Top Southeast Asia VCs Golden Gate Ventures and JFDI.Asia have announced a new strategic alliance that will focus on supporting early-stage digital startups as they transition from concept to substantial pre-Series A funding.
The program will include intensive mentoring from both early-stage funding specialists to help companies gain market traction.
Golden Gate Ventures has offices in Singapore and San Francisco. It operates a seed investment program for digital start-up companies that have already launched a product and achieved market traction. Based in Singapore, JFDI.Asia’s accelerator “bootcamp” program takes teams of entrepreneurs from idea to investment in 100 days.
Golden Gate Ventures co-founders Vinnie Lauria, Jeff Paine and Paul Bragiel have joined JFDI.Asia’s bootcamp as mentors. Startups they nominate and which show sufficient traction through the bootcamp will be fast-tracked to additional funding of up to $600,000.
Lauria said in a joint statement that “the next billion people are coming online in our region. It’s a huge opportunity and an equally huge pool of talent in the region is set to make the most of it.”
Hugh Mason, co-founder and CEO at JFDI.Asia, said that he hopes the partnership with Golden Gate Ventures will be “the first of several alliances with key partners across the region who share our ambition to support the coming generation of digital success stories across Asia, for Asia.”
Golden Gate Ventures will continue to independently fund startups that have already launched and have shown traction. Both Golden Gate Ventures and JFDI.Asia, however, plan to draw their pool of pre-launch companies, to find promising candidates for the new bootcamp program.
Golden Gate Ventures operates two tiers of investment. Tier 1 is an accelerator program where founders will work directly alongside a handful of other startups and two full-time mentors to launch a product and get it to market. Tier 2 is a seed investment program for startups that already have a launched product and market traction. Both tiers will have access to regional and international mentors, invitations to networking events across the region, and access to an active...
JFDI.Asia is a Singapore-based seed accelerator modelled on TechStars that has 60% success taking start-up businesses from idea to $600k seed investment in 100 days. JFDI.Asia’s focus is on mobile and digital products and services made in Asia, for Asia. Its customers are business start-up teams, early stage business investor/acquirers, and organizations that seek to inspire innovation and entrepreneurship in their workforce.
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