XA Network, an investment network comprising senior executives from leading global and regional technology companies, has invested an undisclosed amount in Vertex Venture’s fourth fund.
The US$305-million fund aims to back Series A and B startups in Southeast Asia and India.
As part of the partnership, Vertex will be able to access XA’s deep-tech expertise and vast talent network to support its investments and portfolio companies.
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In return, Vertex will provide XA insights from a global investor’s perspective and access to its affiliates from Silicon Valley, China, Israel, Southeast Asia and India.
Joo Hock Chua, Managing Partner at Vertex SEA and India, said that this partnership would help both the companies grow their portfolios and provide them with the necessary aid it will need to expand further.
“XA members have deep and diverse expertise in tech, marketing and operations. We certainly look forward to working with them closely to help our portfolio grow,” Chua said in a statement.
Formerly known as Xoogler Angels, XA Network aims to provide smart capital to early-stage companies across the Asia Pacific region. The network was founded in 2018 by distinguished executives from companies such as Microsoft, Netflix, Apple, AWS, Facebook, Twitter, LinkedIn and PayPal.
The network has invested in a wide variety of sectors and over 20 companies since 2018, including Tigerhall, Neuron, Pencil, and Infradigital.
Vertex is a global investment firm backed by sovereign wealth fund Temasek and focuses on Series A and B deals. Its Fund IV managed to raise US$305 million against the target corpus of US$230 million. Its portfolio firms include Grab, InstaRem, PatSnap and kids e-commerce firm FirstCry.
The VC firm has offices in Singapore, Jakarta and Bangalore.
Vertex recently joined “The Mentor For Hope” programme which aims to provides mentorship to founders affected by the COVID-19 crisis, besides helping charities raise funds.
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Image Credit: Aditya Chinchure
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