Vertex Ventures Southeast Asia and India (VVSEAI) announced on Tuesday that it has completed the fundraising for its fifth and newest fund with commitments of USD 541 million. VVSEAI Fund V is 80 per cent larger than VVSEAI Fund IV which was raised in 2019, the Singapore-headquartered VC disclosed, according to media reports.
The new Fund V raise for VVSEAI comes on the heels of strong cash-on-cash returns from its portfolio. This includes successful exits from its investments in Grab, FirstCry, XPressBees, Recko, among several others.
VVSEAI Fund V is backed by both existing and new Limited Partners, including sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe.
The fund corpus includes a dedicated co-investment envelope of $50 million for co-investing alongside the main fund in startups led by women founders.
More than 35 percent of the startups in VVSEAI Fund IV have at least one woman founder and this envelope will be used to further the fund’s intention of supporting more women entrepreneurs, as per media reports.