SEA Digest: ThinkZone Ventures, TNB Aura launch accelerator programme; SOSV backs 5 startups in latest cohort

SEA Digest: ThinkZone Ventures, TNB Aura launch accelerator programme; SOSV backs 5 startups in latest cohort

ThinkZone Ventures's team members

ThinkZone Ventures has launched the Global Minds Accelerator programme in partnership with TNB Aura Vietnam Scout, while SOSV’s new startup programme has unveiled five startups in the latest cohort. 

New programme to invest in 5-7 startups

Vietnamese venture capital firm ThinkZone Ventures has launched the Global Minds Accelerator programme in partnership with TNB Aura Vietnam Scout as a strategic investor, according to an announcement. 

Through this partnership, ThinkZone Ventures will provide startups with extensive local resources, while TNB Aura Vietnam Scout will support them via their expertise across Southeast Asia.  

The Global Minds Accelerator (GMA) programme invests in 5-7 tech startups per batch in the early go-to-market stage with the potential to expand globally in the future. GMA W22 will take place from November 2022 till March 2023.  

Startups will receive at least $125,000 from ThinkZone Ventures and TNB Aura Vietnam Scout, with the possibility of further investments depending on their business performance demonstrated throughout the programme.

ThinkZone Ventures focuses on pre-Seed to Series A tech startups with an investment size of up to $3 million per startup. To date, ThinkZone Ventures has invested in 15 startups, including leading brands such as Edupia (an e-learning platform), GIMO (a platform for instant and safe wage access for employees), and Fundiin (a BNPL platform for consumers).  

Orbit offers $150,000 to each startup

Orbit Startups, a new programme from venture firm SOSV, has unveiled five startups in the latest cohort and offered $150,000 for each participant, according to a report on TechInAsia.

The five startups include edtech startup NewCampus (Singapore), e-commerce marketplace Kreate (India), Web3 startup Nandi Labs (Nigeria), B2B marketplace PriyoShop (Bangladesh), and delivery services firm Fullfily (India).

Orbit encapsulates SOSV’s established MOX and Chinaccelerator programmes and reflects their shift in recent years to the geographies of Southeast and South Asia, the Middle-East, Africa, and Latin America.

In September, Orbit named the 10 startups chosen for its inaugural cohort. The startups have each received initial funding of about $180,000 together with an intensive programme that supports their growth across emerging and frontier markets.

SOSV is a US-based venture capital firm with $1.3 billion in assets under management.

Notable investments include VideoVerse, technology partner to the Olympics and the UK’s Premier League; fintech pioneer BitMEX; Phable, India’s largest chronic-disease management platform; ELSA Speak, Google Gradient’s first investment in Asia; MarketForce, Africa’s leading retail distribution system; and Dastgyr, Pakistan’s aspiring Alibaba Group.

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