The Singapore fund is closing a $150 million fund for mature startups and Vertex's $150 million 4th fund, "DEALSTREETASIA" reports.
Vertex Venture Capital is set to close its $150 million fourth fund. Vertex founder and general partner Yoram Oron told "DEALSTREETASIA" “The fund (was) meant to be closed at $100 million but was oversubscribed, and is closing these days with $150 million.”
Oron sits on the boards of Vertex portfolio companies Correlsense, Cyber-Ark, and Heptagon.
Vertex is the wholly owned investment arm of Singapore state fund Temasek Holdings. "DEALSTREETASIA" also reports that Temasek itself is set to close a new $150-million fund to invest in mature Israeli startups. Temasek Holdings will serve as the anchor investor, with other investors joining the fund, which will be called Red Dot fund, and will invest between $10 million and $15 million in each company in its portfolio. Oron will also be the chairman of Temasek’s new Red Dot fund, while other partners will be Tzvika Nagan, a former executive at Bank Hapoalim (TASE: POLI) in charge of information systems, and Yaniv Stern, a former McKinsey & Company consultant. “Red Dot is a Temasek Fund and is a sister fund to Vertex Israel. Yes the Red Dot fund is different from Vertex. Red Dot is a growth fund focusing on maturing and growing Israeli technology companies. Vertex Ventures Israel is one of the pillars of the Vertex Group’s network of Funds. In addition to Vertex Ventures Israel, Vertex Group has separate funds focusing on information technology opportunities in China, Silicon Valley, India and South East Asia, and global healthcare opportunities. The funds and GPs across the network work closely together to support our entrepreneurs as they scale their companies globally,” Oron told "DEALSTREETASIA."
Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Vertex fund partners