Latest News | Vertex Ventures' SEA and India Arm Raises USD 541 Million
Get latest articles and stories on Latest News at LatestLY. Vertex Ventures Southeast Asia and India (VVSEAI) on Tuesday said it has raised USD 541 million (about Rs 4,489 crore) in a funding round.
New Delhi, Sep 12 (PTI) Vertex Ventures Southeast Asia and India (VVSEAI) on Tuesday said it has raised USD 541 million (about Rs 4,489 crore) in a funding round.
The VVSEAI Fund V exceeds its target fund of USD 450 million (about Rs 3,734 crore) and is 80 per cent larger than VVSEAI Fund IV raised in 2019, the company said in a statement.
The new Fund V raise comes on the heels of cash-on-cash returns from VVSEAI's portfolio and successful exits from its investments in companies such as Grab, FirstCry, XPressBees, Recko, and others.
The fund is backed by existing and new limited partners like Japan Investment Corporation (JIC), International Finance Corporation (IFC) and DEG (a German development finance institution), sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe.
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"Our earlier funds have had superior cash-on-cash returns and are outperforming benchmarks. This track record led most of our investors from VVSEAI Fund IV to return as investors in VVSEAI Fund V and increase their allocation.
"In addition, we expanded our total investor base significantly and are happy to welcome all our Limited Partners," Vertex Ventures SEAI Managing Partner Ben Mathias said.
VVSEAI invests in startups seeking their early round of institutional venture capital funding in Southeast Asia and India, with a primary focus on Singapore, India, Indonesia, Thailand, Vietnam, Malaysia and other emerging hubs across the region.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)