Singapore’s Golden Gate Ventures raises $100 mln for its third fund

Golden Gate Ventures, a Singaporean early-stage venture capital firm, has announced that it was oversubscribed on its third fund.

The $100 million Golden Gate Ventures Fund III will focus on consumer internet trends in the region. The fund is anchored by existing investors such as Singaporean investment company Temasek Holdings, Hanwha, Naver, and EE Capital.

Additionally, the fund also had new investors such as Japanese entrepreneur and investor Taizo Son's Mistletoe, Mitsui Fudosan, IDO Investments, CTBC Group, Korea Venture Investment Corporation, and Ion Pacific.

Golden Gate Ventures said that interest in investing through the fund comes at a time when there is a pronounced rise in South-east Asia in consumer spending and mobile Internet adoption, a flood of foreign capital planned for investment opportunities, and the rise of serial entrepreneurs and skilled tech engineers.