SINGAPORE,Oct. 24,2024 -- Singapore-basedTower Capital Asia ("TCA" or "the Firm") is pleased to announce that Ectivate Pte Ltd ("Ectivate"),an investment platform owned by Tower Capital PE Fund I,LP (a fund managed by Tower Capital Asia),will acquire a majority stake in Kids Element Edutainment Pte Ltd ("Kiztopia" or "the Company").

Kiztopiais a highly recognisable family "edutainment" brand with large-format family entertainment centres ("FECs"),offsite events and Intellectual Property ("IP") content licensing across Southeast Asia and the East Asian region. The Company currently manages 15 FECs under five distinct brand concepts in Singapore,Hong Kong SAR,Thailand,Indonesia and Malaysia.

Following completion of the transaction,TCA will become the largest shareholder in Kiztopia,while the existing shareholders will retain the remaining stake. This partnership paves the way for Kiztopia to significantly scale its playground operations,to meet demand underpinned by rising affluence in Asia and favourable shifts in consumer behaviour toward immersive play-learning for children.

Mr Danny Koh,Founder and CEO of Tower Capital Asia,commenting on the deal,said,"We are delighted to welcome Kiztopia into TCA's family of portfolio companies. This proprietary deal aligns with our strategy of backing high-potential,storied businesses in South-east Asia poised for regional success. Kiztopia's innovative approach to family 'edutainment' and its clear growth trajectory make this a much-anticipated partnership. We look forward to supporting the Company as it forges ahead into its exciting future."

As part of the value creation roadmap,TCA will work closely with Kiztopia's management to further the Company's expansion plans through operational optimisation,innovation in the family "edutainment" space and IP development – encompassing licensing,merchandising and content creation.

Mr Xuan Yong Soh,Managing Director at TCA,added,"Kiztopia's dynamic management team,market leadership,coupled with its events and IP present a unique platform with exponential growth potential. We are excited to work together to advance the business sustainably and enhance customer experience by building on Kiztopia's proven model while leveraging strategic networks to amplify their presence in the region."

Founder and CEO of Kiztopia,Ms Heidi Tian,shared,"This partnership with TCA marks a new chapter for Kiztopia. Since our conception in 2019,we have been dedicated to creating imaginative,safe and engaging environments for children. We are now positioned to expand our footprint,refine core operating models and foster synergistic collaborations to accelerate business growth. We look forward to developing our IP content and bringing Kiztopia's enriching and immersive experiences to new markets and families."

About Tower Capital Asia

Established in 2016,Tower Capital Asia is a mid-market private equity firm based in Singapore. Backed by global expertise and anchored in Asian values,the Firm has led investments in the privatisation and/or buyout of Southeast Asian businesses – such as AXS,Boardroom,Eu Yan Sang and I Can Read – in close partnership with business sponsors. As of 30 June 2024,the Firm manages institutional funds totalling more than US$500 million. For more information,please visit www.towercapitalasia.com.

About Kiztopia

Kiztopia is a premier family "edutainment" brand with mega FECs,offsite events and IP content licensing across Southeast Asia and the region. Since the launch of its first outlet in Singapore in 2019,Kiztopia has expanded to 15 outlets across Singapore,Hong Kong,Indonesia and Malaysia. It offers immersive play environments that combine entertainment with education,providing young children with creative spaces designed to promote learning,social interaction and development.For more information,please visit www.kiztopia.com.