65 Equity Partners completed the acquisition of a 13% stake in Tuya from New Enterprise Associates for $100m.

65 Equity Partners, an investment firm, completed the acquisition of a 13% stake in Tuya, a cloud platform service provider with a mission to build a smart solutions developer ecosystem, from New Enterprise Associates, a venture capital financing company, for $100m. "This investment via the Anchor Fund aligns strategically with our mandate of supporting high quality businesses seeking a listing on the SGX. We are pleased to support Tuya in its next phase of growth," Tan Chong Lee, 65 Equity Partners CEO.