September 29, 2021

Asia Impact Investor ABC World Asia Leads US$100M Series E Funding in India’s Largest LIVE Online Tutoring Company Vedantu

29 September 2021, Singapore – Singapore-based Asia impact investor ABC World Asia today announced that it has led a US$100 million Series E funding round into Vedantu, India’s largest LIVE online tutoring company. The transaction is expected to close in the next few weeks.

Sugandhi Matta, Chief Impact Officer, ABC World Asia, said, “Vedantu embodies our investment theme of better access to quality education. In India, online education has the potential to create positive impact at scale. Using innovative technology to deliver real-time educational content to students around the country in a wide-ranging and engaging manner, Vedantu is contributing to better educational outcomes that can lead to improved lives and livelihoods.”

Vamsi Krishna, CEO and Co-Founder, Vedantu, said, “Vedantu is leading the way in innovative online delivery experiences as we focus on our vision to unleash the potential in every child. With the support of ABC World Asia and our other investors, we will continue to innovate to reach as many students as possible and create better experiences and outcomes for every child.”

Vedantu was the first company to offer LIVE online classes in India in 2014. Since then, it has been a pioneer in the space with notable innovations such as WAVE, its proprietary LIVE teaching platform, and the 2-teacher model; some of the company’s innovations have been granted patents in the U.S.

This is ABC World Asia’s second investment in India this year. In January, the impact fund led an investment into Cropin, an agri-tech organisation working on solutions in sustainable food and agriculture. The fund has a growing portfolio that includes companies in Singapore, China, Vietnam, India, and Australia, working to address challenges such as climate change, food scarcity, access to healthcare and education, and financial inclusion.

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About ABC World Asia
ABC World Asia is a Singapore-headquartered and Asia-focused private equity fund dedicated to impact investing. We invest in companies that drive positive change by addressing the world’s most pressing challenges such as climate change, resource scarcity, and deepening inequality. Our investment themes include financial and digital inclusion, better health and education, climate and water solutions, sustainable food and agriculture, and smart and liveable cities.

We believe that investing with an impact lens demonstrates the positive power of private capital and can help to foster more innovative and resilient companies that deliver societal and environmental benefits. We are a disciplined investor with a rigorous and evidence-based impact assessment approach that aims to generate positive and measurable social or environmental outcomes, alongside a compelling risk-adjusted return for our investors.

Our investment themes are aligned with the ABC Framework for an Active Economy, a Beautiful Society, and a Clean Earth. The ABC Framework was established by Singapore investment company Temasek and builds on the ideals of the 17 Sustainable Development Goals set by the United Nations.

Our inaugural S$405 million fund includes investors such as Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp Industries, and Singapore Power.

About Vedantu
Vedantu, a pioneer in LIVE online learning in India. It offers individual and group classes across K-12 and test preparation segments. Students can take individual or group classes on its app or website online. Classes are delivered in a LIVE Real-time, interactive ONLINE learning environment. Students & parents can access free content, LIVE masterclasses across subjects, micro-courses, and daily assessments. 1 million+ students study LIVE every month on the platform and more than 40 million users every month from 10,000+ cities and 50+ countries access free content, tests, doubts, videos on Vedantu’s platform, and its channels on YouTube. To know more about Vedantu, log on to https://www.vedantu.com or download the application on your Android or iOS devices.

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Yeo Zuo Yi

Director
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Ryan Liew Bing En

Director
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Aditya Misra

Director
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Silky Raheja

Director
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Tan Ming Xian

Vice President
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Yap Xue Qi

Vice President
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Jason Xu

Vice President
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Ngan Ye Ring

Vice President
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Hiew Wen Ji

Assistant VP
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Tran Khanh Linh

Assistant VP
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Rachel Fong

Assistant VP
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Jirada Jongjakapun

Assistant VP
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Lim Shang Yi

Associate
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Boey Kai Jie

Analyst
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Liew Bing En

Analyst
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Chin Keen Tat

Analyst
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Goh Yew Lin

Goh Yew Lin

Chairman and Non-Executive Director

Mr Goh Yew Lin is Chief Executive Officer of G. K. Goh Holdings Pte Ltd, an investment company with substantial assets in aged care in Australia and Singapore, alongside venture capital and private equity. He is Chairman of Xora Innovation, a Temasek-owned venture builder, and a Director of Temasek Trust. He was Chairman of Seviora Holdings, Temasek’s asset management arm, until September 2025, and served as a non-executive Director of Temasek Holdings from 2005 to 2018.

Mr Goh is also a board member of A*STAR (the Agency for Science, Technology and Research) and Chairman of the Governing Board of Duke-NUS Medical School. He holds a degree from the Wharton School, University of Pennsylvania.

