SINGAPORE (Aug 13): MindChamps PreSchool is a familiar brand with parents, though it is relatively new to the stock market, having just listed last November. Since its listing, executive chairman David Chiem has set the company on a new course. Apart from selling the education franchises, MindChamps is now setting up investment fund joint ventures that will invest in a range of education-related businesses. The aim is to bring in multiple streams of income, ranging from management fees to royalti

On April 9, the company announced a 70:30 JV with Temasek unit Pavilion Capital to set up Palace Investments. The JV will run the MindChamps PreSchool Global Fund, which will invest directly or indirectly into other funds, which are in turn investing in operating preschools under the MindChamps brand. For a start, the Temasek unit has committed to investing US$50 million ($68.3 million).

That was the second fund arrangement Chiem has set up. In February, MindChamps formed a 50:50 fund management JV with Hong Kong-listed China First Capital Group. The MindChamps China Preschool Fund aims to raise US$200 million to acquire and set up preschools in China, where Chiem hopes to tap the strong demand for quality education. CFCG is one of the three cornerstone investors in MindChamps’ IPO.

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