Vertex raises $230m for India, Southeast Asia fund

Vertex SEA/India Fund IV will continue the firm's strategy of backing early-stage disruptive and transformational businesses in the region in order to help build them into global leaders. A final close of the fund is expected in the next few months. Target markets will include Singapore, India, Indonesia, Thailand, and Malaysia.

LPs in the fourth fund include many returning investors from Vertex Ventures SEA III, which closed at $210 million in 2017. Commitments for that vehicle, the first to attract investors other than VVH, came from the likes of Thailand's Kasikornbank and Taiwan's Cathay Life Insurance.

For its India and Southeast Asia investments, Vertex focuses on the enterprise technology, financial technology, and consumer internet verticals. It was an early investor in ride-hailing and internet services platform Grab, and has backed several funding rounds for Singapore-based digital payments platform InstaRem, Indian online meat and seafood marketplace Licious, and fintech developer Kissht.

Vertex has a global presence, with teams for Israel, the US, and China in addition to Southeast Asia and India that raise and manage funds independently for each market. In addition, the firm invests the Vertex Ventures HC and Vertex Growth vehicles focused on healthcare and growth-stage opportunities, respectively.

"Our unique strength is in the value-add we bring to our portfolio," said Ben Mathias, a managing partner for Vertex based in India, in a statement. "By fully leveraging both Temasek's and our global network, we are able to help our entrepreneurs in cross-border expansion and door-opening relationships with partners and customers."

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• Topics
• Southeast Asia
• South Asia
• Venture
• Fundraising
• GPs
• Technology
• Singapore
• India
• Vertex Management (II)
• TMT