Singapore's Novo Tellus raises $510 mln for third private equity fund

Novo Tellus Alpha Acquisition

20/12/2023 02:54

SINGAPORE, Dec 20 (Reuters) - Singapore-headquartered
private equity firm Novo Tellus said on Wednesday it had raised
$510 million for its third private equity fund called Novo
Tellus PE Fund 3, surpassing its fundraising target by 36%.
    Novo Tellus, which focuses on technology supply chain
companies in Southeast Asia and the Indo-Pacific region, said it
secured capital from both existing and new investors, according
to a statement.
    Founded in 2011, Novo Tellus counts Singapore's electronics
manufacturing firm SP Manufacturing and Bengaluru-based
engineering services company Tessolve Semiconductor among its
active investments, according to its website. 
    It also has a special purpose acquistion company called Novo
Tellus Alpha Acquisition  NOVO.SI  listed on the Singapore
bourse.

 (Reporting by Yantoultra Ngui; Editing by Michael Perry)
 ((Yantoultra.Ngui@thomsonreuters.com;))