Vertex Venture Holdings Ltd. held the first close for its fourth fund with US$230 million in capital commitments, Bloomberg News reported, citing the company's Managing Partner Chua Kee Lock.
Vertex, which is the Singapore-based venture capital arm of Temasek Holdings (Pte.) Ltd., plans to cap off the fund in the next few months, Chua said. The fund will invest in early-stage technology companies in Southeast Asia and India, the report noted.
The net internal return rate of the fund, which received support from existing investors including Cathay Financial Holding Co. Ltd., was 45.2% as of December 2018, according to the report, citing the firm's investor presentation.