Singapore’s Golden Gate Ventures said to be raising $100m VC fund

The Golden Gate Ventures team. Source: Golden Gate's Twitter account

Singapore’s Golden Gate Ventures is raising a $100 million third fund to continue investing in Southeast Asia’s burgeoning market for e-commerce, payments and mobile apps, according to a person familiar with the matter.

The new fund is expected to have a first close before the end of this month and the final close by the end of 2018, said the person who asked not to be identified because the information is private.

Founded by former Silicon Valley entrepreneurs Vinnie Lauria, Jeffrey Paine and Paul Bragiel in 2011, Golden Gate Ventures was one of the earliest VC firms to target Southeast Asia’s nascent technology sector. It has since launched two funds and invested in more than 30 companies across the region. They include online classified app Carousell, Jakarta-based health-care platform Alodokter and Appota Corp., a Vietnamese mobile platform with more than 30 million users.

Investors in Golden Gate Ventures’ previous funds include Temasek Holdings Pte, Facebook Inc. co-founder Eduardo Saverin and South Korea’s Hanwha Life Insurance Co. and Naver Corp.

The move underscores a flurry of fundraising activities amid an influx of money into the region as investors seek opportunities beyond the U.S. and China. Wavemaker Partners LLC, also an early-stage VC firm, in October closed a $66 million fund for Southeast Asia, while NSI Ventures is currently raising a $125 million second fund. Temasek’s Vertex Ventures also closed its third Southeast Asian fund in October at $210 million, a record in the region.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.