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CNA
09-07-2025
- Business
- CNA
Temasek's ‘sustainable living' portfolio grows by S$2 billion
SINGAPORE: Temasek's sustainable living investment portfolio value increased by S$2 billion (US$1.56 billion) in the last financial year, the state-owned investment firm announced on Wednesday (Jul 9). The S$46 billion portfolio comprised S$39 billion in sustainability-focused investments and S$7 billion in climate transition solutions. This made up 11 per cent of Temasek's net portfolio value. This is the second time the investment firm is revealing a sustainability report at the launch of its annual Temasek Review, where it announced S$434 billion in net portfolio value as of Mar 31. Temasek added S$4 billion of investments to its sustainability portfolio in the last financial year, covering areas including renewable energy, clean energy solutions and low-carbon iron production technology. Some companies it invested in included France-based renewable energy company Neoen, which it partnered with Canadian fund Brookfield to buy out in May 2024. It also invested in Sweden-based clean energy solutions provider Aira, as well as United States-based ammonia-to-power solutions provider Amogy and low-carbon iron production technology provider Electra. Another investment was in India-based SarvaGram, which provides financial and productivity-enhancing solutions to rural households in its country. This past financial year, as part of its investment in climate transition solutions, Temasek partnered with Energy Capital Partners as well to acquire clean energy transition company Atlantica Sustainable Infrastructure, which is based in the United Kingdom. Temasek said it has so far reduced net carbon emissions attributable to its portfolio by about 4.55 per cent from 2010 levels. By 2030, it hopes to halve it from 2010 levels to 11 million tonnes of carbon dioxide equivalent (MtCO2e) and by 2050, to achieve net zero emissions. The proportion of Temasek's sustainability investments remained 'roughly the same' as the previous year's, its chief investment officer Rohit Sipahimalani said. Responding to a question about the US pulling back from sustainability efforts under President Donald Trump and whether it would affect Temasek going forward, he said that the firm had stepped up its investments in sustainability in the past year compared to the previous year. Even in the US, large multinational companies are still 'very committed' towards their net zero goals, Mr Rohit added. 'We're not seeing a change that way from the end demand for moving towards a lower carbon world, moving away from fossil fuels into renewables.' He also said that Temasek saw significant opportunities to take part in this transition in ways that would be 'financially attractive regardless of government subsidies'. Its chief sustainability officer Park Kyung-Ah said that renewable energy technology, especially solar energy, is the 'most competitive' type of energy in most places around the world, and battery storage is on a similar trajectory. These are also being deployed faster than traditional forms of energy, she added. 'If you look at the total picture, the opportunity sets are quite compelling, despite some of the short-term volatility.' Singapore Airlines (SIA), Sembcorp Industries, Olam Group, PSA International and ST Telemedia contributed 82 per cent of Temasek's total portfolio emissions – the same five companies as the previous financial year. In particular, SIA contributed 43 per cent of total portfolio emissions. The changes in total portfolio emissions throughout the year were mainly attributable to an increase in emissions from SIA, driven by strong demand for air travel and cargo uplift, Temasek said in its report. The emissions reporting boundaries of other portfolio companies were refined and expanded and these also affected the changes. These were balanced out by a decrease in emissions from Sembcorp Industries, decarbonisation efforts of some other companies, as well as changes to the composition of Temasek's portfolio.
Entrepreneur
14-06-2025
- Business
- Entrepreneur
SarvaGram Raises INR 565 Crore in Series D; Doubles Valuation to INR 1,785 Crore
SarvaGram's board approved the issuance of 21,857 Series D compulsorily convertible preference shares (CCPS) and 20 equity shares at INR 2,51,431.22 per share in November 2023 You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Rural-focused credit startup SarvaGram has raised INR 565 crore (approximately $67 million) in its Series D funding round, led by Peak XV Partners with participation from existing investors Elevation Capital, Elevar Equity, Temasek, and TVS Capital. While the company announced the round publicly, regulatory filings accessed by Entrackr revealed the detailed structure, shareholding changes, and valuation impact of the investment. According to documents filed with the Registrar of Companies, SarvaGram's board approved the issuance of 21,857 Series D compulsorily convertible preference shares (CCPS) and 20 equity shares at INR 2,51,431.22 per share in November 2023. This allotment accounted for INR 550 crore of the round, with a prior infusion of INR 15 crore bringing the total to INR 565 crore. Peak XV Partners led the round with an investment of INR 340 crore ($40.3 million). Existing backers followed suit—Elevation Capital put in INR 80.76 crore ($9.58 million), Elevar Equity contributed INR 68 crore ($8 million), while Temasek and TVS Capital invested INR 45.48 crore ($5.4 million) and INR 30.78 crore ($3.6 million) respectively. The funding has significantly boosted SarvaGram's valuation, which now stands at INR 1,785 crore ($212 million)—more than double its INR 790 crore ($94 million) valuation at the time of its $35 million Series C round. Founded in 2019 by Utpal Isser and Sameer Mishra, SarvaGram focuses on delivering tailored credit and financial services to rural households, including business, farm, personal, home, and gold loans. The company also offers farm mechanization and insurance through its SarvaMitra network, which spans over 38,000 villages, supporting more than 1.5 lakh households and over 170 retail outlets. Data from TheKredible shows SarvaGram has raised over $116 million across multiple rounds. Post-Series D, Elevar Equity remains the largest external shareholder with a 23.78 per cent stake, followed by Peak XV Partners (19.05 per cent) and Elevation Capital (18.40 per cent). Co-founders Isser and Mishra continue to hold 11.00 per cent and 7.05 per cent, respectively. Financially, the Pune-based fintech reported a 2.3x growth in operating revenue to INR 170 crore for the year ending March 2024. Losses narrowed by 30 per cent year-on-year to INR 19.75 crore. SarvaGram faces competition from agri-fintech startups such as Jai Kisan, which last raised $50 million, and which secured $30 million in debt funding earlier this year.
