Golden Gate invests in three Singapore e-commerce firms

Each of company caters to Southeast Asia's expanding e-commerce market. TradeGecko provides an online inventory and order management software for regional wholesalers, RedMart is an online grocery store and Coda Payments allows users to make online purchases through their cell phone accounts.

Golden Gate, which has offices in Singapore and San Francisco, launched its $10 million maiden fund in February and makes investments ranging from $50,000 to $500,000.

"We selected these investees for two reasons," Vinnie Lauria, founding partner at Golden Gate, said in a statement. "First, for their strength as high-growth start-ups that are already impacting regional buying and selling behaviors positively and expanding e-commerce in Asia. Second, because they plug us into a market of more than half a billion people."

With 650,000 new internet users coming online each month in Southeast Asia, Lauria predicts smart mobile devices will be the future of e-commerce in the region.

Golden Gate says its investment decisions are based on more than a year spent researching the region  and identifying grassroot market opportunities. The firm plans to make 10 investments in the coming year.

"Southeast Asia is brimming with smart, talented, and self-driven entrepreneurs. Mix that with double digit growth in the region and the stage looks set for us to create a number of breakout successes over the next few years," said Jeffrey Paine, also a founding partner at Golden Gate. "It reminds me of what China was in the early 2000's."

Earlier this month Golden Gate formed a strategic alliance with JFDI.Asia supporting early-stage digital start-ups in Asia as they move from concept to pre-Series A funding through a "bootcamp" program. Those businesses with sufficient traction are fast-tracked to additional funding of up to $600,000.

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• Topics
• Venture
• Southeast Asia
• Technology
• Consumer
• seed
• Singapore
• TMT
• Consumer