Vertex Ventures is one of the venture capital funds that are linked to Temasek, which is the sovereign fund of Singapore. Sources have reported that it is closing its third investment fund for India and South East Asia. The sum for this investment is nearly 210 million dollars.
This was the first time that India-South East Asia fund-raised capital from vendors outside the country and this was the third instalment of funding. Vertex Venture Holdings, at the moment, carries out 5 funding operations all around the world. This includes the focus on vehicles in Israel, United States, and healthcare.
Some of the notable investments made by Vertex include Grab include the ride sharing giant, Patsnap, which is an IP analytics firm, M17/Paktor, a streaming service and Reebonz, an e-commerce firm. This new fund of South East Asia and India has Series A deals to be followed and some of the capital is going to get deployed in Series B stage.
The Limited partners that back up Vertex are Kasikorn Bank of Thailand with the help of its 30 million dollars Beacon fund along with Cathay Life Insurance, which is based in Taiwan. The managing partner of Vertex, Ben Mathias informed TechCrunch that the other backers wanted a combination of financial institutions and family offices all across Asia.
Mathias also said that the first close of this investment had come back in the month of November, 2016 and it is going to take three years for this fund to be fully deployed in India and South East Asia. He also added that he is bullish about applications that function as virtual ATMs, artificial intelligence in fintech and financial sector, payments and industrial Internet of Things.