BEST DIGITAL NEWS START-UP, WAN-IFRA 2019 GOLD AWARD

Singapore's Golden Gate partners Hanwha to invest in South-east Asia startups

Singapore's Golden Gate partners Hanwha to invest in South-east Asia startups

2 -min read
Listen to this article
2 -min read
Listen to this article

[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