Vertex Growth Chairman Kee Lock Chua
Vertex Growth, a part of the global venture fund network under Vertex Holdings, announced today its second fund has secured a commitment of US$15 million from Korea Venture Investment Corporation’s Foreign VC Investment Fund initiative.
With this partnership, Singapore-based Vertex Growth aims to expand its presence in Korea by developing strategic partnerships with the key players of Korea’s VC market.
In Korea, the fund will invest in home-grown startups, as well as foreign businesses owned by Korean founders, with disruptive and scalable products, and support their overseas expansion.
“With a strong focus on value creation beyond capital deployment, Vertex Growth is confident to write a new success story in the Korean startup landscape, and build a new breed of disruptive and resilient businesses,” said Kee Lock Chua, Chairman of Vertex Growth.
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Incepted in 2019, Vertex Growth invests in growth-stage opportunities emerging from Vertex’s five early-stage fund portfolios, with a primary focus in Asia, leveraging the durable competitive strength of the Vertex global network. It invests in growth-stage opportunities, across both IT and healthcare.
The Vertex network of funds invests in early-stage tech opportunities through Vertex Ventures, early-stage healthcare opportunities through Vertex Ventures HC, and growth-stage opportunities through Vertex Growth.
Each Vertex fund operates independently, with separate local teams that raise and manage their respective funds.
According to its latest report, Vertex has identified Japan and Korea as key markets that are set to gain global prominence.
In the recent years, Vertex has ventured into Northeast Asia, starting with Japan given the market prowess and financial heft of leading organisations that have a keen interest in open innovation and digital transformation.
The firm claims to have been forming partnerships with globally-oriented Japanese organisations and is currently rolling out the same successful model in Korea.
“One of the core values at KVIC is to drive innovation and build global champions out of disruptive local businesses. With Vertex Growth Fund’s robust track record of accelerating growth amongst promising start-ups, we believe there’s synergy between the two funds, and this collaboration will help strengthen entrepreneurial excellence within Korea. Together, we see making a difference in the local start-up ecosystem, and positioning Korea firmly on the global stage of innovation and technological advancement,” said Mingu LEE, Regional Director at KVIC.
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Image Credit: Vertex
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