The fund, which exceeded its original target size of US$150M, will continue to invest in early-stage tech startups across enterprise technology, fintech and consumer internet

Vertex Ventures (Southeast Asia and India) announced today that it has made the final close of its third fund at U$210 million. The fund exceeded its original target size of US$150 million.

Fund III is the first fund with external Limited Partners (LP). Vertex SEA Fund I (2010 vintage) and Fund II (2014 vintage) are fully funded by Temasek Holdings via Vertex Venture Holdings.

The Vertex Fund III will continue to invest in early-stage technology companies in Southeast Asia and India across enterprise technology, fintech and consumer internet, it said in a statement.

“We will continue our strategy of investing in India-founded technology companies that we can help scale globally. Vertex SEA/India is part of the global network of Vertex funds. By being part of the global network, we are well positioned to spot global trends and back them early. It also gives us the ability to open many doors for our portfolio companies that both bring them new business opportunities as well as grow their teams across the world,” said Managing Parter Ben Mathias.

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Vertex plans to expand its presence to other Southeast Asian cities in the near future to better access local opportunities, said Managing Partner Joo Hock CHUA. The firm operates out of its offices in Singapore, Bangalore, and Jakarta.

Vertex SEA/India is by far the most established network member of the Vertex Venture Holdings group. Vertex SEA/India invests in high-growth companies seeking their first institutional funding across Asia, excluding China.

The fundraise for Fund III comes on the heels of multiple growing successes in its previous portfolio, most notably Grab, which raised US$ 2.5 billion from SoftBank and Didi Chuxing in July 2017. Vertex SEA/India is also the first institutional investor in Patsnap, M17/Paktor, and Reebonz. It is also an early investor in Indian companies such as FirstCry, XPressBees, and Yatra.

Some of Vertex’s recent investments include Validus, Turnkey Lender, and SpaceMob and InstaRem in Singapore, and Synup, Flutura, Ace Turtle and Cloudcherry in India.

Vertex Venture Holdings, a member of Temasek Holdings, focuses on venture capital investment opportunities in the IT and healthcare markets, primarily through its global family of direct investment venture funds. Headquartered in Singapore, it collaborates with a network of global investors who specialise in local markets. The Vertex global network comprises Silicon Valley, China, Israel, India, Taiwan and Southeast Asia.

 

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