Vertex Growth Fund of Vertex Venture Holdings has recently raised US$290 million for its inaugural fund, exceeding its target of US$250 million.
This funding round is led by Vertex Venture, the Singapore-based VC arm of investment firm Temasek Holdings.
Singapore-headquartered Vertex Growth offers growth capital to global startups, especially those emerging from the early-stage portfolio across the Vertex network.
It currently has about 200 companies in its early-stage portfolio.
The firm will invest about US$10 million to US$15 million in each startup, typically in the third and fourth round of funding.
This is a huge sum compared to US$3 million to US$4 million by affiliate funds in early rounds, according to DealStreetAsia.
To date, Vertex Growth have backed startups like Grab, Waze and Mobike.
Vertex Growth offers investors early access to next-generation technology, said managing director Tan Hock Chuan.
“We continue to see healthy interest, particularly from corporates who invest with a view to gain insights on innovation themes that may be relevant to their core businesses,” he added.
Featured Image Credit: Vertex Growth Fund
More Reads
S’pore’s First Maritime Drone Estate Sees Trials Of Drone Deliveries From Shore To Ship
S’pore Ride-Hailing Firm Ryde Steers Into “Ultra-Luxury Market” With New Premium Ride Service
Meet The 27 S’poreans Who Are On Forbes’ 30 Under 30 Asia List For 2021
SMRT To Fully Electrify Its Taxi Fleet By 2026, Starting With 300 EVs From July 2021
S’pore Electricity Retailer iSwitch Energy To Deploy 12 EV Charging Points In Malls, Carparks
