Vertex Ventures picks $150m for US Fund II

Temasek-backed Vertex Ventures has raised $150m for its second US fund at what appears to be its final close.

Vertex Ventures US Fund II has received capital commitments from 55 investors, according to an SEC filing.

Palo Alto-based Vertex has hit the fundraising goal listed in the filing but the document does not specify whether fund has reached final close.

The firm raised just over $150m for the fund’s predecessor back in 2015, a separate filing shows.

Typically, the firm invests in early-stage companies in the IT and healthcare sectors. The firm has said Vertex Holdings is an anchor investor in all the Vertex funds, therefore it has likely pitched in capital for this vehicle.

Vertex reportedly hit its $230m target for its latest venture fund focused on Southeast Asia and India.

The firm manages portfolio in China, Israel, India, Southeast Asia and the US, with $2.5bn of assets under management across its global operations.

Earlier in the year, Vertex participated in the $14m funding round ofd cloud-native network security platform Valtix.

Last year, the firm led the $5m Series A round of Life insurance big data platform Atidot. The company uses machine learning, AI and predictive analytics to enable life insurers and annuity writers to make better decisions for their customers.