TechCrunch: Founders, assemble! There’s a new fund from a familiar face in Southeast Asia. Singapore-based Golden Gate Ventures just announced its second, $50M fund to support startups in the region and international companies looking to move there.
The firm, which was founded in 2012 by a trio of US entrepreneurs, has closed an initial $35M chunk of the fund from a range of prominent investors which include Singaporean government fund Temasek, Monitor Capital Partners in Europe, Facebook co-founder Eduardo Saverin, and Naver, the Korean company behind messaging app Line.
Founding partner Vinnie Lauria, an American who settled in Singapore in 2011 after being impressed by the country during a stint traveling the world, told TechCrunch that the fund will be split into two to cover early-stage seed investments – the same focus as the first fund – and Series A follow-on deals, too. Read the full article
TechInAsia: After 25 Investments in Southeast Asia, Golden Gate Ventures Ups The Ante With $50M fund