The venture capital firm Golden Gate Ventures (singapore-based) will launch a $10 million fund to invest in cryptocurrency and blockchain technology startups, Reuters reported on Friday August 10.

“Targeted size of the fund is US$10 million with a final close to happen within this year. We have a strong pipeline of five to 10 investments ready to go and made our first commitment to Singapore-based Sparrow Exchange already,” Drijkoningen explained to e27.

Golden Gate Ventures (GGV) is one of the major venture capital firm in Southeast Asia that invest in early-stage VC firms. They announced that they will invest through a fund called LuneX Ventures into blockchain companies. GGV raises money from high-net worth individuals and family offices.

LuneX Ventures is ready to invest in five to ten blockchain start-ups this year.