Sovereign wealth fund
Temasek portfolio
temasek.com.sgTemasek is a sovereign wealth fund based in Singapore, Singapore, founded in 1974. It has invested in 195 venture-backed companies across 268 funding rounds on VCMC, and led 102 of those rounds. 30 of them were in the last 12 months.
195
Venture-backed companies
in its portfolio on VCMC
268
Funding rounds
led 102
30
Last 12 months
rounds, Oct 2025 to Sep 2026
91
With a disclosed valuation
of 195 companies
$2.11T
Combined value of its private companies
the whole companies, not what Temasek owns
189 private companies Temasek has backed have a VCMC valuation; together they are worth $2.11T. That is the value of the whole companies, not what Temasek owns. Anthropic is 52% of the total. 6 companies it backed have since been acquired and are not included. How VCMC values companies.
Values cover private companies only; public companies are not included.
Portfolio
Temasek's most valuable portfolio companies
The 10 most valuable private companies Temasek has backed, by VCMC's valuation. Values cover private companies only; public companies are not included.
- 1 Anthropic Tech Companies, San Francisco $1.09T range $838.9B – $1.51T Joined at Series G, 2026
- 2 Databricks Tech Companies, San Francisco $193.6B range $165.2B – $240.4B Joined at Series H+, 2025
- 3 Stripe Payment Processing & Point of Sale, Paris $173.0B range $138.2B – $207.9B Joined at Series H+, 2023
- 4 Waymo Car Rental, Mountain View $155.4B range $109.5B – $193.5B Joined at Growth, 2021
- 5 Ant Group Tech Companies, Hangzhou $67.6B range $13.0B – $152.4B Joined at Series C, 2018
- 6 Insurance - Agents, Carriers & Brokers, Chicago $30.4B range $19.3B – $36.3B Joined at Growth, 2025
- 7 The Boring Company Construction Services, Las Vegas $23.8B range $20.0B – $35.0B Joined at Series D, 2026
- 8 Veeam Tech Companies, Baar $17.5B range $10.3B – $20.1B Joined at Growth, 2024
- 9 Stegra Scrap Metals, Stockholm $16.4B range $11.2B – $24.8B Joined at Growth, 2023
- 10 Oura Medical Supply Manufacturers, Oulu $15.7B range $9.7B – $18.1B Joined at Series C, 2021
Portfolio
Full Temasek portfolio (195 companies)
195 companies. Load more shows the rest.
| # | Last round | History | Range | Trend | Grade | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Ola Corporate Ridesharing · since Growth, 2021 | Series J Dec 2021 $139M | $9.3B | $727M – $10.7B | $8.6B (-8%) | $1.4B | 0% | 29,717 | flat | D | |
| 2 | Stripe Payment Processing & Point of Sale · since Series H+, 2023 | Growth Equity Feb 2026 $159.00B | $173.0B | $138.2B – $207.9B | $180.8B (+4%) | $17.7B | 0% | 16,600 | growing | A | |
| 3 | Anthropic Tech Companies · since Series G, 2026 | Series H May 2026 $65.00B | $1.09T | $838.9B – $1.51T | $1.31T (+20%) | $144.0B | 0% | 6,076 | growing | A | |
| 4 | Databricks Tech Companies · since Series H+, 2025 | Growth Equity Aug 2026 $5.00B | $193.6B | $165.2B – $240.4B | $209.0B (+8%) | $18.8B | 0% | 17,130 | growing | A | |
| 5 | Waymo Car Rental · since Growth, 2021 | Debt Oct 2026 $5.00B | $155.4B | $109.5B – $193.5B | $168.2B (+8%) | $18.5B | 0% | 4,831 | growing | A | |
| 6 | Ant Group Tech Companies · since Series C, 2018 | Series C Jun 2018 $14.00B | $67.6B | $13.0B – $152.4B | $67.6B (0%) | $24.7B | 46% | 10,623 | flat | D | |
| 7 | Stegra Scrap Metals · since Growth, 2023 | Growth Equity Jun 2026 $1.59B | $16.4B | $11.2B – $24.8B | $17.5B (+6%) | $1.7B | 0% | 821 | up | B | |
| 8 | The Boring Company Construction Services · since Series D, 2026 | Series D Sep 2026 $3.00B | $23.8B | $20.0B – $35.0B | $30.4B (+28%) | $3.3B | 0% | 800 | up | A | |
