Incorporated in 1974, Temasek is an investment company based in Singapore. Supported by 11 offices globally, Temasek owns a $308 billion portfolio as at 31 March 2018, mainly in Singapore and Asia, followed by the Americas and Europe. Geographically, the US accounted for the largest share of the new investments during 2018. China and Europe were the next two largest investment destinations. The resultant portfolio is 60% in mature and 40% in growth economies. Temasek's investment themes centre on: transforming economies; growing middle income populations; deepening comparative advantages; and emerging champions. Its portfolio covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; life sciences, consumer and real estate; as well as energy and resources. Temasek invests into companies at different stages of their development, ranging from early stage and unlisted investments, to listed large assets.