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Vertex Growth Fund (“Vertex Growth”) achieves a resounding final close of its inaugural fund – Vertex Growth Fund I – at USD290 million. Demand for the fund surpassed the initial target fund size of USD250 million and it was expanded to accommodate the strong investor interests.
The growth stage technology venture capital fund is anchored by Vertex Holdings, with secured commitments from several other Limited Partners across the Pan-Asian region. These include a sovereign wealth fund, leading institutional investors like Cathay Life Insurance, corporates across industry verticals as well as family offices.
I-Hau YEH, Chairman of Elan Microelectronics Corp., one of Vertex Growth’s Limited Partners shared, “The strength of the Vertex network allows investors like ourselves to be at the forefront of technological innovation and gain a deeper understanding on future implications. We are excited to participate in the development of prospective global champions through Vertex Growth.”
James LEE, Managing Director of Vertex Growth Fund, said, “Digital transformation has accelerated across industries and technology continues to spawn new businesses. Vertex Growth aims to capitalize on these opportunities, mainly those emerging from the strong early-stage portfolio across the Vertex network. With about 200 companies in the portfolio today, we curate the best that offer further upside and an interesting risk-reward balance for our investors.”
TAM Hock Chuan, Managing Director, added, “Vertex Growth remains focused on delivering value not just to our portfolio companies, but also to our like-minded investors by providing them 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.”
Headquartered in Singapore, Vertex Growth is the sixth and newest member of Vertex Holding’s global network of funds. Focusing on investment opportunities in later stages, the firm looks to deploy growth capital to start-ups globally. Specifically, Vertex Growth has the advantage of early access to promising companies within the Vertex eco-system, leveraging on other network funds in major innovation hubs around the world like Southeast Asia, India, Israel, China and the US. The Vertex network funds have invested in exceptional start-ups, such as Grab, Waze, Mobike, Twelve and Desktop Metal.
As portfolio companies within the eco-system progress, they provide a strong pipeline for Vertex Growth, who is uniquely placed to support their businesses as they scale. And with insights into carefully curated deal flows, Vertex Growth also has the opportunity to invest in their growth stage. This effectively extends the support and commitment that Vertex as a global platform can offer to future-changing entrepreneurs, allowing the network to become a longer-term ally to these emerging champions.
“It is important for us to work with a VC partner that can support us through our business-building journey, from our early formative stages when Vertex Ventures SEA & India invested in us, and now as we scale with Vertex Growth. In addition to continuity of capital support, we especially value the domain expertise, strategic perspectives and business leads that the Vertex platform brings,” said Prajit NANU, CEO of InstaReM, SEA’s largest cross-border transfer platform.
The Vertex Growth Fund I will continue Vertex’s strategy of identifying and capturing investment opportunities in transformational businesses. Since the beginning of 2019, the firm has invested in several companies including PerimeterX, Nuvaira, InstaReM and Bicycle Therapeutics.