Vertex Ventures raises biggest fund for Southeast Asia, India tech deals at $210m

Vertex Ventures. Photographer: Sam Kang Li/Bloomberg

Vertex Ventures, the venture capital arm of Temasek Holdings Pte, has completed its biggest fundraising for Southeast Asian and Indian technology deals.

The Singapore-based firm closed its third Southeast Asian fund at $210 million, a record in the region that exceeded its target of $150 million. The money will be used for early stage investments, aiming to repeat its success with Grab. Vertex was the first institutional backer in the ride-hailing company, which went on to become one of the most valuable technology startups in the region.

Vertex is the oldest venture-capital firm in Southeast Asia, according to Chua Joo Hock, a managing partner of Vertex Southeast Asia and India, which has offices in Singapore, Bangalore and Jakarta. “We will expand our presence to other Southeast Asian cities to better access local opportunities,” he said.

Vertex Ventures SEA III marked the first time the firm raised money from outside investors such as Kasikornbank Pcl in Thailand and Cathay Life Insurance Co. in Taiwan. Vertex has had two funds focused on Southeast Asia in the past, fully funded by Temasek, Singapore’s state investment firm.

Some of Vertex’s recent investments include InstaReM, which provides cross-border payment services in more than 40 countries; Turnkey Lender, a software company for credit assessment and loan management; and Synup, a digital marketing startup in India. The firm plans to continue its strategy of investing in early-stage tech companies in enterprise technology, financial technology and consumer internet.

Also Read:

Vertex Ventures set to beat $150m target for SE Asia & India focused fund: Kee Lock

Singapore: Vertex Ventures co-leads $12m Series B in Israel’s Kryon Systems

Vertex Ventures joins $47.6m Series A round in US-based Palleon Pharma

Bloomberg

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.