Singapore state-fund Temasek Holdings is pumping an additional $600 million into its subsidiary and venture arm – Vertex Venture Holdings Ltd – to enable it to invest in startups across the U.S, Israel and China.
Vertex, which has offices in Singapore, Beijing, Shanghai, Taipei, Bangalore, and the Silicon Valley, invests in both emerging companies as well as leading venture capital funds, and it has pumped in over $1.2 billion into 350 plus startups as well as 90 third party VCs since it was set up.
Currently, a large chunk of Vertex’s investments are focussed on Asia. Vertex Venture group president and chief executive Chua Kee Lock had told this portal last year that about 60% of the firm’s ‘money was invested in China, about 10% in India and perhaps 10% in South-East Asia and Taiwan, another 10% in Singapore’.
Chua Kee Lock in a report said the Vertex would also look at investing in healthcare with the new $600 million capital it was getting from Temasek, while continuing its focus on existing focus on sectors such as technology, media and Internet-based start-ups. He further said the funds would be ‘invested in firms ready to expand with proven products and revenue streams’ The Straits Times, said in a report. It also quoted him as stating that the start-up would receive around $2 million in the growth phase.
At present, Europe remains the only place where Vertex is not present, and the venture firm plans to expand operations to that continent.
Vertex’s investments include India-based travel portal yatra.com, Reebonz and mobile taxi app GrabTaxi, among several others, while four of its protfolio companies have been listed in the recent past, and it has seen about six exits during this period. Its last fund, which had closed at $250 million had given around 30% returns, which the firm is confident to match that going forward.
Highlighting its investment strategy, Chua Kee Lock told DEALSTREETASIA last year that about 70-75% of its money was invested directly into companies, while approximately, about 25%, was being put into VC funds.
This portal had reported eearlier this year that Singapore state-fund Temasek Holdings’ wholly owned investment arm – Vertex Venture Holdings – had begun raising its third China fund and was targeting $200m.
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