Golden Gate reaches $35m first close on $50m fund

Golden Gate Ventures

Singapore-headquartered Golden Gate Ventures (GGV) Wednesday said it had held the first close of its second investment vehicle, a $50 million early-stage fund committed to Southeast Asian tech startups as well as international companies looking to move to the region.

The early-stage VC firm held the first closing of this fund at $35 million from a mix of international investors and advisors, including Temasek, Facebook cofounder Eduardo Saverin, and Monitor Capital Partners (a European multi-family office). Additional partners included Singapore’s National Research Foundation, NAVER (parent company of LINE messenger), and Far East Ventures, the venture capital arm of Far East Organization,one of the largest property developers in Southeast Asia.

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