Korean VC Nextrans joins investment round of Vietnamese enterprise SaaS firm Base

South Korean early-stage investor Nextrans has completed its investment in Vietnamese enterprise SaaS company Base.

Nextrans director Chris Chae confirmed the funding.

Nextrans has joined the $1.3-million round, which was co-led by Indonesian venture capital firm Alpha JWC in December 2018. Base had announced back then that BEENEXT was the other lead investor while early backers 500 Startups and Vietnam Innovative Startup Accelerator also participated in the funding.

Chae told DEALSTREETASIA that it was taking longer for the firm to complete administration approval from South Korea.

Founded in 2016, Base has developed more than 20 apps on its platform to help businesses streamline their activities, covering human resources, sales and marketing, finance, to operations and management.

Its customers include both big corporates and local banks and small and medium enterprises.

Jakarta-based Alpha JWC marked its Vietnam debut with the Base investment. Alpha JWC made this investment from its second $100-million second fund, that is near its final close.

For Nextrans, this deal marks its fifth announced investment in Vietnam, after EcoTruck, VLeisure, JamJa and Leflair.

In an interaction with DEALSTREETASIA last December, Chae said that in Southeast Asia, Nextrans was focused on investing in Vietnam. Nextrans has invested in a total of 32 companies in South Korea, the US and Vietnam.

Chae said the firm had set aside a corpus of $350 million for its South Korean and Vietnamese portfolio. He acknowledged Nextrans’ main role in investing in the Southeast Asian country was to help bridge the startups to the next rounds of funding from other investors.

Funds following Nextrans include AME Ventures, BonAngels, KB Investments, Caldera Pacific, Access Ventures and FuturePlay, who have invested $23 million follow-on funding into its Vietnam-based startups.

Also read:

Indonesia’s Alpha JWC makes maiden Vietnam investment in Base.vn

S Korea’s Nextrans says has enabled Vietnam portfolio to raise $23m follow-on funding

Indonesia’s Alpha JWC nears final close of $100m second fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.