Vertex Ventures Southeast Asia and India has achieved a fundraising round securing $541 million for its fund. The fund exceeded its target by 80%. Is primarily focused on making early-stage venture capital investments, in Southeast Asia and India. In a move towards promoting gender diversity in entrepreneurship, they have allocated $50 million for startups founded by women. This commitment to inclusivity, combined with their track record of delivering returns from previous investments in companies like Grab and FirstCry has attracted a wide range of investors, with diverse backgrounds.
Vertex Ventures Southeast Asia and India, a prominent venture capital (VC) firm, has successfully raised $541 million for its fifth fund, contributing to the growing pool of early-stage VC funds that have yet to be deployed.
The fund has garnered support from a diverse group of existing limited partners (LPs), including sovereign wealth funds, financial institutions, corporates, and family offices across Asia and Europe.
Additionally, new LPs such as the Japan Investment Corporation (JIC), International Finance Corporation (IFC), and DEG (German Development Finance Institution) have joined in endorsing the fund, as stated in a release on September 12.
Within the fund corpus, Vertex Ventures has allocated a specific co-investment fund of $50 million, designated for partnerships with startups led by female founders. This strategic move aligns with their commitment to fostering opportunities for women entrepreneurs, as more than 35 percent of the startups in their Fund IV portfolio already have at least one female founder.
The fifth fund has exceeded its initial target of $450 million, surpassing its fourth fund raised in 2019 by 80 percent, which amounted to approximately $305 million.
Vertex Ventures has demonstrated its ability to deliver strong cash returns to its LPs through successful exits from investments in companies such as Grab, FirstCry, XpressBees, and Recko, among others. This track record has led many investors from VVSEAI Fund IV to return for Fund V and increase their allocations. Ben Mathias, Managing Partner of Vertex Ventures Southeast Asia and India, welcomed both returning and new Limited Partners.
Vertex Ventures Southeast Asia and India is part of Vertex’s global network of venture capital funds, focusing on startups seeking early institutional venture capital funding in Southeast Asia and India, primarily in Singapore, India, Indonesia, Thailand, Vietnam, Malaysia, and other emerging hubs across the region.
With over 80 investments to date, the VC firm plans to continue investing in sectors like enterprise technology, fintech, consumer internet, digital health, sustainability, and mobility. It boasts eight investing partners and a total of 22 investing staff across its offices in Singapore, Bangalore, Jakarta, Bangkok, Ho Chi Minh, and Gurgaon. In India, it has backed notable companies such as the online meat-selling platform Licious, vernacular audio platform KukuFM, and digital lending platform Kissht, among others.
Vertex Ventures’ fifth fund launch coincides with a trend where numerous VCs, especially early-stage investors, have raised substantial funds recently. However, a significant portion of these funds remains uninvested due to prevailing macroeconomic challenges worldwide.
Since 2022, several VCs, including Peak XV, 3One4 Capital, Accel, Elevation Partners, Nexus Venture Partners, and Matrix Partners, have either raised or launched India-dedicated funds.
