Eduardo Savarin, one of the pricipal investor of Golden Gate Venture (Photo: Getty Images) The Singapore-based Golden Gate Ventures has recently announced its decision to invest 50 million USD in Southeast Asia.
The Today Singapore cited Vinnie Lauria, Managing Partner of the company, as saying it has mobilised an initial 35 million USD of the fund from a range of prominent investors, including Singaporean government fund Temasek Holdings and Facebook co-founder Eduardo Saverin.
The overall investment will be distributed to acquiring shares in tech companies across the region.
Lauria said part of the attraction for Temasek is the access the new fund will give to a range of early-stage investments which will help it assess companies for further potential investments.
Founded in 2012, the Golden Gate Ventures has thus far sealed deals with 20 Asian companies, such as Redmart, an online grocer operating in Singapore, and Carousell, a social commerce start-up.
The firm foresees a rise in venture-capital business in Southeast Asia and estimates that 85 million USD will be poured into the region within 2015, similar to injections seen in India in 2010 and China in 2005.-VNA
