Singapore venture capital firm eyes Vietnamese startups
Singapore-based venture capital firm Cocoon Capital has launched a new 20 million USD fund targeting seed-stage startups in emerging economies such as Vietnam, Myanmar, the Philippines and Indonesia.
Hanoi (VNA) – Singapore-basedventure capital firm Cocoon Capital has launched a new 20 million USD fundtargeting seed-stage startups in emerging economies such as Vietnam, Myanmar,the Philippines and Indonesia.
The fund aims to invest in 25-30 trade deals inthese Southeast Asian markets, with the biggest amounting to 727,000 USD.
By limiting the number of investments each year,the firm can ensure it supports multiple young companies.
The fund, which follows the firm’s first7-million-USD fund launched in 2016, will focus on deep tech, fintech andmedtech.
Since 1996,Singapore has always been one of the biggest trade partners of Vietnam. Atpresent, it is the second largest trade partner of Vietnam in ASEAN and eighthin the world. Two-way trade hit 8.3 billion USD in 2017, a year-on-year rise of8.9 percent.
Singapore’s direct investment in Vietnam has continuouslyincreased in recent years. It is now the biggest investor of Vietnam in ASEAN,and third globally.-VNA
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Illustrative image (Photo VNA)
