Singapore's Golden Gate is said raising US$100 mil VC fund

Singapore's Golden Gate is said raising US$100 mil VC fund

By: 
Bloomberg
12/03/18, 11:21 am

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.

Investors in Golden Gate Ventures’ previous funds include Temasek Holdings, Facebook Inc. co-founder Eduardo Saverin and South Korea’s Hanwha Life Insurance Co. and Naver Corp.

The move underscores a flurry of fundraising activities amid an influx of money into the region as investors seek opportunities beyond the US and China. Wavemaker Partners LLC, also an early-stage VC firm, in October closed a US$66 million fund for Southeast Asia, while NSI Ventures is currently raising a US$125 million second fund. Temasek’s Vertex Ventures also closed its third Southeast Asian fund in October at US$210 million, a record in the region.

Singapore authorities block New Noble listing

SINGAPORE (Dec 10): The Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have barred Noble Group from transferring its listing status to New Noble as part of its restructuring process. This comes after a “careful review” of the findings to-date from the ongoing investigations into the commodities trader and its Singapore-incorporated subsidiary Noble Resources International (NRI). According to a joint statement by MAS, the Commercial Affairs Department (CAD) and SGX RegCo, the decision to block the New Noble listing arose from doubts about New Noble’....
Read More >>

Balancing profit and motive

SINGAPORE (Dec 10): On Dec 5, the UK government published a trove of internal Facebook emails and other documents that suggested the social media platform sought to trade users’ data with advertisers, or wield it for strategic advantage with third-party applications. Facebook has been under increasing scrutiny amid privacy concerns, and the backlash to the news was to be expected. In its defence, Facebook said it was seeking a way to ensure the sustainability of its business. As a business, Facebook should indeed be looking for the best way to monetise or leverage its assets — users’ ....
Read More >>

Singtel's Dash expands payment capabilities to international frontiers with Visa & Apple Pay

SINGAPORE (Dec 10): Singtel’s all-in-one mobile payments app, Dash, has expanded its payment capabilities to include international mobile payments via Apple Pay. This means Apple device users may also use Dash as a payment method on Apple Pay, making it the first non-bank mobile wallet in Singapore on Apple’s secure and private payments system. Main image, photo courtesy of Singtel: Using Dash for Visa Contactless Payments Further, Dash customers are now able to use their Visa Virtual Account on the Dash app at online retailers worldwide and merchant points that accept Visa conta....
Read More >>
Active management can deliver attractive returns amid tightening liquidity, says Charles Schwab

SINGAPORE (Dec 4): In the last few years, passive fund management has become increasingly popular am