Nextrans Expands Support For Local Tech Startups With New $50 Million Vietnam

South Korean venture capital firm Nextrans is gearing up to launch a $50-million fund for Vietnamese tech startups in November.

Nextrans has been very active in supporting early-stage startups in Vietnam since its entry in 2015. Nextrans has supported more than 100 startups in South Korea, Vietnam, and the US since 2004. It started investing in Vietnam startups in 2015 and has so far invested in 32 tech startups here, including TopCV, BuyMed, Infina, Vuihoc, Tiki, and Gitiho.

The new Vietnam-focused fund signifies the firm’s deeper interest in the country’s fast-growing tech startup ecosystem. Nextran’s general manager Le Han Tue Lam told DealStreetAsia that the firm targets to achieve the first close in December, with cheque sizes up to $3 million.

Aside from Vietnam, Nextrans also invests in about 70 other startups from South Korea and the US.

“In our upcoming fund, we will continue investing in early-stage startups in not only emerging sectors such as wealthtech, proptech, SaaS, EV, and fintech but also seeking opportunities in sustainable growth areas such as EV, food waste, and food safety solutions,” the firm wrote on its LinkedIn page.

Nextrans, a key player in Vietnam’s venture capital landscape, has invested in 32 local startups, including Base.vn, Cooky.vn and Azota. The firm is looking for tech-driven companies that can fuel growth across vital sectors like consumer goods, education, finance, healthcare, and agriculture.

Source: vietcetera