Singapore's Vertex Closes $541M ASEAN India Fund Amid Tech Dip Private Equity News Asia Private Equity News Singapore

Singapore’s Vertex Closes $541M ASEAN India Fund Amid Tech Dip

Vertex Ventures Southeast Asia and India, a Singapore-based venture capital firm, has successfully raised $541 million for its latest and largest fund, Fund V.

The fund was launched in 2022 and was oversubscribed, exceeding the initial target of $450 million.

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Image Credit: Vertex

Despite a tough fundraising environment that has been impacting regional investors and startups, the fund has attracted new investors, including the government-backed Japan Investment Corporation (JIC), which has committed $30 million, as well as the World Bank’s International Finance Corporation (IFC) and Germany’s DEG. Vertex Ventures is known for investing in high-growth technology companies in Southeast Asia and India.

The success of Fund V demonstrates continued interest in investing in the region’s tech industry, despite recent market volatility and a tech dip.