| 9 | Metropolis Tech Companies · since Series C, 2023 | Debt Nov 2025 $1.10B | $6.8B | $4.3B – $7.9B | $6.9B (+1%) | $758M | 0% | 1,976 | growing | B | |
| 10 | Verily Tech Companies · since Growth, 2020 | Growth Equity Mar 2026 $300M | $3.3B | $2.1B – $5.0B | $2.7B (-18%) | $321M | 95% | 1,106 | down | B | |
| 11 | Isomorphic Labs Biotechnology · since Series B, 2026 | Series B May 2026 $2.10B | $15.2B | $9.1B – $27.4B | $19.3B (+27%) | $2.3B | 0% | 432 | growing | B | |
| 12 | Magic Leap Tech Companies · led at Series D, 2017 | Series G Oct 2021 $500M | $1.7B | $171M – $2.9B | $1.6B (-5%) | $282M | 22% | 1,221 | flat | D | |
| 13 | PsiQuantum Semiconductors · led at Series D, 2021 | Grant Jul 2026 $125M | $9.6B | $6.0B – $11.0B | $9.6B (0%) | $1.1B | 0% | 671 | up | B | |
| 14 | FNZ Investment Consultants & Financial Advisors · since Growth, 2025 | Growth Equity Sep 2026 $450M | $4.7B | $3.0B – $7.7B | $5.0B (+8%) | $495M | 0% | 6,299 | flat | B | |
| 15 | SambaNova Tech Companies · since Series D, 2021 | Series F Jul 2026 $1.00B | $11.2B | $9.6B – $13.5B | $11.0B (-2%) | $1.6B | 76% | 406 | down | A | |
| 16 | Form Energy Batteries · since Series C, 2020 | Debt Sep 2026 $270M | $792M | $652M – $1.1B | $985M (+24%) | $108M | 0% | 891 | flat | A | |
| 17 | Cyera Tech Companies · since Series G, 2026 | Series G Jun 2026 $600M | $13.3B | $10.4B – $18.2B | $15.8B (+19%) | $1.7B | 0% | 1,672 | growing | A | |
| 18 | Veeam Tech Companies · since Growth, 2024 | Growth Equity Dec 2024 $2.00B | $17.5B | $10.3B – $20.1B | $17.5B (0%) | $1.7B | 0% | 7,511 | up | B | |
| 19 | Commonwealth Fusion Systems Electric Supplies & Power Generation · led at Series A, 2020 | Series C Jul 2026 $1.00B | $9.8B | $6.5B – $16.9B | $11.9B (+22%) | $1.3B | 0% | 1,114 | flat | B | |
| 20 | Zipline Airline Companies · led at Growth, 2021 | Series H Mar 2026 $800M | $8.9B | $6.6B – $11.4B | $9.9B (+11%) | $1.1B | 0% | 1,662 | unknown | A | |
| 21 | Sinch Telecommunications · since Growth, 2021 | Debt Sep 2024 $48M | $8.3B | $696M – $13.9B | $8.1B (-2%) | $1.1B | 11% | 4,364 | flat | D | |
| 22 | Impossible Foods Food Production · led at Series E, 2019 | Growth Equity Nov 2021 $500M | $1.1B | $478M – $6.6B | $1.1B (0%) | $609M | 97% | 450 | down | D | |
| 23 | ShareChat Tech Companies · led at Series F, 2021 | Debt Aug 2024 $16M | $3.6B | $574M – $6.8B | $3.2B (-12%) | $814M | 30% | 1,717 | flat | D | |
| 24 | Cainiao Global Express Tracking Shipping Couriers · led at Series A, 2016 | Series A Mar 2016 $1.54B | $7.3B | $624M – $9.0B | $7.2B (-1%) | $2.2B | 0% | 2,979 | flat | D | |
| 25 | Snyk Tech Companies · since Series E, 2021 | Series G Dec 2022 $197M | $4.7B | $1.6B – $12.0B | $3.8B (-19%) | $1.1B | 50% | 1,714 | up | D | |
| 26 | Oura Medical Supply Manufacturers · since Series C, 2021 | Series E Sep 2025 $875M | $15.7B | $9.7B – $18.1B | $15.7B (0%) | $1.9B | 0% | 1,617 | growing | B | |
| 27 | iCapital Investment Consultants & Financial Advisors · led at Growth, 2021 | Growth Equity Jul 2025 $820M | $8.7B | $6.0B – $10.1B | $8.7B (0%) | $787M | 0% | 2,418 | up | A | |
| 28 | FTX Cryptocurrency · since Series C, 2022 | Series C Jan 2022 $400M | $238M | $0 – $238M | $238M (0%) | – | 100% | 63 | shrinking | dead | |
| 29 | Alan Insurance - Agents, Carriers & Brokers · led at Series C, 2020 | Series G Jun 2026 $550M | $6.9B | $5.5B – $9.6B | $8.3B (+20%) | $997M | 0% | 1,609 | up | A | |
| 30 | SoundCloud Media Companies · led at Series F, 2017 | Series F Aug 2017 $170M | $829M | $101M – $2.4B | $829M (0%) | $240M | 29% | 1,026 | up | D | |
