Singapore-based FEBE Ventures (“For Entrepreneurs, By Entrepreneurs”) has announced a USD 25 million early-stage fund focusing on investing in Vietnam and cross-border startups.
The Vietnamese ecosystem has been widely seen as one of the hottest destinations for tech startups and investors, driven by an emerging middle class, robust digital economy growth, and strong entrepreneurial culture. According to the latest Google-Temasek-Bain report, Vietnam’s digital economy is expected to top USD 43 billion by 2025.
Funding has also been pouring in the country, with several record amount to companies such as Sendo (e-commerce), VNPAY (payment) and Scommerce (logistics). The country’s aggregate funding amount is predicted to top USD 800 million by the end of 2019, according to a report by Singapore-based Cento Ventures and ESP Capital.
“We believe that Vietnam is a great place to invest in outstanding founders at the beginning of their startup journey and to support them to become regional champions,” said Eric Merlin, co-founder of FEBE Ventures.
Founded earlier this year, the early-stage VC is looking to support those who want to become regional leaders, in particular, Southeast Asian startups that want to enter the Vietnamese market, and local founders who want to expand regionally.
FEBE Ventures seeks to support founders with fast investment process, fair terms, operational support, and efficient governance. Its focus is early stages but the firm said it can also potentially invest in pre-series A and series A deals.
With the launching of this fund, FEBE Ventures made its first investment in dental startup Zenyum’s Series A round, alongside Sequoia Capital and other VCs, as Zenyum is looking to expand to Vietnam.