Newly found VC firm Vynn Capital plans SEA-focused $40m debut fund

National flags and the Association of South East Asian Nations (ASEAN) logo on display ahead of the 27th ASEAN summit in Kuala Lumpur, Malaysia, November 18, 2015. REUTERS/Olivia Harris

Vynn Capital, a new Southeast Asia-focused venture capital firm founded by former Gobi executive Victor Chua and Singapore’s Darren Chua, is raising a $40-million debut fund that will start investing this quarter.

“Opportunities arise, sometimes, when you least expect. So we are very much on our toes in making sure we work with the right entrepreneurs,” Victor Chua told DEALSTREETASIA in an emailed response.

The Kuala Lumpur-headquartered VC firm, which will target seed and pre-Series A deals to start with, is looking to invest in about 15-20 deals, per Tech Crunch that first reported the development.

“We are focusing on seed to A. Maximum ticket size is $1 million,” Victor noted.

Vynn has already mopped up $10 million for its maiden fund. It will target startups in travel, property, FMCG, logistics, property and “female-focused economics”. The fund will focus on countries such as Malaysia, Indonesia, Thailand, Vietnam and Singapore.

Victor, a former Vice President of Investments for Gobi Partners, managed two Southeast Asia focused early stage funds there. Among some of his notable investments include Carsome (Malaysia), Triip.me (Vietnam) and Travelio (Indonesia), according to the firm’s website.

Prior to that, he worked on direct and indirect investments at Malaysia’s largest venture capital fund, MAVCAP. He spent his formative years with Willis Towers Watson, advising corporate, pension and sovereign wealth funds on investment strategies.

Meanwhile, Darren also has numerous years of experience in strategic management and private equity investment, having completed stints with the Singapore government, technology startups and multinational firms.

Before starting Vynn Capital, he led investment and strategy projects across Southeast Asia and the Greater East Asia region. He has also worked on technology transfers across Asia and Europe. At IE Singapore, he guided more than 10 SMEs in corporate development and market expansion across Asia.

The firm has appointed Tan Sri Vincent Lee, a key executive of the Malaysian advertising industry, as one of its advisors, according to its website.

Other advisors are Setyono Djuandi Darmono, the founder and Chairman of industrial estate developer PT Jababeka Tbk, and Mario Hardy, CEO of the Pacific Asia Travel Association (PATA), a not-for-profit travel and tourism body in Asia-Pacific.

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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.

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.