Fundraising

Vertex Ventures bets on retail internet

Temasek-backed investment fund has exceeded fundraising expectations as it closes its Fund IV. It will continue to bet on the growth of the mobile internet in SEA and India.

Vertex Ventures, the fund backed by Temasek, said on Thursday that it had added another $75 million to its Fund IV targeting Southeast Asia and India.

The fundraising is a follow-on of its $230 million round which it completed in May. The top-up $75 million exceeds its expectations of raising $50 million in six months and marks the final close of the fund.

Vertex intends to deploy the capital in Fund IV before the end of this year, continuing to invest in early-stage technology companies at a Series A level.

“New investors have come in over the last four months,” Ben Mathias, managing partner...

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