Temasek pumps in $600m to propel VC arm Vertex Venture to go global

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’.

RelatedVertex Venture to invest $300-m in startups, VCs, says chief executive Chua Kee Lock

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.

Also Read:Vertex launches $200m China VC Fund III

Jakarta-based online grocery startup HappyFresh raises $12m in Series A led by Vertex, Sinar Mas

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Vertex Ventures leads $18m Series B investment in Silicon Valley startup Hedvig

 

 

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.