Vietnamese accelerator VIISA will invest $15,000 each across four startups from its third batch while Singapore-based Adventus Holdings has acquired a land plot in Danang area.
Accelerator VIISA to invest in third batch startups
Vietnam’s accelerator VIISA – a partnership between Dragon Capital, FPT Corporation and Hanwha Investment & Securities – has started investing $15,000 each across four startups from its Batch 3 program.
The accelerator launched its third Batch in November 2017 which attracted more than 100 applications, predominantly from Vietnam.
In this batch, VIISA is shifting its focus early-stage ideas to Vietnam-focused ones with good product-market fit, companies with proven traction and solid teams.
The teams will also get up to $200,000 from VIISA’s fundraising track, the programme said in a statement.
“We are excited to build on the success of our Acceleration portfolio in 2017 with our newly established Investment portfolio, including two companies from the Acceleration track: WisePass and WeFit,” said Mr. Tran Huu Duc, CEO of VIISA and Head of FPT Ventures.
The $6-million accelerator was introduced in September 2016.
Adventus Holdings acquires a land parcel in Danang
Singapore Catalist-listed Adventus Holdings has entered into a joint venture agreement with Vietnam’s Panthera Company and two of its shareholders to acquire a plot of land in Danang, the Business Times reported.
The joint venture vehicle, AP NHS, will develop a residential apartment on the 3,825 sq m plot. It was established through ADV unit which is a wholly-owned subsidiary of Adventus Investments (Vietnam) Pte Ltd.
ADV S3 has agreed to pay S$2.9 million ($2.2 million) for a 45 per cent stake in the joint venture.
Adventus Holdings Limited is an investment holding company that engages in property investment and development, hospitality, project management activities as well as commodities and mineral resources businesses within Asia.