The latest fund by Vertex Ventures Southeast Asia and India (VVSEAI) has received significant backing from both existing and new limited partners (LPs). The firm’s established LPs include sovereign wealth funds, financial institutions, corporations, and family offices across Asia and Europe. New investors, such as the Japan Investment Corporation (JIC), International Finance Corporation (IFC), and DEG (German Development Finance Institution), have also joined this round.
This new fund follows a period of strong cash-on-cash returns from Vertex’s portfolio, with notable exits including Grab, FirstCry, XpressBees, and Recko. According to Vertex, these successful exits have driven continued investor confidence.
“Our earlier funds have demonstrated superior cash-on-cash returns, outperforming industry benchmarks. This solid track record has encouraged most of our investors from VVSEAI Fund IV to return for Fund V, often increasing their allocations. We’ve also significantly expanded our investor base and are pleased to welcome our new Limited Partners,” said Ben Mathias, Managing Partner of Vertex Ventures Southeast Asia and India.
The fund includes a dedicated $50 million co-investment envelope specifically for supporting women-led startups. This initiative aligns with Vertex’s commitment to fostering gender diversity, as over 35% of the startups in its Fund IV portfolio have at least one female founder.
Piyush Kharbanda, General Partner at VVSEAI, highlighted the growing opportunities in India and Southeast Asia, stating, “This fundraise underscores the quality of opportunities in these markets. The macroeconomic potential is evident, but we are particularly excited about the increasing maturity of the ecosystem and the exceptional founders we are partnering with to build category-defining companies. In India, in particular, we are working with founders who are addressing diverse challenges across socioeconomic strata and creating world-class products.”
VVSEAI focuses on high-growth startups in Southeast Asia and India, primarily in Singapore, India, Indonesia, Thailand, Vietnam, Malaysia, and other emerging hubs in the region. The firm has made over 80 investments and continues to target early-stage technology and technology-enabled companies in sectors such as enterprise technology, financial technology, consumer internet, digital health, sustainability, and mobility.
