US Stock Market Move | Temasek Holdings, a Singapore-based investment company, made a full investment in strategic investment platform Tuya Inc. Sponsored ADR Class A (TUYA.US), causing it to surge more than 12% in pre-market trading.

On Monday, Tuya, Inc. Sponsored ADR Class A (TUYA.US) rose by over 12% to $1.81 before market opening. On the news front, Tuya, Inc. Sponsored ADR Class A announced today that it has reached a final agreement on a strategic investment with 65 Equity Partners. 65 Equity Partners will realize the investment by purchasing approximately 13% of Tuya's total issued shares from New Enterprise Associates ("NEA"). 65 Equity Partners is a wholly-owned investment platform independently managed by Temasek Holdings, dedicated to supporting founders in their growth process. The company focuses on investing in family businesses and startups in Southeast Asia, Europe, and the United States, covering industries such as technology, business services, consumer goods, industrial, and healthcare. CEO of 65 Equity Partners, Tan Chong Lee, stated, "This investment through Anchor Fund aligns well with our mission to support high-quality companies seeking listing on the Singapore Exchange. We are excited to support Tuya as it enters the next stage of growth." Karan Saraf of 65 Equity Partners added, "Tuya is a global leader in the development ecosystem of smart solutions, with a highly differentiated competitive position in the smart cloud-based software and device solutions sector. We are thrilled to be part of Tuya's exciting journey, as its strong leadership, brand, and innovative ideas attract a highly diverse global customer base."