Singapore-based Vertex Growth has announced the final close of its inaugural fund Vertex Growth Fund I at $290 million, targeting investments in high-growth technology companies.
The growth stage technology venture capital fund surpassed the initial target fund size of $250 million, and is anchored by Vertex Venture Holdings, with secured commitments from several other Limited Partners across the Pan-Asian region. These include a sovereign wealth fund, leading institutional investors like Cathay Life Insurance, corporates across industry verticals, and family offices.
James LEE, Managing Director of Vertex Growth Fund, said,
“Digital transformation has accelerated across industries and technology continues to spawn new businesses. Vertex Growth aims to capitalise on these opportunities, mainly those emerging from the strong early-stage portfolio across the Vertex network. With about 200 companies in the portfolio today, we curate the best that offer further upside and an interesting risk-reward balance for our investors.”
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Vertex Growth is the sixth and newest member of Vertex Holding’s global network of funds focusing on investment opportunities in later stages. The firm looks to deploy growth capital to startups globally including Southeast Asia, India, Israel, China, and the US.
The Vertex network funds have invested in exceptional startups such as Grab, Waze, Mobike, Twelve, and Desktop Metal among others.
TAM Hock Chuan, Managing Director, Vertex Growth, added,
“Vertex Growth remains focused on delivering value not just to our portfolio companies, but also to our like-minded investors by providing them with early access to next-generation technologies. We continue to see healthy interest, particularly from corporates who invest with a view to gain insights on innovation themes that may be relevant to their core businesses.”
The Vertex Growth Fund I will continue Vertex’s strategy of identifying and capturing investment opportunities in transformational businesses. Since the beginning of 2019, the firm has invested in several companies including PerimeterX, Nuvaira, InstaReM, and Bicycle Therapeutics.
"It is important for us to work with a VC partner that can support us through our business-building journey, from our early formative stages when Vertex Ventures SEA and India invested in us, and now as we scale with Vertex Growth. In addition to continuity of capital support, we especially value the domain expertise, strategic perspectives and business leads that the Vertex platform brings,” said Prajit Nanu, CEO of InstaReM, SEA’s largest cross-border transfer platform.
(Edited by Teja Lele Desai)