Vietnam: Singapore’s Insignia Ventures invests $600k in truck platform LOGIVAN

LOGIVAN's Founder Linh Pham joined Uber Exchange startup competition and was the only team to win a trip to Silicon Valley

Singapore-based Insignia Ventures Partners, founded by former Sequoia Capital venture partner Yinglan Tan, has invested $600,000 in Vietnamese freight-with-trucker connecting platform LOGIVAN.

Linh Pham, Founder of LOGIVAN, confirmed the investment to DEALSTREETASIA in an interaction. She told the portal that the newly-raised capital will enable it to expand to Ho Chi Minh City and other major economic hubs in Vietnam, serving companies that have high transportation needs.

After noticing that 70 per cent trucks in Vietnam returned empty due to a fragmented logistics market, Pham founded LOGIVAN as a connecting platform for trucks, becoming the first company in Vietnam working to ‘Uberize’ the trucking industry with technology.

LOGIVAN offers a central platform that tracks the location of freight and truck. In doing so, it is able to optimize truck routes and reduce their empty load return rates.

In order to book a truck, clients access LOGIVAN’s marketplace on the web and indicate how many trucks they require and what kind of cargo they need to be delivered.

Pham, a former Goldman Sachs technology analyst and Cambridge University graduate, earlier founded Snappetite, a platform for deals before launching LOGIVAN.

According to the World Bank’s ranking, Vietnam is 64th out of 160 countries in the world and 4th in ASEAN after Singapore, Malaysia and Thailand in logistics development.

Vietnam’s logistics costs remain high, equivalent to over 20 per cent of GDP while these costs account for between 9 per cent and 14 per cent of GDP in developed countries, according to Vietnam Logistics Association.

Insignia Ventures Partners is a venture capital firm specializing in startup investments. In February, it closed its maiden fund at $120 million. The milestone came less than a year after Tan left Sequoia’s office in Singapore, and also marks the largest ever maiden vehicle by a venture capital firm in this region.

Also Read:

Exclusive: Insignia Ventures Partners closes debut fund at $120m

Singapore: Insignia Ventures Partners raises $25m for debut 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. 
  • 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.