| 31 | Koubei Payment Processing & Point of Sale · since Growth, 2017 | Growth Equity Jan 2017 $1.10B | $8.8B | $695M – $10.1B | $8.8B (0%) | $911M | 0% | 4 | unknown | D | |
| 32 | RiverAI Software Development Services · since Seed, 2026 | Seed Aug 2026 $1.10B | $21.9M | $9.67M – $76.8M | $38.5M (+76%) | $7.56M | 0% | 16 | growing | D | |
| 33 | PharmEasy Drug Stores & Pharmacies · since Series E, 2021 | Debt Sep 2025 $193M | $810M | $259M – $932M | $791M (-2%) | $82.6M | 0% | 3,978 | flat | C | |
| 34 | RingCentral Tech Companies · since Series D, 2021 | Series D Aug 2021 $450M | $11.8B | $1.2B – $21.0B | $11.2B (-5%) | $2.0B | 24% | 310 | unknown | D | |
| 35 | SenseTime Tech Companies · since Series C, 2018 | Series C Apr 2018 $600M | $2.5B | $175M – $5.1B | $2.5B (0%) | $589M | 0% | 2,153 | flat | D | |
| 36 | Adani Airport Holdings Transportation & Shipping · since Growth, 2026 | Growth Equity Sep 2026 $1.00B | $9.8B | $6.3B – $16.2B | $10.6B (+9%) | $1.1B | 0% | 3,599 | up | B | |
| 37 | Farmers Business Network Farms & Agriculture Production · led at Series D, 2017 | Growth Equity Jul 2025 $50M | $610M | $369M – $983M | $481M (-21%) | $61.1M | 59% | 806 | growing | B | |
| 38 | Claroty Tech Companies · since Series D, 2021 | Series F Jan 2026 $150M | $3.7B | $2.6B – $4.5B | $3.9B (+7%) | $434M | 0% | 858 | flat | A | |
| 39 | Solugen Chemicals · since Series C, 2021 | Growth Equity Mar 2026 $50M | $584M | $369M – $917M | $570M (-2%) | $55.5M | 26% | 136 | flat | B | |
| 40 | GetYourGuide Travel Agencies · since Series E, 2019 | Series F Jun 2023 $85M | $1.5B | $329M – $2.3B | $1.4B (-4%) | $167M | 0% | 1,463 | up | C | |
| 41 | Ascend Elements Batteries · led at Series D, 2023 | Series D Sep 2023 $460M | $992M | $532M – $3.3B | $608M (-39%) | $486M | 97% | 130 | shrinking | C | |
| 42 | Playlist Tech Companies · since Growth, 2026 | Growth Equity Jan 2026 $785M | $8.1B | $6.5B – $9.5B | $8.3B (+2%) | $743M | 0% | 2,356 | unknown | A | |
| 43 | Orca Security Tech Companies · led at Series C, 2021 | Series C Oct 2021 $550M | $1.6B | $146M – $2.7B | $1.5B (-7%) | $348M | 12% | 523 | flat | D | |
| 44 | Antora Batteries · since Series B, 2024 | Series C Jul 2026 $550M | $2.6B | $2.1B – $3.7B | $3.2B (+23%) | $355M | 0% | 273 | growing | A | |
| 45 | Electric Hydrogen Industrial Machinery & Supplies · since Series C, 2023 | Debt May 2024 $50M | $470M | $228M – $1.5B | $315M (-33%) | $139M | 92% | 294 | down | C | |
| 46 | Consensys Tech Companies · since Series D, 2022 | Series D Mar 2022 $450M | $3.5B | $580M – $9.5B | $3.2B (-8%) | $1.0B | 40% | 729 | flat | D | |
| 47 | Carbon Industrial Machinery & Supplies · since Series E, 2019 | Growth Equity Nov 2025 $60M | $692M | $435M – $1.1B | $584M (-16%) | $65.6M | 51% | 518 | flat | B | |
| 48 | Mainspring Energy Electric Supplies & Power Generation · since Series F, 2025 | Series F Apr 2025 $258M | $4.3B | $1.7B – $6.1B | $4.3B (0%) | $471M | 0% | 526 | flat | C | |
| 49 | Apeel Sciences Food Production · led at Growth, 2020 | Series E Aug 2021 $250M | $245M | $135M – $718M | $230M (-6%) | $222M | 97% | 146 | shrinking | C | |
| 50 | Noom Nutritionists & Weight Loss Specialists · since Series F, 2021 | Series F May 2021 $540M | $2.4B | $263M – $7.5B | $2.2B (-7%) | $684M | 30% | 1,200 | flat | D |
Valuation: VCMC's valuation with its range, from a low to a high scenario; a company with no valuation shows a dash, one acquired after its last round its last value as a private company.
