Golden Gate, Hanwha target SE Asia's Series B rounds

The partnership will target consumer-centric platforms and services pursuing such themes as financial inclusion, healthcare, logistics, and e-commerce, and will participate in Series B rounds of $15-30 million, according to a report linked in Golden Gate’s Twitter feed. Bloomberg reported that the investors have raised $80 million for a fund with a target of $200 million.

Golden Gate and Hanwha aim to address the difficulty that many start-ups in Southeast Asia face in raising capital after the Series A round due to the lack of VC funds available to fill the gap. They expect up to 110 Series B investment opportunities to arise by 2021, with twice that many available in the following two years.

The new venture expands on the existing relationship between Golden Gate and Hanwha, which invested in Golden Gate’s second and third funds. Investments will leverage Golden Gate’s operational expertise and visibility as a prominent supporter of Southeast Asia’s start-up community, along with Hanwha’s financial resources and its global network of corporate and investment partners as a part of South Korean conglomerate Hanwha Group.

Golden Gate currently has $175 million in AUM, having closed its third vehicle at $100 million in September. The firm was launched in 2010 by entrepreneurs Vinnie Lauria and Paul Bragiel, along with local angel investor Jeffrey Paine, in order to provide financial backing and mentoring to the region’s fledgling tech start-up community.

Golden Gate also manages a cryptocurrency and blockchain fund in partnership with LuneX Ventures, founded last year by the firm’s former head of growth. 

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• Topics
• Southeast Asia
• North Asia
• Venture
• Fundraising
• Technology
• Singapore
• South Korea
• Golden Gate Ventures
• TMT