SINGAPORE (Mar 12): Singapore’s Golden Gate Ventures is raising a US$100 million ($131.5 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.

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