Facebook co-founder, Temasek place their bets on Asian tech startups

This new VC fund has raised a staggering $47.7m.

A report by Bloomberg revealed that Facebook co-founder Eduardo Saverin and Singapore state-owned investment company Temasek Holdings 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 $47.7m (US$35m) and expects to gather an additional $20.4m (US$15m), said Vinnie Lauria, managing partner of Singapore-based Golden Gate Ventures, in an interview on Tuesday.

Read the full report here.