Image credit: EJ Hassenfratz.
Vertex Ventures, the venture capital arm of Singapore’s Temasek Holdings, has closed its third tech fund at US$210 million, making it the largest fund in Southeast Asia, according to Bloomberg. The fund also invests in Indian startups.
The fund was first announced in August with a target of at least US$150 million. It aims to invest mainly in series A rounds, with check sizes from US$3 million to US$5 million, Vertex told Tech in Asia at that time. It will focus on enterprise tech, fintech, and consumer internet.
The firm’s perhaps most notable investment today is its participation in Grab’s early financing rounds. The ride-hailing firm raised US$2.5 billion in its latest round.
“We will expand our presence to other Southeast Asian cities to better access local opportunities,” states Chua Joo Hock, managing partner of Vertex Southeast Asia and India, in a press release.
Vertex now has offices in Singapore, Bangalore, and Jakarta.
Editing by Judith Balea
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