Timah Partners Closes US$50M Series A to Address Southeast Asia's SME Succession Crisis

SINGAPORE, June 26, 2025 /PRNewswire/ -- Timah Partners ("Timah"), a Singapore-based permanent holding company focused on acquiring and operating essential, recurring B2B SMEs in Southeast Asia—and developing the next generation of SME leaders through its CEO-in-Training program, announced the close of its US$50 million Series A.

The round was backed by a distinctive group of investors, including:

• Founders of iconic HoldCos: Mitch Rales (Danaher), Nick Howley (TransDigm), and Alex Behring (3G Capital)
• Pioneers of the modern HoldCo playbook: Will Thorndike and Kent Weaver (Compounding Labs), Rick Buhrman and Paul Buser (Sator Grove)
• Veteran investors from top-tier investment firms: former and current senior leadership at Insight Partners, Norwest, TCV, and Tiger Global

Timah is also supported by a board and advisory group that includes senior leaders from DBS Bank, Grab, Quantedge, Union Energy, Singapore Land Authority, JTC Corporation, the Singapore Government, and the National University of Singapore.

Timah was founded by Dennis Chua, a Singaporean who grew up around SMEs and returned home after 15 years in the U.S. to launch Timah Partners. Over his career, he worked with world-class investors and operators—including Goldman Sachs, 3G Capital, Tiger Management, and D.E. Shaw—and helped build, from its earliest days, an investment firm focused on small- to mid-sized businesses. He graduated top of his class from Harvard Business School and Cornell University, and is an alumnus of Raffles Institution.

Tackling a quiet crisis unfolding in the region

In Singapore, for example, SMEs employ over 70% of the workforce. The population aged 65 and above is set to double over the next two decades, yet only a fraction of SME owners have formal succession plans. Too many great companies risk shutting down—not for lack of value, but for lack of a viable next chapter.

A different model for ownership

Unlike private equity or search funds, Timah does not buy with the intent to sell. With its permanent capital base and horizon, Timah serves as a long-term, values-driven home for retiring founders' life's work. The firm focuses on high-quality, recurring B2B businesses in the $2–10 million EBITDA range, offering full exits and long-term operational stewardship. Timah emphasizes preserving legacy—not overhauling it.

"We're not buying to flip," said Dennis Chua, Founder and CEO. "We acquire businesses to operate and grow them over decades, with no pressure to sell. Our investors built some of the best holding companies in the world, and we're applying those lessons here in Southeast Asia."

Learn more about Timah's acquisition criteria: timahpartners.com/sell-your-business

Building the next generation of SME leaders

At the heart of Timah's strategy is its CEO-in-Training (CIT) program—a structured, hands-on pathway for emerging operators to rise rapidly to C-suite roles within its portfolio companies. Inspired by Alpine Investors' CIT and Shore Capital's CXO programs, Timah's CIT program is designed to develop entrepreneurial leaders who want to run real businesses, create lasting impact, and build equity within a system designed for their success.

"Singapore's SME succession problem isn't just about ownership—it's about leadership," said Chua. "We're building a talent pipeline of operators who are excited about ownership and want to roll up their sleeves to run great real businesses."

Applications for the first CIT cohort are now open: timahpartners.com/join-our-team

About Timah Partners

Timah Partners is a permanent holding company built to solve Southeast Asia's SME succession crisis. We acquire and operate high-quality, recurring B2B SMEs—serving as the long-term home for the region's best businesses—while building the next generation of SME leaders through Southeast Asia's first CEO-in-Training program. We're not a fund. We're not flippers. We're builders—committed to permanent stewardship, operational excellence, and deep respect for what founders have built. Learn more at timahpartners.com.