Vertex Ventures SEA and India closes Fund V at $541 Mn

Vertex Ventures Southeast Asia and India (“VVSEAI”) has completed the fundraising for its fifth and newest fund with commitments of $541 million.

The Fund V is backed by both existing and new limited partners, including sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe. New limited partners include Japan Investment Corporation (JIC), International Finance Corporation (IFC) and DEG (German Development Finance Institution).

Vertex Ventures closed its South-East Asia (SEA) and India-focused fourth fund at $305 million in September 2019.

According to Vertex Ventures, the new fund has come on the heels of strong cash-on-cash returns from its portfolio. This includes successful exits from its investments in Grab, FirstCry, XpressBees, and Recko, among several others.

VVSEAI invests in high-growth startups seeking their early round of institutional venture capital funding in Southeast Asia and India, with a primary focus on Singapore, India, Indonesia, Thailand, Vietnam, Malaysia and others.

The firm has made more than 80 investments and will continue its strategy of investing in early-stage technology and technology-enabled companies in sectors such as enterprise technology, financial technology, consumer internet, digital health, sustainability, mobility, and others.

Vertex’s India portfolio includes Licious, KukuFM, Kissht, Ace Turtle, Kapiva, BeepKart, Certa, Signzy and Ayu Health.