According to a blog post, 500 Startups, the global early stage venture capital firm, closed a $14m fund dedicated to investing in Vietnam-based startups.
The close was 40% over its $10M target. LPs include GS Shop, Humax, NCORE, and numerous other investors in Asia, the US, and Europe.
Led by Binh Tran and Eddie Thai, the Vietnam-focused fund has already invested almost $3M in 36 companies serving the Vietnam market and/or leveraging Vietnamese talent. The companies have been diverse, ranging from ecommerce and edtech to fintech and blockchain.
The fund will now invest in other 64 startups writing bigger checks, from $50K-$100K to $100K and potentially up to $250K, increase team capacity to support portfolio companies hiring 2-4 more people in the coming months.