Vietnam Silicon Valley (VSV) Capital announced today it has invested up to US$50,000 each in eight startups through VSV Capital Accelerator Batch 7. They range from logistics, education to recruitment and sports.
The eight companies are:
- Song Nhat Tinh: a technology platform providing digitised solutions for Vietnam’s logistics
- ThingsTwin: a smart home monitoring app integrated with Samsung SmartThings
- uCall: an AI-applied callbot platform for businesses in telemarketing and customer services
- Nerman: a health and beauty care ecosystem for men with AI-integrated app
- MyLeague.vn: a planning and managing software for sports tournaments
- MarketingWorks: a leading recruitment platform for marketing jobs
- Future English: an effective English learning application using videos and podcasts
- Sunbot: a STEAM and robotics early education programme for pre-school.
Apart from an injection of the seed funding in cash, VSV Capital will provide a four-month intensive acceleration bootcamp as well as assistance packages from Amazon Web Services and Freshworks. In addition, VSV Capital will continue to accompany the startups for six to eight years in order to boost their business indicators, optimise costs and operation systems, and provide consulting in fundraising strategies.
“Although COVID-19 brings a lot of difficulties for startups and limitations for venture capital firms in evaluating and selecting startups to invest, this is also an opportunity for us to evaluate the endurance of the founding team and the agility in pivoting their business model,” said Tra Hoang, managing director at VSV Capital. “We expect that with the financial and non-financial resources of the programme, startups will have breakthrough growth and improve key business indicators despite the impacts of the Covid-19 pandemic.”
Also read: Loship rakes in US$12M to grow its B2B delivery service for small stores, F&Bs in Vietnam
VSV Capital’s programme aims to help startups verify products and markets, optimise the business models and boost their business metrics by working directly with local and global experts from the VC firm on many common topics when operating businesses. Selected startups will have the opportunity to join the demo day on the final week of the bootcamp to prove their potential to domestic and international investors.
Founded in 2014 by veteran women entrepreneur Le Anh Thach, VSV Capital is Vietnam’s first accelerator and early-stage venture capital firm. The firm has invested in over 80 pre-seed and seed-stage companies with a few exits such as Base.vn, which was acquired by Vietnam’s IT giant FPT this May.
The VC firm claimed that nearly 70 per cent of its portfolio succeeded with the next funding rounds, such as Vulcan, Loship, Loop POS, Ship60, and Hachi. Loship recently raised US$12 million in a pre-Series C round co-led by Ant Group-backed BAce Capital and the direct investment unit of Sun Hung Kai & Co.
Besides accelerator programmes, VSV Capital also support follow-on deals and deals pipeline coming from its global VC network, targeting pre-Series A to Series B investments.
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Image credit: VSV Capital
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