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Singapore's Temasek, Seviora Raise US$173 million for Asia Agri-food Investments

February 09, 2024, 01.22 PM | Source: Reuters
Singapore's Temasek, Seviora Raise US$173 million for Asia Agri-food Investments


SINGAPORE - SINGAPORE, Feb 9 (Reuters) - Singapore state investment firm Temasek TEM.UL and its wholly owned unit Seviora have partnered to jointly invest in late venture and early growth agri-food companies in Asia Pacific, Seviora said in a statement on Friday.

Both parties had raised $173 million in total via Seviora's "T3F Strategy", which included investment from Japan's Norinchukin Bank and other institutional investors, Seviora said in the statement.

Seviora, which manages $52 billion in assets, said it expects to raise more capital for the strategy that invests in "compelling, innovative and high-growth" agri-food companies in the region.

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It had made a $17 million investment in India's Country Delight, an online food essentials delivery brand, in January under the strategy, according to the statement.

(Reporting by Yantoultra Ngui; Editing by Himani Sarkar)

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