Vertex Ventures raises $151m in new close for debut fund; Temasek anchor LP & India’s Infosys among investors

Visual from the Vertex Ventures website

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.

Other investments of Vertex Ventures include California-based storage startup Hedvig, and PerimeterX, a Silicon Valley-based startup focused on cloud security.

As reported earlier by this portal, Temasek has made a slew of investments in other VC firms, including Singapore-based venture capital firms Jungle VenturesMonk’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.

Also Read: Infosys partners American VC Vertex Ventures to boost access to startups

Temasek anchor LP in Vertex Ventures’ inaugural $141m fund

India: Infosys, Wipro tweak corporate venture strategy to back startups with disruptive tech

Exclusive: Vertex Venture beats $200m target for third China fund, hits final close on first US Fund, nears $120m mark for fourth Israel Fund

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.