Tuya Holding (TUYA.US) gains over 12% before the market opens after receiving a full investment from Temasek Holdings' platform strategy

On Monday, Tuya Intelligent (TUYA.US) rose over 12% before the market opened, trading at US$1.81. On the news front, Tuya Intelligent announced today that it has entered into a final agreement with 65Equity Partners regarding a strategic investment, in which 65Equity Partners will invest through the purchase of approximately 13% of Tuya's total issued shares from New Enterprise Associates ("NEA").

65Equity Partners is a fully-owned investment platform managed independently by Temasek Holdings, dedicated to supporting founders in their growth journey. The company focuses on investing in family businesses and start-ups in Southeast Asia, Europe and the United States, covering technology, business services, consumer, industrial and healthcare sectors.

Tan Chong Lee, CEO of 65Equity Partners, said: "This investment through Anchor Fund aligns perfectly with our mission to support high-quality companies seeking a listing on the Singapore Exchange. We are delighted to support Tuya in its next growth phase." Karan Saraf of 65Equity Partners added: "Tuya is the global leader in the smart solutions ecosystem, with a highly differentiated competitive positioning in the smart cloud infrastructure software and device solutions. We are thrilled to be part of Tuya's exciting journey, driven by its strong leadership, brand and innovative vision, attracting a highly diverse global customer base."