Singapore's Novo Tellus raises $510 mln for third private equity fund

SINGAPORE, Dec 20 (Reuters) - Singapore-headquartered private equity firm Novo Tellus said on Wednesday it had raised $510 million for its third private equity fund called Novo Tellus PE Fund 3, surpassing its fundraising target by 36%.

Novo Tellus, which focuses on technology supply chain companies in Southeast Asia and the Indo-Pacific region, said it secured capital from both existing and new investors, according to a statement.

Founded in 2011, Novo Tellus counts Singapore's electronics manufacturing firm SP Manufacturing and Bengaluru-based engineering services company Tessolve Semiconductor among its active investments, according to its website.

It also has a special purpose acquistion company called Novo Tellus Alpha Acquisition listed on the Singapore bourse. (Reporting by Yantoultra Ngui; Editing by Michael Perry)