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Vertex Ventures and XA Network enter strategic partnership

XA Network has made a limited partner commitment in Vertex’s Southeast Asia and India fund.

Source: Vertex Ventures

Singapore-based XA Network on Tuesday announced a strategic partnership with VC firm Vertex Ventures and investment in Vertex’s Southeast Asia and India fund. Vertex Ventures will be able to access XA’s expertise and talent network, supporting its investment and portfolio companies.

XA Network was founded in 2018 as an investment network comprising top executives from global and regional tech companies, such as Google, Apple, Facebook, and Cisco. Formerly known as “Xoogler Angels”, it provides capital to early-stage companies in the Asia Pacific region. XA Network has made 16 investments to date, and has deployed over USD 3 million in startups across industries, including Tigerhall, Pencil, Neuron Mobility, and Infradigital.

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Meanwhile, Vertex Ventures focuses on Series A and B deals. It has built a strong track record spanning multiple cycles. Vertex’s portfolio includes companies like Grab, Patsnap, Validus, Tickled Media, Warung Pintar, and Nium. Their latest fund (Fund IV) was largely oversubscribed at USD 305 million.

“We are delighted to have XA as an LP. We certainly look forward to working with them closely to help our portfolio grow,” said Vertex Ventures managing partner Joo Hock Chua in a statement.

“We wanted to give our members the exclusive opportunity to diversify their investments by getting access to later-stage companies via their investment in a top-performing fund,” Maya Hari, XA member and Twitter’s APAC managing director told KrASIA. “Vertex is the partner of choice as one of Southeast Asia’s pre-eminent venture capital funds with deep roots, stellar performance, and a history of making important institutional bets in Southeast Asia’s technology landscape. Both Vertex and XA’s portfolio of companies can leverage on each others’ experienced members. The startups will be able to access insights and expertise during their due diligence process, as well as tap on their talent network for hiring.”

The article has been updated with additional comments.