Shanghai-based venture capital (VC) firm Gobi Partners has reached the first close of its new Meranti ASEAN Growth Fund at $50 million.
The VC firm aims to raise a total of $200 million for this growth fund, which will target Series B and C rounds and concentrate on cloud services, e-commerce, fintech and Muslim-focused tech (also known as Taqwatech). It will build a portfolio of 15 companies or more, with investment ticket sizes ranging from $5 million to $20 million per transaction.