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David Heng

David Heng

Chief Executive Officer and Executive Director

As Chief Executive Officer of Temasek Trust Asset Management (TTAM), Mr David Heng oversees two investment platforms: ABC Impact, an Asia-focused growth impact private equity firm with over S$1 billion (US$900 million) in assets under management, and Temasek Trust Capital, a purpose-aligned investment platform managing a diversified portfolio in support of Temasek Trust’s long-term philanthropic objectives.

With over 30 years in the investment industry, Mr Heng spent 14 years in senior leadership roles at Temasek, including Head of Real Estate, Head of Japan & Korea, Joint Head of Consumer, and Joint Head of China, prior to which he was with Deutsche Bank AG. He serves as an Independent Director of Sea Limited (NYSE: SE) and is a board member of the Centre for Impact Investing and Practices (CIIP). Mr Heng is an IBF Fellow (Asset Management). He holds an MBA from the University of Hull and a Bachelor of Engineering from the University of Canterbury.

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Desmond Kuek

Desmond Kuek

Non-Executive Director

Mr Desmond Kuek is Executive Director and Chief Executive Officer of Temasek Trust, the philanthropic arm of Temasek, a role he has held since January 2023. He was previously Divisional Vice Chairman, Global Wealth Management at UBS AG (2019 to 2022), where he headed Sustainable Finance for Asia Pacific, and President and Group CEO of SMRT Corporation (2012 to 2018). Earlier in his career he served nearly three decades in the Singapore public service and Singapore Armed Forces, including as Permanent Secretary of the Ministry of the Environment and Water Resources, Chief of Defence Force, and Chief of Army.

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Chan Wai Ching

Chan Wai Ching

Non-Executive Director

Ms Chan Wai Ching is Chief Corporate Officer of Temasek International and a member of its Strategy, Portfolio and Risk Committee and Senior Management Committee. She heads Temasek’s Organisation & People function and is a Director of Temasek Trust. She joined the board of Seviora Holdings, Temasek’s asset management group, in September 2025. Ms Chan joined Temasek in June 2006, following an extensive human resources career at Fullerton Financial Holdings, Citibank, Singapore Technologies, United Overseas Bank and Overseas Union Bank. She holds a Bachelor of Business Administration from the National University of Singapore and completed the Advanced Management Programme at Harvard Business School in 2012.

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Margaret Lui

Margaret Lui

Non-Executive Director

Ms Margaret Lui is an experienced investment professional in direct investments, asset management and private equity. She was Chief Executive Officer of Azalea Investment Management, a wholly owned subsidiary of Temasek, from its founding in 2015 until her retirement on 31 March 2025; under her leadership, Azalea grew to manage around US$11 billion in assets and developed its two flagship platforms, the Astrea Private Equity Bonds and the Altrium PE Funds. She remains an Adviser to Azalea and sits on the Investment Committees of its Altrium funds.

Ms Lui spent 40 years with the Temasek group from 1985, including as Senior Managing Director and, prior to Azalea, as Chief Operating Officer of two of Temasek’s affiliate investment management companies. She also serves on the Board of Trustees of the Singapore Institute of Technology, as an independent non-executive director of Lendlease, as Chair of PSA International’s Marine Services Supervisory Committee, and as a member of the Singapore Exchange’s Listing Advisory Committee.

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David Heng

David Heng

Chief Executive Officer

As Chief Executive Officer of Temasek Trust Asset Management (TTAM), Mr David Heng oversees two investment platforms: ABC Impact, an Asia-focused growth impact private equity firm with over S$1 billion (US$900 million) in assets under management, and Temasek Trust Capital, a purpose-aligned investment platform managing a diversified portfolio in support of Temasek Trust’s long-term philanthropic objectives.

With over 30 years in the investment industry, Mr Heng spent 14 years in senior leadership roles at Temasek, including Head of Real Estate, Head of Japan & Korea, Joint Head of Consumer, and Joint Head of China, prior to which he was with Deutsche Bank AG. He serves as an Independent Director of Sea Limited (NYSE: SE) and is a board member of the Centre for Impact Investing and Practices (CIIP). Mr Heng is an IBF Fellow (Asset Management). He holds an MBA from the University of Hull and a Bachelor of Engineering from the University of Canterbury.

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Tan Shao Ming

Tan Shao Ming

Chief Investment Officer

Mr Tan Shao Ming leads a diverse team of impact-oriented investment professionals in building a portfolio that generates impact alongside compelling, market-rate risk-adjusted returns across Asia.

He brings over 20 years of institutional investing experience across a range of styles and strategies. At Temasek, he worked on acquiring controlling and minority positions in Asian banks in the aftermath of the 1997 Asian financial crisis. He later focused on special situations and structured credit at Citadel Investment Group in Hong Kong, covering China, Taiwan and Southeast Asia, and led Southeast Asian mid-market investing at Citi Private Equity.

