Partners and Pepri Ventures (the investment vehicle of Mr. Brijesh Pande, Managing Partner of the Fund). The Fund possesses deep domain expertise in technology investments and is supported by 2 Operating Partners as well as 2 Senior Advisors (Mrs. Lim Hwee Hua, Director Tembusu Partners and Senior Advisor, KKR Singapore as well as Mr. Ernest L. Cu, President and CEO of Globe Telecom). The Investment Committee of the Fund comprises Mr. Andy Lim, Chairman of Tembusu Partners, Mr. Brijesh Pande and Mr. Hiten Varia (Operating Partner and CEO, M9 Solutions).

ICT Fund I is one of only six funds selected by National Research Foundation (NRF) as part of the Early Stage Venture Fund (ESVF) II scheme. The ESVF scheme is designed to promote co-investment in Singaporean startups by private capital along side capital invested by NRF. The terms of NRF’s investment in the Fund result in an enhancement of other investor’s returns, which is another attractive feature of this Fund.

For further enquiries, please feel free to email Mr. Brijesh Pande, Managing Partner at brij@tembusupartners.com to set up an appointment for a tele-conversation.

Meet the Team

Brijesh_Edit1 Brijesh Pande is the Founder of the Fund and the Managing Partner of the General Partner. He has more than 18 years of experience in private equity and investment banking across Asia, Europe and the Americas with Citigroup, ANZ and SBI.

Brijesh previously was Managing Director and Head of Private Equity at SBI Ven Capital Pte Ltd, the overseas investment subsidiary of SBI Holdings, Japan (formerly Softbank Investments), with an AUM in excess of USD 300 Million. He was on the board of SBI Ven Capital Pte Ltd and oversaw an investment platform across multiple sectors and geographies, with a focus on technology and financial services.

Prior to joining SBI Ven Capital Pte Ltd in 2010, Brijesh managed ANZ’s Asian Corporate Sales (FX, interest rate and derivatives) business for 2 years based out of Singapore. Before ANZ, Brijesh spent 10 years at Citigroup (“Citi”) in a variety of investment banking roles in Indonesia, Philippines, Australia, UK, US, Brazil, Hungary and Puerto Rico. His roles in Citi included Head of Fixed Income Capital Markets for Citi Indonesia and Head of Corporate Sales & Structuring and Debt Capital Markets for Citi Philippines.

Brijesh is actively involved in startup eco-system in South Asia and South East Asia as an investor, board member and advisor to early stage technology companies. He is also a Charter Member of TiE Singapore.
Brijesh has an MBA (with Distinction) from the University of Oxford, a Master in Finance from London Business School and a B.Sc. (Honors) from Presidency University, Kolkata.

 

Andy_Edit1 Andy Lim is the Founder and Chairman of private equity firm Tembusu Partners and the Chairman and controlling shareholder of a publicly listed company Viking Offshore & Marine Limited. He is also the Executive Director of Associated Leisure International, a family holding company and Chairman of MoneyWorld Group of Companies.

His other Board appointments include Chairman of the Overseas Experts Council (Singapore Branch) of Peking University’s China Centre for Strategic Studies, President of the Enterprise 50 Association, a leading association of the top 50 privately held companies in Singapore and a member of the Home Affairs Uniformed Service (HUS) INVEST Board of Trustee. He was the Chairman of Alpha Singapore (2002 – 2013), Council Member of the National Council for Anti-Drug Abuse (NCADA) (2005 – 2012) and as Chairman of government cooperative for ex-offenders, ISCOS (2006 – 2012). In September 2004, Mr Lim was appointed Honorary Consul to the Republic of Lithuania. The Shanghai-Pudong Branch of the China Overseas Friendship Association also appointed him as one of its Council members in May 2005.

Mr Lim took an Overseas Merit Scholarship to study Engineering in Cambridge University where he graduated with First Class Honors in 1979. After an 8 year stint with the Singapore government, he went on to receive an MBA Degree at University of California at Los Angeles (UCLA) in 1989.

 

Hiten_Edit1 Hiten Varia is a serial entrepreneur and technology evangelist who is the current Chairman and Founder at M9 Solutions and an active investor and board member at Novire, Autoplant, Cleo Communications and Angoss (high growth companies in diverse ICT sub-sectors like predictive analytics, marketing analytics as well as cloud document storage). He has had 17 years of executive leadership roles at i2 Technologies including EVP of Global Customer Operations and Chief Customer Officer, EVP of Greater Asia Pacific Region, EVP of Worldwide delivery, and VP of Worldwide development. He has also had 10 years of leadership experience at EDS.

