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(Bloomberg) -- 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.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiThe Mighty American Consumer Is About to Hit a Wall, Investors SayTesla and China Risk Leaving Volkswagen on a Road to NowhereTech Giants Power Stock Gains as Tesla Jumps 10%: Market

Bringing you the latest news briefs on fundraising activities in the Asia Pacific.

The firm, backed by Temasek, said the latest fund is 80% larger than Fund IV, which it closed at $305 million in 2019.

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.

Temasek-backed Vertex Ventures has announced the final close of its fifth Southeast Asia & India fund at $541m, or about 80% larger than the predecessor fund.