Vertex Ventures eyes semiconductors, robotics and batteries in deeptech pivot

Outflows from previous funds

Vertex exited nearly a third of the 32 companies in its fourth fund, launched in 2020. A few releases are expected for this year as well; including audiobook and short content platform Kuku FM, which is set to make a $200 million debut in the public market this year. The firm plans to continue holding another Indian portfolio company, beauty and personal care brand Pilgrim, and Mathias says it will likely be ready for an IPO within the next 24 months. Earlier this year, the firm partially exited lending technology company Kissht, in which it had invested from its third fund.