Temasek's Vertex adds new US$290m fund to back growth-stage tech firms

The new fund will invest about US$10 million to US$15 million per startup, typically in the third and fourth funding rounds, compared to US$3 million to US$4 million by affiliate funds in early rounds, according to a DealStreetAsia report on Thursday.

Yeh I-Hau, chairman of Taiwanese integrated-circuit design house Elan Microelectronics, one of Vertex Growth's limited partners, said:"The strength of the Vertex network allows investors like us to be at the forefront of technological innovation and gain a deeper understanding on future implications."

Tam Hock Chuan, managing director of Vertex Growth, said the firm provides investors with early access to next-generation technologies."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," Mr Tam said.

The Vertex network has about 200 companies in its early-stage portfolio. The funds are based in major innovation hubs such as South-east Asia, India, Israel, China and the US.With insights into carefully curated deal flows, Vertex Growth can invest in the growth stage of the businesses as they scale, the firm said.

Pajit Nanu, chief executive officer of cross-border digital payments startup InstaReM, said:"It is important for us to work with a VC partnership that can support us through our business-building journey, from our early formative stages when Vertex Ventures South-east Asia and India invested in us, and now as we scale with Vertex Growth."

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