Temasek-backed private equity firm ABC Impact has secured over $600m in its latest funding round, attracting capital from a diverse group of institutional and private investors as it continues to target high-impact investments across Asia, according to a report by the Wall Street Journal.

The report cites CEO David Heng as revealing that participants in the raise include a multilateral development bank, a sovereign wealth fund from Southeast Asia, a US-based family office, and Mapletree Investments, a global real estate investment manager. The Asian Development Bank and SeaTown Holdings, which manages around $4bn in assets, also joined the round, alongside several ultra-high-net-worth individuals.

The capital will be deployed into sectors such as healthcare, micro-finance, and environmental solutions, with a focus on scalable businesses addressing social and environmental challenges in the region.

“The businesses we invest in aren’t waiting for external signals — they’re actively shaping the future by addressing critical needs in ways that are both impactful and financially sound,” Heng said.

Founded in 2019, ABC Impact now manages more than $900m in assets. The firm emphasises that impact investing is no longer seen as a concessionary strategy, but rather a strategic advantage amid evolving regional priorities.

“We believe capital, when directed with intent, can help shape pragmatic, market-led responses to the most urgent challenges facing our region,” Heng added.

ABC Impact’s recent investments include Aye Finance, an Indian lender to micro and small enterprises; Tekoma Energy, a Japan-based solar energy company; and DCDC Kidney Care, which runs a network of dialysis centres across India.

The firm is backed by Temasek Holdings, Singapore’s state investment fund, which manages a portfolio valued at $288bn, and holds stakes in companies such as BlackRock, Standard Chartered, Singapore Airlines, and PSA International, the world’s largest port operator.