May 16, 2019 / 10:54 AM / 5 months ago

Temasek-backed Vertex raises $230 million for new Southeast Asia fund

SINGAPORE (Reuters) - Vertex Ventures, backed by Singapore state investor Temasek, said it has raised $230 million in the first close of its latest fund to invest in Southeast Asian and Indian technology start-ups.

The firm was an early investor in ride-hailing giant Grab. Its portfolio includes payments start-up InstaReM, online grocery platform HappyFresh and cryptocurrency exchange Binance.

Vertex expects a final close for the fund, its fourth for the region, over the next few months, it said in a statement.

It plans to continue its strategy of investing in early-stage technology companies in Southeast Asia and India across enterprise technology, financial technology and consumer internet.

The combined Vertex Ventures Southeast Asia and India team operates out of three main offices in Singapore, Bangalore, and Jakarta.

Reporting by Aradhana Aravindan; editing by Rashmi Aich

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