Singapore's Golden Gate partners Hanwha to invest in South-east Asia startups
[SINGAPORE] Golden Gate Ventures, a Singapore-based venture capital firm, said on Tuesday it has partnered South Korea's Hanwha Asset Management to invest together in South-east Asian startups in areas such as marketplaces and financial inclusion technologies.
The firms are seeking to raise about US$200 million for their fund, according to a source familiar with the matter.
Golden Gate and Hanwha will invest in startups at the "series B" stage, the venture firm said in a statement. The region's series B deal sizes typically range from US$15 million to US$30 million.
Funding by venture capital firms in South-east Asian startups had risen to a record as of the first eight months of last year, surpassing the total investments made in 2017.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
A cheat sheet of startup and tech M&As in South-east Asia
Zilingo ex-CEO’s criminal complaint is retaliation against whistleblowers: source
Gojek and ComfortDelGro Taxi to send untaken rides to each other’s platforms
SG fintech firm Bambu shuts down after missing profit targets, says founder
Telemedicine platforms evolve beyond virtual consultations
Funding concentration seen in emerging tech startups: SGInnovate report