Vertex Ventures Raises $210 Million to Invest in Southeast Asia Startups
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Vertex Ventures Raises $210 Million to Invest in Southeast Asia Startups

Vertex Ventures Raises 210 Million to Invest in Southeast Asia Startups

Vertex Ventures, the funding arm of Singapore state financier Temasek Holdings, said it has raised a $210 million fund to invest in Southeast Asian and Indian startups, surpassing its target of $150 million. Vertex wants to proceed with its pattern of financing young technology startups in Southeast Asia and India across enterprise technology, financial technology and consumer Internet, the company said in a statement.

Vertex was an early backer of ride-hailing firm Grab. Grab reported a $2.5 Billion fundraising round in July.Vertex’s most recent investments include SpaceMob, which has been procured by co-working space startup WeWork, remittance payments company InstaRem and digital marketer Synup. It is also an early backer in Indian organizations such as FirstCry, XPressBees and Yatra.

Kee Lock Chua, managing partner of Vertex SEA/India said: “We were happy with the strong interest we received from investors towards deploying capital in startups in this region. In addition to Singapore and India, countries like Thailand, Indonesia and Malaysia have accelerated their support for the startup and venture capital ecosystem. We are thankful to our investors who believe in this opportunity and have supported us.”

The Vertex Ventures Southeast Asia and India team works out of three major offices situated in Singapore, Bangalore and Jakarta.”In addition to our current offices, we will expand our presence to other SEA cities in the near future to better access local opportunities,” Joo Hock Chua, managing partner, said.

Ben Mathias, managing partner, said: “We will continue our strategy of investing in India-founded technology companies that we can help scale globally. Vertex SEA/India is part of the global network of Vertex funds. By being part of the global network, we are well-positioned to spot global trends and back them early. It also gives us the ability to open many doors for our portfolio companies that both bring them new business opportunities as well as grow their teams across the world.”

The new subsidy is Vertex’s third for the zone but the first with external investors. Vertex’s past two assets for Southeast Asia were completely financed by Temasek Holdings.

Kashish Ambekar
Kashish Ambekar
Kashish moved to the United Arab Emirates from London after he graduated from UEL with a Masters of Business Administration specializing in Finance. Money smelled good, although tipping in rubies was a fortune in Dubai, which he couldn’t afford, let alone implement. India happened naturally by birth and the ever developing market proved no bounds in almost every Industry. The art of writing came naturally to him, short stories to professional articles in lieu of being therapeutic once, to a full time content writer. Currently he freelances as a content writer and is extremely devoted as his thoughts have found a way to be penned for technology in support to TechFunnel.com.

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