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Temasek's VC arm Vertex wraps up growth fund

Temasek Holdings (Pte.) Ltd.'s venture capital arm, Vertex Venture Holdings Ltd., held a final close for its most recent fund at $290 million, Bloomberg News reported.

Vertex Growth Fund, which targets investments in technology startups, surpassed its initial target of $250 million. The fund is supported by Cathay Life Insurance Co. Ltd., ELAN Microelectronics Corp. and other investors, the news outlet noted, citing a statement from the fund's managing director, James Lee.

Separately, Reuters reported, citing unnamed sources, that Temasek, private equity giant KKR & Co. and other suitors have progressed to the second bidding round for a stake in the hospital business of Metro Pacific Investments Corp.

More than a dozen investors reportedly expressed interest in the business, which operates 14 hospitals in the Philippines. Bidders are looking to buy a majority economic stake in the business at a valuation of up to $2 billion, sources reportedly said. Sources with knowledge of the matter told Reuters that CVC Capital Partners Ltd. and strategic investors are also among the bidders.

CVC, KKR and Temasek did not comment, while Metro Pacific did not immediately respond to requests for comment, according to Reuters.