Mubasher: Golden Gate Ventures, a Singapore-based venture capital (VC) fund, has established its first MENA office in Saudi Arabia, according to a press release.

This step aims to boost ties between Singapore and MENA in addition to fostering the development of the startup ecosystem across the region.

Founded in 2011, Golden Gate Ventures injected investments in over 90 companies across three continents. It has investments with nine unicorns and two initial public offerings (IPOs) across its portfolio.

In line with the company’s objectives to build its MENA foundation, the VC firm backed entrepreneurship development in terms of building social, human, and financial capital access.

Vinnie Lauria, Founding Partner at Golden Gate Ventures, commented: "The opening of our first MENA office reflects our First-In strategy of being first to identify new opportunities in new startups, sectors, and regions.”

Hussain Abdulla, Senior Advisor, indicated: "Having Golden Gate Ventures in the GGC region with a strong presence will help develop the VC ecosystem by attracting talents and capital.”

“Collaborating with universities and providing support to local talents in different markets will be a value-add to these markets,” Abdulla continued.