VinaCapital Ventures founding partner’s VC firm hits first close of inaugural $50m fund

Touchstone Partners, an early-stage VC firm that invests in Vietnamese tech startups, announced the launch its inaugural US$50 million fund.

More details

• Stage: First close
• Amount raised: Well in excess of half the target amount, as per a statement by the company
• Investors: Pavilion Capital, Vulcan Capital, and several institutional investors and family offices
• Target amount: US$50 million
• Ticket size of funding: Not disclosed
• Sectors: Fintech, real estate, healthcare, edtech, and technology that enhances efficiency in manufacturing and agriculture

More company updates

• Touchstone is founded by Khanh Tran, former founding partner of VinaCapital Ventures and head of technology investment at VinaCapital Group, and serial entrepreneur Tu Ngo, co-founder and chairwoman of edtech platform Yola.
• Tran also had earlier stints at Goldman Sachs and Grab. Meanwhile, Ngo, a Stanford alumna, helped found ELSA, an edtech startup that has built an AI app for teaching proper vocabulary and pronunciation.
• The Touchstone team will include experienced executives such as Nam Le, who has had previous experience at McKinsey, Morgan Stanley, Galaxy Studio, and Yola; and Bobby Liu, founder of HubIT and Founders Institute Vietnam.
• VinaCapital Ventures, which was launched in 2018, is a US$100 million Vietnam-focused VC firm that invests in tech startups.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.