In this fundraising, Vertex Ventures managed to raise fund 80% larger than the Fourth Fund in 2019.
Heaptalk, Jakarta — Venture capital firm Vertex Ventures Southeast Asia and India (VVSEAI) has accomplished its fifth fundraising with a total value of up to US$541 million.
This fund is 80% larger than the previous Vertex fund which was raised in 2019. Also, the fund corpus of Vertex covers a dedicated co-investment of US$50 million that will be injected into the women-led startup. Based on the VC’s record, more than 35% of the startups in the fourth fund possess at least one woman founder.
According to the company, the VVSEAI’s fifth new fund comes on the heels of cash-on-cash solid returns from its portfolio. The portfolios include its investments in Grab, FirstCry, XPressBees, and Recko, whereby the firm has hugely succeeded in exiting with outstanding returns.
This fund is backed by existing and new limited partners, spanning sovereign wealth funds, financial institutions, corporations, and family offices across Asia and Europe. Vertex Ventures gained the support of its several limited partners, including Japan Investment Corporation (JIC), International Finance Corporation (IFC), and the German Development Finance Institution.
Further, to inject this capital into startups, the Managing Partner of Vertex Ventures Southeast Asia and India, Chua Joo Hock, revealed that the previous approach will be implemented. Instead of being a passive strategic investor, the company will forge a robust collaboration with the startup founders from the beginning.
Furthermore, Chua added, “We continue to be bullish about the tech startup opportunities in this region as we perceive the ecosystem is evolving deeper and becoming more mature. We have been early, and in many cases, the first institutional investor in successful Southeast Asian and Indian companies.
A glimpse of Vertex Ventures investment record
Possessing eight investment partners, with a total of 22 investment staff across its offices in Singapore, Bangalore, Jakarta, Bangkok, Ho Chi Minh, and Gurgaon, Vertex Venture SEA and India continues to focus on channeling the fund into the high-grow startups seeking their early round of funding in SEA and India, with a primary market in Singapore, India, Indonesia, Thailand, Vietnam, and Malaysia.
As a result, Vertex Ventures has made more than 80 strategic investments and will continue its objectives to inject early-stage technology companies into multiple sectors, such as enterprise tech startup, financial technology, consumer internet, digital health, sustainability, and mobility.
In the Indonesian market, Partner of Vertex Ventures Southeast Asia and India, Gary Khoeng, claimed the firm has also become an active investor for multiple startups, such as Dailybox, Fairatmos, Manuva, and TipTip.
On the other hand, fastest growing startups have also become the Vertex firm portfolio, consisting of the global cross-border payment platforms Nium, online farm-to-fork meat brand Licious, vernacular audio podcast startup KukuFM, global patent and innovation database platform PatSnap, digital insurance startup Sunday, an omnichannel retail app for brands Ace Turtle, and digital lender startup Kissht.
“We are pleased with the progress of VVSEAI in supporting the startups with women founders. While our focus is investing in regional champions, this parallel fund provides the additional resources to reaffirm our commitment to diversity, equity, and inclusion.” CIO of Temasek and Board Member of Vertex Holdings, Rohit Sipahimalani, said.
