ImpactAlpha, February 4 — Singapore-based private equity impact fund ABC World Asia, launched by Temasek in 2019, led a $24 million financing round for Kim Dental, a Vietnamese provider of affordable dental health care.
Oral health “is often neglected and continues to pose a major public health concern in many developing countries,” said ABC World Asia’s David Heng. Kim Dental employs 120 dentists and dental surgeons, as well as 600 staff workers, across 19 dental clinics to serve over 23,000 Vietnamese patients monthly.
ABC World Asia made the investment via its inaugural $405 million fund, which is backed by Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp Industries and Singapore Power.
Last month, the fund backed Indian agtech CropIn’s Series C funding round (see, “Indian agtech venture CropIn raises $20 million”).