Vertex Ventures Southeast Asia and India closed its fifth and biggest fund at $541 million to back startups in the region, defying a slowdown in the global technology sector during a tumultuous year.

The sum includes a $50 million vehicle that will pump in additional capital alongside its main fund into startups led by women founders, the Singapore-based firm said in a statement on Tuesday. New investors include Japan Investment Corp. and International Finance Corp., while most of the investors in its previous funds — such as Cathay Life Insurance Co. — put in capital again.

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Temasek-Backed Singapore VC Snags $541 Million Despite Tech Woes