Hiten has a Master of Science in Computer Architecture and Software Design from the University of Kentucky as well as a Bachelor of Science in Electrical Engineering from the University of Baroda.

 

CTO-in-Residence

Anurag Seth has more than 25+ years of deep technology background having worked across Semiconductor/ EDA industry, HealthTech, Data Analytics, IoT, eLearning and Enterprise Mobility. He has held senior management positions at MNCs - Kawasaki, Cadence and Motorola/Freescale, primarily managing large high end R&D teams and complex cross functional product development.

Anurag has also had previous entrepreneurial experience in launching a predictive health analytics startup, whose innovative platform for chronic diabetes care was adopted by one of India’s largest pathology lab chains. Prior to his entrepreneurial role he was CTO at an eLearning startup, where he architected a novel e-learning delivery and analytics platform. He was on the board of the VLSI Lab at IIT Kharagpur in early 2000s, and the General Chair of the International Conference on VLSI Design & Embedded Systems, 2009 and still continues to serve on the steering committee of the conference.

Anurag has a Masters degree in Computer Science from BITS Pilani, Executive Masters in International Business from IIFT, New Delhi, Accelerated Management Program at ISB Hyderabad.

 

Ernest_Edit1 Ernest Cu is currently the President, Chief Executive Officer and Director of Global Telecom. He has over two decades of technology, general management and business development experience spanning multi-country operations. Prior to joining Global Telecom, he was the President and Chief Executive Officer of SPI Technologies. He has also held several key executive positions for Crestec Los Angeles, including Vice President and Chief Financial Officer and has also served as Executive with Bank of America as well as Chairman of eTelecare International.

Ernest is also a member of the Advisory Board of Kubera Partners, LLC, an Independent Director of SPI, STI Education Systems Holdings, Inc. and Digital Media Exchange, Inc. He also serves as Board Member of Kickstart Ventures and has served as a Director of Maybank ATR Kim Eng Financial Corporation and Digital Media Exchange, Inc. He is a Trustee of the International School Manila.

Ernest was the recipient of the 2003 Ernst & Young “Entrepreneur of the Year” award for the “Information and Communications Technology” category for the Philippines.

Ernest holds an MBA from Northwestern University’s, Kellogg School of Management, Illinois and a Bachelor of Science in Industrial Management Engineering from De La Salle University in Manila.

 

LHH_Edit1 Lim Hwee Hua was first elected to Parliament in December 1996 and served till May 2011, last as Minister in the Prime Minister’s Office, Singapore, and concurrently as Second Minister for Finance and for Transport. Between April 2002 and July 2004, she was Deputy Speaker of Parliament and Chairman of the Public Accounts Committee.

At Finance, Hwee Hua spearheaded the reform of the Accountancy sector, reviewed Government’s investments in business, and helped implement financing options for small and medium enterprises. At Transport, she corporatised Changi Airport, helped establish a master-plan for aviation and was instrumental in expanding the International Maritime Centre.

Prior to joining the Singapore Cabinet, Hwee Hua enjoyed a varied career in financial services. At Temasek Holdings (2000 – 2004), she served as Managing Director where she oversaw divestments, restructured companies and boards. Hwee Hua also established strategic relations with Temasek’s key foreign counterparts. She sat on boards including PSA Corporation, Keppel Corp, Mapletree, Singapore Pools.

At Jardine Fleming (1992 – 2000), she was first Head of Singapore Research and then Director of Business Development. At Swiss Bank Corporation (1989 – 1992), she was an Investment Analyst for both Singapore and Malaysia. From 1981 to 1989, Hwee Hua served as an Administrative Officer in the Ministries of Finance, Education and Law.

Hwee Hua graduated with a Master of Arts (Honours) in Mathematics/Engineering from the University of Cambridge in 1981. In 1989, she obtained a Master of Business Administration, major in Finance, from the Anderson School of Management, University of California at Los Angeles.

Hwee Hua is currently a non-executive director of UOB Bank, Jardine Cycle & Carriage Ltd, Stamford Land Corporation and BW Group Limited, and Honorary Chairman of SIAS. She is a Senior Advisor to Kohlberg, Kravis and Roberts and a Member of the Asia Advisory Board of Westpac Institutional Bank. Hwee Hua was an Independent Non-Executive Member of the Ernst & Young Global Advisory Council (2011 – 2014).