Vertex Ventures, an enterprise capital agency that is financed in part by Singapore’s government-run investment outfit Temasek (TEM.UL), is gearing up to raise a minimum of US$400 million.
This planned raise is expected to serve as capital for a brand-new Southeast Asia and India-based fund.
“Probably, the second quarter of next year is when we’ll kick off the process for our fund five,” said Ben Mathias, a Manager at Vertex Ventures Southeast Asia and India.
Vertex Ventures Southeast Asia and India fund is only one of Vertex Holdings’ wide-ranging collection of global funds. The fourth installment of the fund closed at US$305 million.
“We have not decided how big the fund will be but it’s safe to say that it will be bigger than fund four,” Mathias said, adding that the firm hopes to begin deploying its fifth fund sometime in 2023.
Vertex Holdings is renowned as one of the largest Southeast Asian-based funds, with over US$5 billion in assets under management and about 200 active companies in its portfolio.
One of its startups Seize went on to become one of Southeast Asia’s greatest ride-hailing and meals supply platforms, going public through a US$40 billion deal.
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