East Ventures, one of Indonesia’s most active venture capital firms, today announced that it has closed its fifth fund, and the vehicle’s partners – Willson Cuaca, Batara Eto, and Taiga Matsuyama – said they plan to use ‘deploy the capital to further their thematic investment thesis as the startup ecosystem… Read more »
By Nguyen Thi Bich Ngoc
The fund is founded by two serial entrepreneurs and angel investors.
Ho Chi Minh City, the southern metropolis of Vietnam, will launch a VND1 trillion ($45 million) support package for young businesses, including tech startups, the city’s department of science and technology reportedly announced at a recent meeting.
Venturecraft, a Singapore-based private investment company founded in 2015, has launched a S$50 million ($36.8 million) fund which is largely dedicated for growth stage businesses in the medtech industry.
The financing, completed on July 14, values Hellomam at $4 million, according to NDH.vn, a local newswire owned by Nguyen Duy Hung, chairman of Saigon Securities Inc and SSIAM.
The Vietnamese exchange might be based in Ho Chi Minh City, which endeavours to become the startup hub of the country and the “Silicon Valley of Southeast Asia”. The southern city currently operates a startup investment fund with the initial size of VND30 billion ($1.34 million), which will be boosted to VND100 billion next year.