500 Startups to fund more Vietnamese tech startups

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Da Nang’s iconic lit bridges at night. Vietnam sees more startup activity lately © Arno Maierbrugger

Silicon Valley venture capital firm 500 Startups has raised $14.1 million for the new seed-stage fund of its Vietnamese unit, 40 per cent over its $10 million target, it announced in a blog post November 20.

The Ho Chi Minh City-based micro-fund 500 Startups Vietnam is focusing on Vietnam-headquartered startups or companies catering to the Vietnamese market. The fund launched in March 2016 with a $10 million target to capitalise on a new cohort of Internet-era startups.

Plans are to back up to 64 startups with this fund, with check sizes that will mostly be in the $100,000 range but can go up to $250,000. Investors in this fund include South Korea’s GS Home Shopping, Humax Holdings and NCore Ventures, acknowledging the fact that Vietnam is seeing more startup funding activity lately.

Several new funds have launched recently to invest in more Vietnam-connected startups, including ESP Capital, VinaCapital Ventures, Startup Viet Partners and Zone Startups Vietnam.

500 Startups Vietnam has so far invested a total of $3 million in 36 Vietnam-based startups to date. It invests across industries, including e-commerce, edtech and blockchain.

Growth of Vietnam’s digital economy is showing no signs of slowing. It is expected to triple in size, accumulating a value of some $33 billion by 2025, according to Google’s third “e-Conomy SEA” report. Over last year, Vietnam’s e-commerce market has doubled and the digital advertising, gaming industry, online media and online travel market have also seen significant development.

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Reading Time: 1 minute

Da Nang’s iconic lit bridges at night. Vietnam sees more startup activity lately © Arno Maierbrugger

Silicon Valley venture capital firm 500 Startups has raised $14.1 million for the new seed-stage fund of its Vietnamese unit, 40 per cent over its $10 million target, it announced in a blog post November 20.

Reading Time: 1 minute

Da Nang’s iconic lit bridges at night. Vietnam sees more startup activity lately © Arno Maierbrugger

Silicon Valley venture capital firm 500 Startups has raised $14.1 million for the new seed-stage fund of its Vietnamese unit, 40 per cent over its $10 million target, it announced in a blog post November 20.

The Ho Chi Minh City-based micro-fund 500 Startups Vietnam is focusing on Vietnam-headquartered startups or companies catering to the Vietnamese market. The fund launched in March 2016 with a $10 million target to capitalise on a new cohort of Internet-era startups.

Plans are to back up to 64 startups with this fund, with check sizes that will mostly be in the $100,000 range but can go up to $250,000. Investors in this fund include South Korea’s GS Home Shopping, Humax Holdings and NCore Ventures, acknowledging the fact that Vietnam is seeing more startup funding activity lately.

Several new funds have launched recently to invest in more Vietnam-connected startups, including ESP Capital, VinaCapital Ventures, Startup Viet Partners and Zone Startups Vietnam.

500 Startups Vietnam has so far invested a total of $3 million in 36 Vietnam-based startups to date. It invests across industries, including e-commerce, edtech and blockchain.

Growth of Vietnam’s digital economy is showing no signs of slowing. It is expected to triple in size, accumulating a value of some $33 billion by 2025, according to Google’s third “e-Conomy SEA” report. Over last year, Vietnam’s e-commerce market has doubled and the digital advertising, gaming industry, online media and online travel market have also seen significant development.

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