Vertex Ventures

Group launches full-stack smart co-working platform and plans to add 30-35 centres across 10 cities, targeting 50,000 seats nationwide

Mathias said there is a correction taking place in the ecosystem compared to three years ago when companies were given money unjustifiably

Vertex Ventures Southeast Asia and India (VVSEAI) on Tuesday said it has raised USD 541 million (about Rs 4,489 crore) in a funding round. The VVSEAI Fund V exceeds its target fund of USD 450 million (about Rs 3,734 crore) and is 80 per cent larger than VVSEAI Fund IV raised in 2019, the company said in a statement. The new Fund V raise comes on the heels of cash-on-cash returns from VVSEAI's portfolio and successful exits from its investments in companies such as Grab, FirstCry, XPressBees, Recko, and others. The fund is backed by existing and new limited partners like Japan Investment Corporation (JIC), International Finance Corporation (IFC) and DEG (a German development finance institution), sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe. "Our earlier funds have had superior cash-on-cash returns and are outperforming benchmarks. This track record led most of our investors from VVSEAI Fund IV to return as investors in VVSEAI

Founded by Achitha Jacob in August 2020, Proactive For Her offers evidence-based primary and preventive healthcare services for women across life stages

The deal comes in the background of growing popularity of audio platform, including local ones

We will allocate follow-on dollars so that we continue to back the companies through their life-cycle: Vertex Ventures MD Ben Mathias

Vertex plans to continue its strategy of investing in early-stage tech companies