Vertex Ventures announces the final close of its SEA & India Fund IV at $305M
Vertex Ventures aims to start deployment from Fund IV before the end of the year, and will continue its strategy of investing in early-stage Series A technology companies in Southeast Asia and India.
Vertex Ventures, an early-stage venture capital arm of Singapore-based investment company Temasek Holdings, has announced the final close of its Southeast Asia and India-focused Fund IV at $305 million.
The firm had made the first close of its SEA & India Fund IV at $230 million, in May this year.
Fund IV was backed by both existing and new Limited Partners, including sovereign wealth funds, financial institutions, corporates, and family offices across Asia and Europe.
Roque VELASCO, Managing Partner of Galdana Ventures, a Limited Partner of Vertex Ventures SEA & India in Fund III and Fund IV, said,
“Vertex is one of the best performing funds in the region. We are very happy with the performance of Fund III and with the portfolio they have managed to build, which is what caused us to continue our relationship in Fund IV with a larger commitment amount."
The new Fund IV raise for Vertex comes on the heels of multiple growing successes in its portfolio, which includes companies like Grab, Patsnap, Validus, Tickled Media, and InstaRem among others, it added in a release.
Ben Mathias, Managing Partner of Vertex Ventures SEA & India, said,
“Our earlier funds have had superior returns and are outperforming benchmarks. This track record was what helped us close the fund so quickly.”
Vertex Ventures SEA & India has made more than 40 investments across the region and is completing its last remaining investments in Fund III. The firm aims to start deployment from Fund IV before the end of the year, and will continue its strategy of investing in early-stage Series A technology companies in Southeast Asia and India, across enterprise technology, financial technology and consumer internet.
Some recent investments include GlowRoad (social commerce leader in India), RoomMe (guesthouse “kosts” aggregator in Indonesia), and Sunday (digital insurance platform in Thailand).
Vertex Ventures SEA & India is one of the six major funds in Vertex's global network of venture capital funds. Each of the Vertex Funds is independently managed and raises the majority of its funds from global investors with Vertex Holdings as the anchor investor. Vertex Holdings is a wholly-owned subsidiary of Temasek Holdings.
Earlier in September, Vertex Growth Fund (VGF) — another fund within the Vertex network — announced a final close of $290 million for its initial fund.
(Edited by Teja Lele Desai)