Ascend Vietnam Ventures raises above $50 million target for early-stage investments

Oluwajuwonlo Afolabi -

Vietnamese venture capital firm, Ascend Vietnam Ventures has announced that it has exceeded its $50 million fund target for early-stage investments in impact-making tech startups.

  • The fund will be deployed to startups in Vietnam with up $2 million in seed funding in 25 startups and up to $5 million in follow-on checks.
  • AVV was co-founded by Binh Tran and Eddie Thai and has been investing in Vietnam since 2015, with a portfolio including Axie Infinity, the unicorn NFT gaming, ELSA, AI-driven edtech, and Trusting Social, focusing on fintech.  
  • The new fund will target startups across edtech, financial inclusion, and the future of work among others.