Mr Tan is a Chartered Financial Analyst. He holds a Bachelor of Engineering (Chemical), First Class Honours, and a Master of Engineering (Chemical) from the National University of Singapore.

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Sugandhi Matta

Sugandhi Matta

Chief Impact Officer

As Chief Impact Officer, Ms Sugandhi Matta leads ABC Impact’s approach to assessing, measuring and driving impact outcomes across its portfolio, and also invests for the firm across South and Southeast Asia. She brings over 20 years of investing experience in the region, having previously been Director of Investment at LeapFrog Investments, a billion-dollar impact fund focused on financial inclusion, and before that focused on Southeast Asian mid-market private equity at Actis. She began her investing career as a member of Temasek Holdings’ Financial Services team.

Ms Matta sits on the boards of several portfolio companies across India and the UK, and has also held board directorships in Thailand and Indonesia. She holds an MBA from the Indian Institute of Management, Bangalore, and a Bachelor of Engineering from Maharaja Sayaji Rao University, Baroda.

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Eugene Huang

Eugene Huang

Chief Strategy Officer

Mr Eugene Huang was previously Managing Director, Investments at Temasek, where over a 12-year tenure based in Singapore, Beijing and Shenzhen he invested and exited over US$5 billion of capital globally across industries such as software, e-commerce, social media, education and consumer. He was most recently responsible for Temasek’s technology and consumer investments in China and head of its Shenzhen office.

Mr Huang began his career as an investment banker with Merrill Lynch & Co. (now Bank of America) in New York and Hong Kong. He graduated summa cum laude from New York University’s Stern School of Business.

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Charina Chan

Charina Chan

Chief People Officer

Ms Charina Chan is Chief People Officer of ABC Impact, a role she holds concurrently with Chief People Officer of Temasek Foundation Ltd and Head of Organisation, Human Resources and Administration at Temasek Trust Ltd. She was previously part of Temasek International’s Organisation & People team, where she led the Non-Executive Talent portfolio, covering board governance and the management of an extended talent network for Temasek and its portfolio companies. Earlier in her career she worked at Fullerton Financial Holdings, a wholly owned subsidiary of Temasek Holdings.

Ms Chan holds an MBA from Imperial College London and a Bachelor of Science from the National University of Singapore.

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Koh Boon San

Koh Boon San

Managing Director, Operations (Non-Investment)

Mr Koh Boon San is responsible for finance, risk, compliance and operations at ABC Impact. He brings more than 20 years of experience across fund management, finance and the corporate sector.

Before joining ABC Impact, Mr Koh headed the business management team at HSBC Securities Services, covering trustee, fund administration and custody services, and spent 10 years at Fullerton Fund Management heading various finance, risk and compliance functions. He began his career at Pricewaterhouse before joining Temasek Holdings’ finance department.

Mr Koh holds a Bachelor in Accounting (Second Class Honours, Upper Division) from Nanyang Technological University and is a member of the Institute of Singapore Chartered Accountants.

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Jeffrey Fang

Jeffrey Fang

Head of Investor Relations and Communications

Mr Jeffrey Fang leads Investor Relations at ABC Impact, responsible for capital raising, investor engagement and external communications across global markets.

Earlier in his career, Mr Fang held roles across corporate development, operations and financial communications. He was Director of Strategic and Public Affairs at Temasek, managing global M&A communications, media relations, and crisis and issues management. He subsequently built a portfolio as an angel investor and venture operator, alongside his own advisory practice, before joining Temasek Trust Asset Management.

Mr Fang serves on the boards of Kim Dental, the Home Nursing Foundation, and several venture-backed companies. He holds an MA in International Relations and Affairs from the Fletcher School of Law and Diplomacy at Tufts University and a BA in Mass Communication from RMIT University.

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Climate
& Water Solutions

We invest in businesses strengthening energy security and accelerating the energy transition across Asia, alongside companies improving water resilience and access — from renewable energy infrastructure and energy efficiency to water treatment and resource management.
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Sustainable Food
& Agriculture

We back companies improving the productivity, sustainability, and resilience of Asia's food systems — including precision agriculture, alternative proteins, and solutions that reduce waste across the supply chain.
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Financial
& Digital Inclusion

We invest in technology-enabled businesses expanding access to financial services for underserved individuals and micro-enterprises across Asia, including digital lending, insurance, and payments infrastructure.
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Better Healthcare
& Education

We back businesses improving access to quality healthcare and education across Asia — from tech-enabled diagnostics and elder care to digital learning platforms serving students at scale.