Vertex Ventures to launch $770m fund with Japanese partners

Singapore’s Vertex Ventures, the venture capital arm of state-backed investment group Temasek, has tapped selected Japanese partners to launch a US$770 million fund, a spokesperson for the firm told Tech in Asia.

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Photo credit: Temasek

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“With these partners, Vertex will serve as a gateway to Japanese corporations with digital ambition or healthcare focus” as well as to the Vertex portfolio, said Chua Kee Lock, CEO of Vertex Holdings. The new fund is intended to become the anchor limited partner of its global network of VC funds, he added.

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No additional information about the company’s partners was disclosed, but Vertex is planning to release more details later in September.

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The VC firm also said it will use the fund to invest in startups focused on IT and healthcare. It will be actively looking for companies across China, India, Israel, Southeast Asia, and the US, according to the statement.

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Vertex, which has offices in Southeast Asia, Silicon Valley, China, India, and Israel, has been mainly chosen to back high-growth startups. It has made investments in companies such as ride-hailing giant Grab, online grocery platform HappyFresh, and global cryptocurrency exchange Binance.

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The Temasek unit also recently raised US$230 million in the first close of its fourth Southeast Asian fund, which will focus on early-stage startups in enterprise technology, fintech, and consumer internet sectors.