Dilhan Pillay Sandrasegara, Chief Executive Officer of Singapore state investor Temasek Holdings, has been appointed Chairman of Vertex Holdings with effect from April 15, 2026. The Singapore-based venture capital firm announced the appointment alongside strong financial results, reporting profit of over $100 million for financial year 2025 driven by a series of portfolio exits across private and public markets. Pillay succeeds Teo Ming Kian, who will retire from the board along with Deputy Chairman Lee Kheng Nam. The appointment signals Temasek's intent to deepen integration between its funding platforms as the sovereign wealth fund undergoes its most significant restructuring in over a decade.
Vertex said in a statement that the appointment marks the next phase in its transformation as Temasek prepares to derive greater synergies with its other funding platforms. No search firm involvement was mentioned. The move comes at a pivotal moment for Temasek, which is simultaneously restructuring its operations into three separate wholly-owned entities (Temasek Global Investments, Temasek Singapore, and Temasek Partnership Solutions) effective April 1, 2026. That same day, Pillay will assume chairmanships of all four entities in addition to his existing role as Executive Director and CEO of Temasek Holdings. The timing of his Vertex appointment positions him to oversee the venture capital firm during its integration within Temasek's new structure, with Vertex Partnership Solutions housing Vertex along with Temasek's co-investments and various asset managers.
Pillay, 62, is a trained lawyer with deep roots in Singapore's financial and corporate establishment. He holds a Bachelor of Laws degree from the National University of Singapore (1988) and a Master of Laws from the University of Cambridge (1990). Before joining Temasek in September 2010, Pillay was Managing Partner of WongPartnership LLP, a major Singapore law firm he co-founded in 1992, where he led the banking, finance and corporate practice group. His corporate law expertise encompasses mergers and acquisitions and corporate governance. At Temasek, Pillay has held numerous senior positions including Head of Investment, Portfolio Management, and Enterprise Development Groups. He served as Chief Executive Officer of Temasek International from April 2019 before being promoted to Executive Director and CEO of Temasek Holdings itself in October 2021. Pillay previously served on Vertex's board from 2015 to 2018 and was instrumental in strategic decisions during Temasek's acquisition and integration of Vertex within its portfolio.
Vertex Holdings, founded in 1988, has grown into one of Asia's most successful venture capital platforms with approximately $7 billion in assets under management, up from $200 million in 2012. The firm operates a global network spanning seven regional funds focused on China, Israel, Japan, Southeast Asia and India, the United States, healthcare, and growth-stage investments. For FY2025, Vertex's $100 million profit reflected strong portfolio performance including several high-value exits and listings. In January 2026, surgical robotics company Edge Medical listed on the Hong Kong Stock Exchange at approximately $2 billion valuation, while chronic eye treatment specialist SpyGlass Pharma listed on Nasdaq in February. Earlier in the fiscal year, major exits included the sale of EyeBio to Merck for up to $3 billion, Salesforce's acquisition of Own Company for $2.1 billion, and CrowdStrike's acquisition of Adaptive Shield for $300 million. Vertex confirmed five additional portfolio companies are lined up for initial public offerings in 2026.
Pillay's appointment reflects Temasek's strategic emphasis on tightening governance and operational coherence across its investment ecosystem as the parent company navigates structural reorganization. Temasek's shift from a monolithic entity into three specialized investment vehicles, combined with Pillay's concurrent assumption of four chairmanships, suggests the sovereign wealth fund is consolidating decision-making at the CEO-to-chair relationship. For Vertex, the appointment of a Temasek insider with prior board experience positions the venture firm to benefit from closer alignment with parent company capital deployment and co-investment strategies. The timing also indicates Temasek may view its venture capital and partnership arms as increasingly central to its T2030 long-term strategy, particularly as global direct investments have grown to represent 36 percent of Temasek's portfolio in 2025, up from 8 percent in 2004. Whether Pillay's elevation signals accelerated exits or capital redeployment from Vertex's portfolio remains to be seen, though the strong FY2025 exit activity suggests momentum is already underway.
