SINGAPORE: Singapore-based Vertex Venture Holdings, the first main backer of South-East Asia’s ride-hailing giant Grab, has added a new US$290mil venture capital fund targeting investments in high-growth technology firms, a senior company official said.
The Vertex Growth Fund will seek to invest US$10mil (RM41.6mil) to US$15mil (RM62.5mil) per company, typically in third and fourth round fundings, versus US$3mil (RM12.5mil) to US$4mil (RM16.7mil) by affiliate funds in early rounds, said Vertex Venture Holdings CEO Chua Kee Lock.