Vertex Ventures, the sovereign equity investor of Temasek Holdings, has accomplished the most important fundraising round for a technology deal in Southeast Asia and India, it said. Reuters AgencyThe Singapore-based firm closed its third fund in Southeast Asia with $210 million, a record for the region and exceeding its $150 million goal.
The fund was first announced in August with a goal of not less than $150 million. It intends to take a position primarily in Series A rounds, with check sizes starting from $3 million to $5 million, Vertex said Technology in Asia at the moment. His focus might be on enterprise technology, fintech and the buyer web.
The money might be used for early-stage investments to duplicate its success with Grab. Vertex was an early investor in ride-hailing company Grab, which has develop into one among the region’s most respected tech startups.
In July, Grab announced a $2.5 billion funding round. One source said the corporate was valued at $6 billion.
Recent Vertex investments include SpaceMob (acquired by co-working space startup WeWork), money transfer company InstaRem and digital marketing firm Synup.
“In addition to our current offices, we will expand our presence to other cities in Southeast Asia in the near future to better leverage local opportunities,” said Joo Hock Chua, Managing Partner, as quoted by CNBC.
Vertex Ventures SEA III was the primary time the corporate had raised money from outside investors, including Kasikornbank Pcl in Thailand and Cathay Life Insurance Co. in Taiwan. Vertex previously had two funds focused on Southeast Asia, fully funded by Temasek, Singapore’s state investment firm.
