Vertex closes fourth Southeast Asia fund at $305m

Vertex Ventures Southeast Asia and India announced the final close of its fourth fund at US$305 million, following the first close in May, which reached US$230 million.

The new fund was backed by existing and new limited partners, which includes sovereign wealth funds, financial institutions, corporates, and family offices across Asia and Europe, according to a statement.

Photo credit: Vertex Holdings

Vertex has backed upwards of 40 companies across the region such as Grab, Patsnap, Validus, Tickled Media, and InstaRem, where it was the first institutional investor. Some of its recent investments include Indian social commerce firm GlowRoad, Indonesian guesthouse aggregator RoomMe, and Thai digital insurance platform Sunday.

It is currently completing its last remaining investments for Fund III and is looking to deploy capital from Fund IV before the end of the year, the company said in a statement.

Vertex also said it will keep its focus on early-stage series A tech firms in Southeast Asia and India in sectors such as enterprise technology, fintech, and consumer internet.

Last week, Vertex Holdings saw the most recent addition to its network of funds, Vertex Growth Fund, which recently hit its first close at US$290 million. The fund aims to invest in high-growth tech companies in their later stages.

Vertex also announced earlier this year that it has tapped selected Japanese partners to launch a US$770 million fund that will seek investment opportunities in the IT and healthcare spaces in China, India, Israel, Southeast Asia, and the US.

Each of Vertex’s funds is independently managed, raising the majority of funds from global investors with Vertex Holdings, a wholly owned subsidiary of Singapore’s Temasek Holdings, as the anchor investor.