Expara Ventures—a venture capital firm focused on interactive and digital media start-ups in Singapore, Malaysia and Thailand—has reached a first close for its second vehicle, Regional Early Stage Fund, with SGD5 million (approximately US$3.7 million) in capital commitments. The fund, which has a target of SGD30 million (approximately US$22 million), will invest up to SGD500,000 (approximately US$370,000) per transaction in seed and Series A funding rounds.