Vertex Ventures said to close third fund on $210m

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fintech insurtech wealthtech regtech ai cybertech esg news

Venture capital firm Vertex Ventures has reportedly closed its third Southeast Asian venture vehicle on $210m.

Vertex Ventures SEA III, which had an initial target of $150m, has a focus on investing in FinTech, enterprise and consumer internet businesses, according to an article by Bloomberg. This new equity will be used to back early-stage investments.

Vertex Ventures is the investment arm of Singapore-based Temasek Holdings, and has a presence across, California, China, Israel, India, Taiwan and Southeast Asia.

The new fund marks the first time the firm has received backing from outside investors like Kasikornbank and Cathay Life Insurance, the article states.

This year the firm has made various investments with the firm backing online lending platform Validus Capital with $2.9m. Other commitments this year also include an undisclosed deal into loan life-cycle automation platform Turnkey Lender, and leading the $4.5m funding round of database technology solutions DBmaestro.

FinTech investments in Asia have recovered from a three quarter decline in funding, with Q2 2017 seeing over $4.5bn more deployed in the quarter than Q1 2017.

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