Singapore’s sovereign wealth fund Temasek is planning to invest between $3 billion and $4 billion in India during the ongoing financial year (FY26), in line with its long-term investment roadmap for the country.
Temasek India’s Managing Director Vishesh Shrivastav told PTI that the capital outlay aligns with a goal set by the firm three years ago. In 2023, Temasek had stated its intent to deploy up to $10 billion in India over a three-year period.
“We invested $3 Bn each over the last two years, and see a pipeline of at least $3 Bn to $4 Bn this year,” Shrivastav reportedly said. He also noted that not all pipeline deals may close, citing competition as a factor to contend with.
Temasek has already committed $6 billion to India over the past two years. The company’s total India exposure—including indirect holdings such as Airtel—has grown significantly, now standing at $50 billion, up from $35 billion last year.
On Temasek’s investment priorities in India, Shrivastav said the firm is focused on themes such as digitisation, increasing lifespans, consumption, and sustainable living. He also added that Temasek is “keen to scout for opportunities” in segments like foodtech, AI-aligned sectors, and industrials.
He emphasised that thorough due diligence and strong corporate governance remain key investment criteria for the firm.
India has emerged as Temasek’s best-performing market globally, according to Shrivastav. The firm also expects some of its portfolio companies to debut on public markets in the coming quarters, though specific names were not disclosed.
Temasek has previously backed several major Indian startups including Lenskart, Rebel Foods, Atomberg, and upGrad. It has exited investments in firms like PB Fintech (parent of Policybazaar), Ola Electric, and Eternal with solid returns. Meanwhile, other portfolio companies such as Pine Labs and Curefit are reportedly preparing for IPOs.
However, not all investments have seen smooth sailing—startups like Unacademy and Fi Money are currently navigating operational challenges and growth pressures.
