Vertex Ventures Southeast Asia and India raises $541 million for its fifth fund

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Vertex Ventures Southeast Asia and India, a venture capital firm, has closed its fifth fund at $541 million. The fund is almost double the size of the last regional vehicle Vertex closed in 2019.

The new fund will be used to invest in startups in Southeast Asia and India, with a focus on consumer internet, enterprise and financial technology. The firm is also planning to set up a $50 million fund to invest in startups led by women founders.

New investors in the fund include Japan Investment Corp. and International Finance Corp., while most of the investors in its previous funds also participated.

Vertex Ventures Southeast Asia and India has been investing in the region for over 10 years and has backed more than 80 companies, including Singapore’s Grab Holdings Ltd., Nium Pte and Patsnap.

The firm’s managing partners, Chua Kee Lock and Ben Mathias, said that they are still seeing strong investment opportunities in the region despite the current slowdown in the global technology sector.

“Investors are still investing,” said Chua. “For those like us who show consistent performance, they will still commit.”

The firm plans to deploy the new fund over the next three to four years.


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