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Money is being attracted to SEA startup scene

Inspired From Techcrunch  http://ift.tt/2xyt3Ea



Singapores YinglanTan –  former Sequoia venture partner and Lin-Hong Wong. (former  Singaporean sovereign fund Temasek and the Singapore Economic Development Board)has raised $25 million for its maiden fund called Insignia Venture Partners  and it made its first investment.

It is leading a $4 million investment in Indonesia-based co-working startup Ev Hive, a source close to negotiations told TechCrunch.

The $25 million fund plans to focus on the seed and Series A space in Southeast Asia, a segment that once was seen as a gap but now is becoming well filled with funds. Other VCs playing in the space include Golden Gate Ventures ($50 million), Jungle Ventures ($100 million), Venturra Capital ($150 million), and Monk’s Hill Ventures ($80 million.)

Sequoia is one of the few investment funds that operates in the Series A and Series B spaces in Southeast Asia. Despite that and growing interest in the region from major tech companies, with recent deals from Alibaba, TencentSoftBank and Expedia, it doesn’t have a dedicated fund in South East Asia , but its deals are covered by the Sequoia India fund. The current India fund of $850m is the firm’s fourth.

Earlier this summer, Sequoia secured $4 billion in fresh financing, including $2 billion for its growth funds, according to a U.S. filing. The firm decline to provide details on how the capital will be allocated, but a good bet is that a large chunk will be put to work in Asia. Indeed, according to report, $125 million of that fresh allocation was funneled into the current India fund.

Hopefully Australia will get a gurnsey!!!!

Posted on September 13, 2017

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