Singapore-based Insignia Venture Partners will be investing at least $50,000 in each graduated startup from Vietnam’s Topica Founder Institute (TFI) accelerator programme, according to an announcement on Wednesday.
This is the first collaboration of its kind in Vietnam, TFI said.
“Vietnam is an energetic and potential startup market. If proper investment is available, great Vietnamese startups can emerge. Insignia Ventures Partners is showing great interest and desire to contribute for this development,” said Yinglan Tan, managing partner of Insignia Ventures Partners.
Insignia’s $150-million fund has invested in Logivan, an alumnus of TFI. Its other portfolio company from Vietnam is real estate portal Propzy, Tan revealed during the Vietnam Techfest event in November 2018.
TFI said, one third of the companies that received seed and Series A investments in 2016 were its incubatees. To date, more than 60 startups have graduated from the programme. A number of them have raised over $30 million in venture capital funding.
“This agreement between TFI and Insignia Ventures Partners marks a great milestone in validating our contributions to the Vietnam startup ecosystem over the years, and hopefully will propel it to a new height,” commented Tran Manh Cong, co-director of TFI.