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Startups

Singapore's Vertex closes $541m ASEAN, India fund amid tech dip

New vehicle includes dedicated co-investment capital for female founders

From left: Vertex Ventures Southeast Asia and India Managing Partner Chua Kee Lock, Managing Partner Chua Joo Hock, General Partner Carmen Yuen and Managing Partner Ben Mathias. (Photo by Tsubasa Suruga)

SINGAPORE -- Vertex Ventures Southeast Asia and India has raised $541 million for its latest and largest fund, the Singapore-based venture capital firm announced Tuesday, despite a tough fundraising environment that continues to weigh on regional investors and startups.

Launched in 2022, the new Fund V was oversubscribed and exceeded the initial target of $450 million. New investors include the government-backed Japan Investment Corporation (JIC), which has committed $30 million, as well as the World Bank's International Finance Corporation (IFC) and Germany's DEG.

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