Singapore-Korea tie-up launches venture fund

Tokopedia_towerSingapore-based Golden Equator Capital has launched a venture capital fund in partnership with Korea Investment Partners. With a target size of 120 million Singaporean dollars ($88 million), the fund will aim to invest in Series A and Series B high-growth technology companies in Southeast Asia. The average investment will be between 2-5 million Singaporean dollars. “The fund will be a positive development for the bilateral relationships between Korea and Singapore as well as the venture capital investment landscape,” said Baek Yer Hun, chief executive of Korea Investment Partners. Singapore is one of several states in Asia that hopes to boost its technology sector by supporting start-up businesses. A statement by Golden Equator Capital says the fund has raised 65% of its target capital. ©2018 funds global asia

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