Vertex Venture Holdings, a subsidiary of Singapore state-owned investment company Temasek Holdings, reported Tuesday it has received a total of around US$74 million in distributions and divestment proceeds from its underlying funds.
“Such distributions by the funds were derived mainly from the divestments by such funds of their respective portfolio companies,” Vertex Venture said in a statement filed to SGX.
The amount is slightly above 5 percent of the group’s net asset value, based on its audited financial statements for 2020, Vertex Venture said in the filing.
The funds were received from its underlying Captive Funds and Network Funds for the period from 28 July — the date of issue of its S$450 million 3.30 percent notes due 2028 — through Tuesday, the filing said.
Captive funds are funds wholly funded by Vertex Venture, while network funds have raised both significant funding from external and global investors as well as anchor funding from Vertex Venture, the filing said.
In late September, Reuters reported, citing a senior executive, that Vertex Ventures expected to raise at least US$400 million next year for a new network fund focused on India and Southeast Asia.