Singaporean venture capital firm Vertex Venture Holdings Ltd. has held the first close of its fourth Southeast Asian (SA) fund with $230 million in capital commitments.

With the new capital raise, Vertex Venture plans to continue backing early-stage technology for financial services, enterprise and consumers across the region and India.

The firm, part of Temasek Holdings Pte, said that most of the backers in its third fund, including Cathay Financial Holding Co., have invested in the new fund.

Vertex Venture is planning to complete the funding for the Southeast Asian fund in the next few months.