Activity
How Temasek invests: stages, industries and countries
Most of its rounds are Series C and later (68%). Its companies span 66 industries, most in Tech Companies, Biotechnology and Payment Processing & Point of Sale, across 19 countries.
Rounds by stage
- Seed 8
- Series A 27
- Series B 49
- Series C and later 183
- Other venture 1
Investments by industry
- Tech Companies 52
- Biotechnology 11
- Payment Processing & Point of Sale 9
- Chemicals 8
- Food Production 8
- Batteries 7
- Industrial Machinery & Supplies 5
- Software Development Services 5
Investments by country
- United States 87
- India 23
- Singapore 17
- United Kingdom 16
- China 12
- France 7
Recent rounds
Temasek's latest investments
Temasek's most recent funding rounds, newest first. 30 rounds in the last 12 months.
- Series B $135M 13 Oct 2026
- Growth $27M 8 Oct 2026
- Series B, led $250M 6 Oct 2026
- Adani Airport Holdings Growth $1.00B 9 Sep 2026
- The Boring Company Series D $3.00B 9 Sep 2026
- Series C, led $100M 7 Sep 2026
- Databricks Growth $5.00B 13 Aug 2026
- RiverAI Seed $1.10B 11 Aug 2026
- Series D $87M 23 Jul 2026
- CuspAI Series B $450M 20 Jul 2026
Co-investors
Temasek's top co-investors
The investors that most often join the same rounds as Temasek. Coatue leads, with 17 rounds together.
- Coatue 17 rounds together
- GV 15 rounds together
- GIC 14 rounds together
- Khosla Ventures 14 rounds together
- Breakthrough Energy 13 rounds together
- SoftBank Vision Fund 12 rounds together
- Sequoia Capital 11 rounds together
- General Catalyst 11 rounds together
- Qatar Investment Authority 10 rounds together
- 9 rounds together
About
About Temasek
Temasek Holdings (Private) Limited is a Singaporean state-owned investment company that operates as a commercial investment firm and sovereign wealth fund. The company manages a portfolio of investments across sectors such as consumer, media and technology, life sciences and agri-food, and non-bank financial services, with a primary focus on Singapore and Asia. Temasek also engages in community initiatives and philanthropic activities through its foundation and scholarships.
Description from Veridion's company data.
- Founded
- 1974
- Based in
- Singapore, Singapore
- Team
- 1,634 people, +3% in a year
- Type
- Sovereign wealth fund
Focus markets
- Financial Services
- Consumer
- Media and Technology
- Life Sciences
- Agriculture
- Non-Bank Financial Services
What Temasek offers
- Global Investment Management
- Sustainable Investment Management
- Portfolio Construction and Allocation
- Industry-Focused Investment Management
- Financial Services Investment
- Consumer Sector Investment
- Media and Technology Investment
- Life Sciences and Agri-Food Investment
Questions
Temasek: frequently asked questions
How many companies has Temasek invested in?
195 venture-backed companies on VCMC, across 268 funding rounds.
What are Temasek's most valuable private companies?
Anthropic ($1.09T), Databricks ($193.6B), Stripe ($173.0B), by VCMC's valuation.
What was Temasek's latest investment?
Soufflé Therapeutics, a Series B round in Oct 2026 of $135M.
Which stages does Temasek invest in?
Temasek invests most often at Series C and later (183 rounds), followed by Series B (49) and Series A (27). It has also joined 8 seed and 1 other venture rounds.
What is Temasek's portfolio worth?
Its private companies with a VCMC valuation are worth $2.11T together. That is the sum of the companies' values, not what Temasek owns.
Who does Temasek invest alongside?
Coatue (17 rounds), GV (15 rounds), GIC (14 rounds).