Vertex Growth Fund recently raised $290 million, according to media reports. Vertex Growth Fund is backed by Vertex Venture — a venture capital arm of Singapore’s investment company Temasek.
The Vertex Growth Fund will invest roughly $10 million to $15 million per in third and fourth round of funding per startup, according to CEO Chua Kee Lock. Southeast Asia offers significant investment opportunities in growth capital.
Previously, Vertex Venture and India Fund invested in Grab at its early startup stages. Chua told the media that they had to stall investments at a point when companies reached a stage of speeding up their growth.
Vertex Growth is the sixth and latest member of Vertex’s global fund network across China, Southeast Asia and India, the US and Israel. It has invested 10 percent of its capital in companies in the US, the UK and Southeast Asia.
Vertex Growth is headquartered in Singapore. It is mainly focused on investment in companies at growth stage, especially the ones present in early-stage portfolio across the Vertex network.
Currently, Vertex Ventures has $3 billion in assets under management across its funds network. It has invested in more than 200 companies. Vertex Ventures’ funds are specially designed to target investments in their regions and run independently.
Prajit Nanu, chief executive officer of cross-border digital payments startup InstaReM, told the media, “It is important for us to work with a VC partnership that can support us through our business-building journey, from our early formative stages when Vertex Ventures South-east Asia and India invested in us, and now as we scale with Vertex Growth.”