Germany's DEG to invest $18m in Vertex's Southeast Asia, India fund

Capital to back tech companies offering services for traditional industries

Vertex manages assets of over $5.1 billion across six partner funds in China, Southeast Asia, India, the U.S. and Israel. (Photo from Vertex Ventures Facebook Page)

MARS W. MOSQUEDA JR., DealStreetAsia

February 27, 2023 17:47 JST

CEBU, Philippines -- DEG, the investment arm of German state-owned development bank KfW, has approved an $18 million investment in the latest Southeast Asia and India-focused fund of Vertex Ventures, according to a disclosure.

The proposed equity investment is for Vertex Ventures SEA and India Fund V, which has a target of $500 million, higher than its previously reported target of $400 million.