By Jon Russell
There’s more money flowing into Southeast Asia’s tech startup scene after Singapore’s Golden Equator Capital and Seoul-based Korea Investment Partners announced plans for a collaborative $88 million (SG$120 million) fund for the region.
The two investment firms will act as joint partners for the vehicle, which is expected to hit a first close before September and a final close by the end of 2018. Already, they claim to have 65 percent of the target capital committed by LPs.
The firms are aiming for the Series A and B spaces with a typical check size of between $1.5 million and $3.7 million for what will be known as the GEC-KIP Fund.
The focus for deals is quite varied. A spokesperson told TechCrunch that it’ll cover sectors like proptech, fintech, health tech, new media and entertainment, e-commerce and edutech “as long as we can leverage the broad expertise of the different investment professionals we have within the combined GEC-KIP team.”
Southeast Asia often falls off the radar for investment in Asia, with the far larger countries of China and India typically getting the attention, but rising internet access among the region’s cumulative population of over 600 million signals growth potential. A recent report …read more
Source: Tech Crunch