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Vertex raises $600m for China, US, Israel investments

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Vertex Ventures, the VC arm of Singapore's Temasek Holdings, has received $600 million from its parent to invest in start-ups in China, the US and Israel.

The GP plans to provide funds to companies in the chosen regions with proven products and revenue streams that are seeking money for expansion, according to a story in the Straits Times reposted on Vertex's website. Investments will be at least $2 million in size.

In addition to Vertex's normal focus on the technology, media and internet sectors, investments will also target healthcare start-ups. The firm expects to reap profits from continued technological innovation and disruption.

Vertex is not the only Asian investor to see opportunities in Israel. A growing number of Chinese firms have committed funds to Israeli start-ups, and Chinese LPs have also invested in Israeli funds. Investors are attracted by Israel's reputation as a hub for high-tech development and by companies' tendency to move quickly to an international market.

While Israel will be new territory for Vertex, the firm has significant experience in China. Last year it led a Series B round for household services booking app Ayibang, and a $30 million round for cross-border e-commerce platform Metao. Vertex, along with several other VC backers, also exited online furniture retailer Meilele earlier this year for a total of $66 million.

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