Temasek-owned Vertex Ventures closed its fourth Southeast Asia and India fund at US$305m
Singapore’s Temasek-owned Vertex Venture Holdings Ltd. closed its fourth Southeast Asia and India fund at US$305 million. A record amount for an early-stage investment vehicle in the region, Vertex was the first institution to back ride-hailing giant Grab
The new Vertex Ventures Southeast Asia and India fund, it exceeded the original target of US$230 million. The first Vertex Ventures Southeast Asia and India fund had returned 19.1% as of March, the second fund returned 24.3% and the third 36.4%, according to the firm. Roque Velasco, the managing partner of Galdana Ventures, said in a statement that is what led them to continue their relationship in the fourth fund with a larger commitment amount.
Anchored under Vertex Holdings it’s Southeast Asia and India fund has made 40 investments so far, including in Instarem and Validus Capital. They plan to continue investing in Series A-stage startups in enterprise technology, fintech, and consumer internet.
Investor interest in Southeast Asia is rising as they are looking for opportunities beyond the U.S. and China. Given the slowdown in China, they are focusing on outfits with strong track records internationally, said Alex Schmitz, managing partner and head of Asia Pacific at Capstone Partners, which helped with fundraising for Vertex’s new fund.