Singapore-based early-stage venture capital firm Golden Gate Ventures held the first close of their second fund, at US$35M.
Investors included Temasek, Eduardo Saverin (co-founder of Facebook), and Monitor Capital Partners, a European multi-family office, Singapore’s National Research Foundation, NAVER (parent company of LINE messenger), and Far East Ventures.
Golden Gate Ventures Fund II LP is a US$50M fund for Southeast Asian tech startups.
Led by Vinnie Lauria, Jeffrey Paine and Paul Bragiel, Golden Gate Ventures will continue to focus on internet and mobile startups targeting the Southeast Asian consumer and SMB markets, in sectors such as e-commerce, payments, marketplaces, and SaaS applications. In addition, the firm will maintain its “community first” approach, and continue to support the ecosystem through events, mentoring, and community-building activities such as WalkaboutSG, a city-wide open house that showcases Singapore’s top startups, co-hosted by SGX, the Singapore Exchange.
Golden Gate has invested in more than 25 companies across 7 countries in Asia. Companies in the portfolio include consumer marketplace Carousell.com, online grocer RedMart.com, property website 99.co, and mobile payments platform Coda Payments.