Incorporated in 1974, Temasek is an investment company based in Singapore. Supported by 11 offices globally, Temasek owned a $308 billion portfolio as at 31 March 2018, mainly in Singapore and Asia, followed by the Americas and Europe. Temasek's investment themes centre on transforming economies, growing middle-income populations, deepening comparative advantages and emerging champions. Its portfolio covers financial services; telecommunications, media and technology; transportation and industrials; life sciences, consumer and real estate; and energy and resources. Temasek invests in companies at different stages of their development, ranging from early-stage and unlisted investments to listed large assets.