Wednesday, March 09, 2016

500 Startups launches a $10M micro fund to back Vietnamese startups

Reports that 500 Startups was raising a fund for the country surfaced in November, and its official launch now makes Vietnam the third fund in the region. The accelerator is no stranger to investing in Vietnam, having previously funded companies like the beauty startup Ipsy, social photography app creator Lightbox, social intelligence platform DataRank, language pronunciation training mobile app ELSA, ticketing platform TicketBox, and hyperlocal social networking app Tappy.
Through this micro fund, the firm will continue its effort to educate founders and business people in order to grow a supportive tech ecosystem in the country. Additionally, it will "raise awareness of interesting opportunities to later-stage investors and acquirers," while also working to "improve the legal ease of launching and investing in technology companies."

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