Facebook co-founder, Temasek invest in Asian tech startup fund

[CityFarmer]

Based on readings, it seems SEA is the region for tech start-ups? Facebook co-founder is doing it here, together with Temasek. Mr. Ren from YZJ is also doing it here. The future of tech start-up is here? or a comparable and viable location comparing with silicon valley?

Facebook co-founder, Temasek invest in Asian tech startup fund

SINGAPORE (July 29): Facebook Inc. co-founder Eduardo Saverin and Temasek Holdings Pte, Singapore’s state-owned investment company, are among the main investors in a new venture capital fund that will take stakes in technology companies in Southeast Asia.

The Golden Gate Ventures Fund II LP has already raised US$35 million ($44.7 million) and expects to gather an additional US$15 million, said Vinnie Lauria, managing partner of Singapore-based Golden Gate Ventures, in an interview on Tuesday.

“We took the step to bring in strong local partners for the fund,” Lauria said, while declining to comment on how much Temasek and Saverin, who lives in Singapore, are investing. The third major investor is Monitor Capital Partners, a family office based in Belgium, according to Lauria.
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http://www.theedgemarkets.com/sg/article...artup-fund

[arriyana]

Singapore is ranked top 10th best startup ecosystem in the world. It is growing fast but no where near to the powerhouses around the world, an even further cry from Silicon Valley.

One of the better indicators of the scene is the buyout size. Investors are lured in by big buyouts which in turn funds more start-ups that will grow into big companies. We have yet to see a billion dollar buyout in Singapore and when that happens, the scene will heat up. But looking at the size and value of the Asia-Pacific market, we have a long way to go.