#Asia Tembusu Partners joins forces with IT billionaire Pang Shengdong for closer SEA, China collaboration

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Pang Shengdong, Founder of 2345.com, is set to invest ‘seven digit’ in the VC firm’s ICT Fund I

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Singapore-based Tembusu Partners today announced a new partnership with Chinese IT billionaire Pang Shengdong to forge collaboration between Chinese and Southeast Asian startups.

Under the new partnership, Pang is set to invest a ‘seven digit’ amount into the VC firm’s Tembusu ICT Fund I (ICT Fund I), as well as provide ICT Fund I and its portfolio companies with strategic expertise and networking opportunities to access the mainland Chinese market.

This partnership marks the first of its kind that Pang is involved in.

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“It is encouraging to see a number of companies in Southeast Asia, especially Singapore, developing core software (deep tech) in areas like security, analytics and cloud computing. Given Singapore’s close relationship with the Greater China region, I see a tremendous opportunity to utilise my experience and network to unlock synergies and partnerships for ICT Fund I’s portfolio companies,” he said in a media statement.

Pang also praised Tembusu Partners’ focus in deep tech investments.

He secured his billionaire status when he sold 2345.com, the web directory that he founded, to Shenzhen-listed 2345 Network Holding Group. He was also known as the founder of 51.com, a social networking site that is claimed to have “nearly 400 million” page views per day.

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At 38-year-old, he is reported to have a published net worth of US$1.2 billion.

Tembusu Partners itself invests in early and growth stage companies in “Emerging Asia” — China, India, and Southeast Asia.

Image Credit: belchonock / 123RF Stock Photo

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