Vertex Venture Holdings said today that it has closed a new fund of USD 305 million for Southeast Asia and India, exceeding its original target of USD 230 million and underlying growing interest in the regions.
This comes after the fund, which has backed companies such as Grab, Validus, and Tickled Media, announced in May its first close with USD 230 million.
The new fund is backed by both existing and new limited partners, including sovereign wealth funds, financial institutions, corporations, and family offices across Asia and Europe, according to the press statement.
Joo Hock Chua, managing partner of Vertex Ventures for Southeast Asia and India, said the goal is “to continue looking for high-growth startups in the region that we can build into global champions.”
Vertex Ventures Southeast Asia & India has made more than 40 investments across the region and will continue its strategy of investing in early-stage Series A technology companies in the regions, covering areas like enterprise technology, financial technology, and consumer internet.
Earlier in September, Vertex Growth Fund, which is also another fund within the Vertex network, also announced a final close with USD 290 million for its initial fund.