Golden Gate Ventures to launch $40m fund targeting Series A funding gap


singapore2_sqSingapore-based venture capital firm Golden Gate Ventures is reportedly preparing to raise its second fund to focus on Series A rounds in Southeast Asian tech businesses.

The $40m fund is expected to launch within 12 months, said the Asian Venture Capital Journal, citing a source with knowledge of the situation.

The firm’s first fund, which closed at $10m last year, has invested in three e-commerce companies, TradeGecko, RedMart and Coda Payments.

Last year Golden Gate Founder told the publication that there was a deficit in Series A funding in Asian tech startups.

He said, “Asia is a maturing market so a lot of the money available has been at the seed stage.

“Once portfolio companies need to do a Series A round there aren’t a lot of people to turn to.”

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