Angela Teng · · 1 min readSingapore’s Golden Gate Ventures unveils $10m crypto fund
Founding partner of LuneX Ventures, Kenrick Drijkoningen / Photo credit: LuneX Ventures
Singapore-based Golden Gate Ventures is setting up a US$10 million fund to invest in blockchain and cryptocurrency startups. It claims to be the first traditional VC in Southeast Asia to launch such a fund.
Called LuneX Ventures, the fund will be a partnership between Golden Gate and its former head of growth, Kenrick Drijkoningen, who will take on the role of founding partner.
The fund will look to “invest exclusively in high-growth blockchain companies and cryptocurrency assets” worldwide that are “building out services to grow the new crypto ecosystem.”
It will also watch out for companies and entrepreneurs who can “bring the industry to the next level.”
“Qualities favored include scalable infrastructure and interoperability, along with practical solutions to issues such as custody and security, and institutional services that will drive the next wave of adoption,” Drijkoningen said.
With a focus on series A companies, Golden Gate has made over 40 investments to date, and its portfolio includes mobile classifieds service Carousell and payment gateway Omise. Just this month, it hit the first close of a planned new US$100 million fund.
Editing by Judith Balea and Eileen C. Ang
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