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Singapore's Vertex adds $290 million venture fund for high-growth tech firms

Reuters
Reuters9/12/2019 06:32 PM GMT+08  • 3 min read
Singapore's Vertex adds $290 million venture fund for high-growth tech firms
SINGAPORE (Sept 12): Singapore-based Vertex Venture Holdings, the first main backer of Southeast Asia’s ride-hailing giant Grab, has added a new $290 million venture capital fund targeting investments in high-growth technology firms, a senior company o
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SINGAPORE (Sept 12): Singapore-based Vertex Venture Holdings, the first main backer of Southeast Asia’s ride-hailing giant Grab, has added a new $290 million venture capital fund targeting investments in high-growth technology firms, a senior company official said.

The Vertex Growth Fund will seek to invest about $10 million to $15 million per company, typically in third and fourth round fundings, versus $3 million to $4 million by affiliate funds in early rounds, said Vertex Venture Holdings CEO Chua Kee Lock.

“Markets like Southeast Asia offer lot more opportunities to invest in growth capital,” Chua, who has headed the investment firm for more than a decade, told Reuters in an interview.

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