Vertex Ventures Southeast Asia & India has successfully raised USD 541 million in a funding round, surpassing its target fund of USD 450 million. This latest fund, Fund V, is 80 per cent larger than the previous fund raised in 2019.

The raise follows successful exits from investments in companies like Grab, FirstCry, XPressBees, and Recko. The fund is backed by various limited partners including Japan Investment Corporation, International Finance Corporation, and DEG. Vertex Ventures focuses on investing in startups in Southeast Asia and India, with a particular emphasis on countries such as Singapore, India, Indonesia, Thailand, Vietnam, and Malaysia.

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