Southeast Asia-focused early-stage venture capital firm Golden Gate Ventures has reached a first close for Golden Gate Ventures Fund II with US$35 million in capital commitments. Investors in the first close included Singaporean sovereign wealth fund Temasek, angel investor Eduardo Saverin, European multi-family office Monitor Capital Partners, Singapore’s National Research Foundation, NAVER (the parent company of LINE messenger) and venture capital firm Far East Ventures. The fund, which has a US$50 million target, will invest in tech startups in Southeast Asia.