Terence Lee · · 1 min read500 Startups Vietnam raises $14m in oversubscribed round
Venture capital firm 500 Startups Vietnam has raised US$14.1 million for its new seed-stage fund, it announced in a blog post today. That’s 40 percent over its US$10 million target.
The firm plans to back up to 64 startups with this fund, with check sizes that will mostly be in the US$100,000 range but going up to US$250,000.
Investors in this fund include GS Shop, Humax, and NCore. Vietnam is seeing more startup funding activity lately, writes 500 Startups Vietnam partner Eddie Thai.
“Startup funding in Vietnam has increased from 29 deals in 2014 to 92 deals in 2017. 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,” he notes.
Since its inception in March 2016, the firm has invested US$3 million in 26 companies.
Editing by Eileen C. Ang
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