Palo Alto, California-based Vertex Ventures has announced a new close at $150.95 million for its inaugural early-stage fund, and DEALSTREETASIA has learnt that Singapore-state fund Temasek is the anchor investor, while Indian IT major Infosys Ltd has also come on board.
Vertex Ventures is different from Singapore-based venture capital firm, Vertex Venture Holdings, a wholly-owned subsidiary of Temasek Holdings.
Vertex Ventures, co-founded by General Partners In Sik Rhee and Jonathan Heiliger to make early-stage investments in enterprise and cloud infrastructure companies, said a regulatory filing that it had raised $150.95 million for its inaugural fund (Vertex Ventures US Fund I, L.P.)
In total, it had raised this amount from 43 investors.
In an August 2015 regulatory filing, Vertex said it had held a close at $140.9 million for this early-stage fund from 41 investors. Prior to that, in yet another regulatory filing, the venture capital firm had announced that it had also held an initial close of this fund in January 2015 at $107.5 million.
The fund has already made several early stage investments. The latest was its investment in Perfecto Mobile, a provider of high-quality digital and mobile experiences for businesses, which had raised $35 million in funding in November 215. Other investors in Perfecto’s funding round included Technology Crossover Ventures, FTV Capital, Carmel Ventures and Globespan Capital Partners, and the company said it would use the capital for product expansion.
As reported earlier by this portal, Temasek has made a slew of investments in other VC firms, including Singapore-based venture capital firms Jungle Ventures, Monk’s Hill Ventures, and Golden Gate Ventures (GGV).
The Temasek investment in the Palo Alto, California-based firm, also comes at a time when its wholly owned investment arm – Vertex Venture Holdings – has hit the final close of its first US-focussed fund at a little less than $150 million, meeting its target.