Temasek plans to step up investment in India technology, retail firms

Singapore-Based Global Investment Firm Temasek Holdings (Photo: Reuters)

Singapore’s Temasek will strengthen its technology, consumer and financial services portfolio in India by raising stakes in companies and investing in market leaders and early-stage companies.

Temasek’s yearly review said its India investments included Country Delight, a subscription-based food essentials platform, HealthKart, a nutrition and wellness supplements manufacturer and retailer, and OneCard, a mobile-first credit card issuance platform. EvolutionX Debt Capital, a growth-stage debt financing platform jointly established by Temasek and DBS Bank, provides financing to growth stage technology-enabled companies.

“Over the year, we committed to a new fund managed by our strategic partner LeapFrog Investments. We made our first direct investment in SarvaGram, a company that provides financial and productivity enhancing solutions to rural households in India,” said Temasek in a statement in Singapore.