Global law firm Baker McKenzie advised its longstanding client, Singapore-based investment company Vertex Holdings, on the formation and private placement of its fifth fund targeting investments in high-growth, early-stage technology and technology-enabled start-ups in Southeast Asia and India.
The VVSEAI Fund V has raised capital commitments worth $541 million, including $50 million through a separate co-investment vehicle that will invest alongside the fund in women-led startups.
The private placement includes existing and new investors comprising sovereign wealth funds, development finance institutions, corporate investors, family offices and other institutional investors across Asia and Europe.
The Baker McKenzie team advising Vertex was led by Kelvin Poa, principal at Baker McKenzie Wong & Leow and included a global team of funds, tax and regulatory experts.
Baker McKenzie also advised Vertex Ventures on the formation of Vertex Master Fund III, a fund of funds that will invest in Vertex Ventures' global network of funds. VMF III raised over $900 million at its first close from investors, which included Marubeni, the Development Bank of Japan and Risa Partners. Capital raised by VMF III will be deployed across Vertex Ventures' global network of regional and thematic funds.
“The overwhelming investor interest in VVSEAI Fund V and VMF III despite a tough fundraising environment underscores Vertex Ventures' expertise and track record in identifying highly successful investment opportunities in the highly competitive global start-up ecosystem,” Poa said in a statement.
Baker McKenzie’s funds team has remained busy despite geopolitical and market disruptions over the last two years, Asia chief executive Steven Sieker told ALB in an interview last month.
