The World Bank’s private investment arm, International Finance Corporation (IFC), has proposed a $20 million investment in Vertex Ventures’ Southeast and India-focused fund, Impact Investor said in a disclosure.
IFC has proposed a $20 million investment in the fund. In addition, a $20 million co-investment envelope is proposed, the statement said.
The Vertex Ventures Southeast Asia & India Fund is part of Vertex Holdings’ global fund network. It raised $305 million in its fourth fund. Last year, Reuters, citing another partner, Ben Mathias, reported that the new fund is expected to raise at least $400 million.
Vertex Holdings, one of the largest Southeast Asia-based funds, has $5 billion in assets under management in its fund and nearly 200 active portfolio companies. Funds focus on investing in their industry expertise and are independently managed.
“The fund has shown success with its previous funds. Access to venture capital is high in India and VC volume grows more than fourfold in 2021 yoy. Most VC volume is driven by late-stage VCs. Where rounds of funding are high, IFC said in a disclosure that while there is access to funding in the country, there are highly qualified and institutionalized in-house fund managers who can provide quality operational advice and guidance, particularly in the early stages. stay limited.
“The entire regional bloc still accounts for half of India’s overall VC penetration rate, suggesting that relative to the size of its economic activity, there is potential for more venture capital to meet demand,” IFC said.
In India, Vertex Ventures aims to close three to six new deals this year despite concerns about a slowdown in the market. Earlier this month, the company invested in Millennial Healthtech Pvt Ltd, which operates digital clinic Proactive for Her and is building on its newly launched healthcare thesis.
Over the past year, Vertex Ventures made five new investments, including Ayu Health, a hospital startup; Onato, a business-to-business (B2B) platform focused on fresh produce; and Karkhana.io, a business-to-business on-demand manufacturing platform. Notably, its existing portfolio, meat brand Lycius, also achieved unicorn status last year. Unicorns are private companies valued at at least $1 billion
The venture capital company will continue to focus on its three core areas of software-as-a-service (SaaS), fintech and consumer/consumer internet and, depending on the macro situation, on a few other topics.
Vertex is also expected to fully deploy its fourth fund by the end of this year and make its first cryptocurrency bet in India before raising a larger fund in 2023. vcircle,
In 2020, Vertex Ventures was facilitated by an exit from logistics company ExpressBiz through a $110 million investment round led by Bahrain-based alternative investment firm Investcorp.
In April, IFC committed at least US$35 million to Desi Motilal Oswal Private Equities’ (MoPE) fourth fund, which is worth over US$588 million (Rs.4,500 billion). Impact Investor said in a disclosure the IFC is willing to invest up to $35 million (approx. Until then.
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