Golden Gate reaches first close on SE Asia VC fund

Major investors in the fund include Temasek Holdings and Facebook co-founder Eduardo Saverin, according to a release. Belgium-based family office Monitor Capital Partners has also provided support.

Golden Gate says the fund, which launched last year with a target of $50 million, will focus on internet and mobile-focused start-ups in Southeast Asia's consumer and business markets, particularly in e-commerce, payment, marketplaces and software-as-a-service (SAAS). The firm has invested in 25 companies across 7 countries since its founding in 2012.

In addition to raising its own funds, Golden Gate recently agreed to join a Singapore-focused venture debt program launched by DBS Bank. The program is meant to provide start-ups with a source of funds better suited to short-term expenses than the more customary means of issuing equity.

Southeast Asia's investment climate is highly favorable at the moment, according to a report released by Golden Gate. Vinnie Lauria, managing partner at the firm, said: "Southeast Asia has explosive growth in development and investment at much lower valuations [than China] - it's like going back in time and getting in on the ground floor of China's tech scene."

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• Topics
• Southeast Asia
• Venture
• Fundraising
• Singapore
• Southeast Asia
• Golden Gate Ventures
• Fundraising
• seed
• Venture