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Vertex Ventures holds final close of Fund V at $541m

Vertex Ventures Southeast Asia and India (VVSEAI) has held the final close of its fifth fund, at $541m in capital commitments. The firm, backed by Temasek, says the latest fund is 80% larger than Fund IV, which it closed at $305m in 2019.

Vertex’s new Fund V raise comes on the heels of what the firm calls strong cash-on-cash returns from its portfolio. This includes hugely successful exits from its investments in Grab, FirstCry, XpressBees, Recko, among several others, the firm said in a statement.

The new fund is backed by both existing and new Limited Partners (LPs), including sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe.

New Limited Partners include Japan Investment Corporation (JIC), International Finance Corporation (IFC) and DEG (German Development Finance Institution).

The fund corpus includes a dedicated co-investment envelope of $50m for co-investing alongside the main fund in startups led by women founders.

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