Vietnam's FPT launches venture capital arm
Vietnamese tech group FPT Corporation has launched FPT Ventures, its new venture capital and accelerator unit, which will manage a $3 million fund targeting seed and Series A stage investments.
The fund will target local start-ups with valuations below $1 million and put in a minimum of $50,000 per transaction. In addition to providing capital, FPT Venture will leverage its parent company's exisiting business to provide resources and technical expertise.
FPT also said it was looking to invest alongside, and partner with, other accelerators and seed stage investors in the region such as 500 Startups, Founder Institute, Malaysia's Magic, and Singapore's JFDI.
FPT has already made several early-stage tech investments in the country. Start-ups is it has previously backed include e-commerce marketplace Sendo.vn, big data platform Ants.vn, offline services platform Veic Nha, and music portal Nhasco.net.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.