Vertex Ventures makes first close of fourth Southeast Asia fund at $230m

Singapore city skyline. Photo: Nicky Loh/Bloomberg

Vertex Venture Holdings Ltd. raised $230 million in the first close of its fourth Southeast Asian fund to back technology startups across the region and India.

The Singapore-based venture capital arm of Temasek Holdings Pte plans to finalize the funding in the next few months, which could take it above the first close, said Chua Kee Lock, managing partner of Vertex Ventures Southeast Asia and India. Most of the investors in its third fund, including Cathay Financial Holding Co., have backed the new one.

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