• About & Contact Us
  • SEO Community

Ulancer.com

    • Latest Stories

      What is new?

    • Meet the startups that pitched at EF’s 10th Demo Day in London

      September 27, 2018

    • Rally Rd., the app that lets you invest in classic cars, raises $7M Series A

      September 27, 2018

  • News
  • How to’s
  • Writing
  • Startups
  • Jobs
  • More
    • CMS Tools
    • APPS
    • Web Resources
      • Advertising
      • Firefox
      • Scripts
      • Tools

Vynn Capital plans maiden $40M startup fund for Southeast Asia

  • by Ulancer Contributor
  • In News
  • — 13 Feb, 2018


Southeast Asia has a new venture capital fund on the scene after Victor Chua, formerly a vice president at Gobi Ventures, launched Vynn Capital.

The Kuala Lumpur-headquartered venture is founded by Chua and Singaporean Darren Chau, previously with IE Singapore, and it is targeting a $40 million total close. Chua declined to say how far advanced the project is, but we did a little digging and industry sources suggest it has closed around $10 million thus far.

The fund is focused on startups in a range of industry verticals including travel, property, FMCG, logistics, property and “female-focused economics,” Chua told TechCrunch in an interview. On that last vertical, Chua cites Gobi’s successful exit from Malaysia-based skincare and cosmetics startup Hermo — the firm received $13 million for its 60 percent stake courtesy of a deal with public Japanese firm Istyle.

Chua said the deal represented a massive return on investment despite the fact that Hermo had never expanded beyond Malaysia. He believes that the opportunity for female-focused business will only increase in the region.

Geographically, the fund’s focus is on Southeast Asia, and in particular Thailand, Vietnam, and Myanmar. It will also seek deals in Singapore, Malaysia and Indonesia.

In particular, Chua said he will tap his network in Thailand and Vietnam — developed from his time at Gobi — while Chau has extensive experience working in Myanmar among other markets. Two other partners are in the process of joining the firm but cannot be named at this point, he added.

Vynn Capital plans to begin investments by the end of February with a primary target of seed and pre-Series A deals. Chua said it would reserve significant funds for follow-on deals that would take it into Series A investments and potentially belong. All told, the firm is looking at making around 15-20 deals with its inaugural fund.

Chua declined to give specific LP information, but he said the firm is backed by “traditional families keen get into the new era of business where technology plays a huge role.”

Three publicly-announced advisors to the fund include Malaysia-based advertising industry pioneer Tan Sri Vincent Lee, Indonesian business leader SD Darmono, Dr Mario Hardy, the Thailand-based CEO of the Pacific Asia Travel Association (PATA).

Chua, who spent three years with Gobi, is not the only Southeast Asia-based VC to switch out of a larger fund to establish his own.

Yinglan Tan, formerly with Sequoia, launched his $20 million Insignia Venture Partners firm last year. Other prominent firms covering the seed to Series A and beyond include Golden Gate Ventures, Monks Hill Ventures, Venturra Capital, NSI Ventures, and Jungle Ventures’ SeedPlus unit. Of course, there is also Gobi itself, which is heavily anchored in China but has a local presence in Southeast Asia.

Featured Image: KYTan/Shutterstock


News source

You might also like...

  • WACAO is an assistant that can summarize and translate your WhatsApp chats 3 Dec, 2017
  • The time I was turned away from China 27 Nov, 2017
  • Tesla’s electric Semi truck starts at $150,000, reservations now live 23 Nov, 2017
  • Amazon’s AWS business is reportedly pulling out of China 14 Nov, 2017
  • Previous story This former Uber (and Lyft) exec just raised $15 million for his controversial e-scooter startup: Bird
  • Next story Frank and Oak picks up $16 million Series C
  • RSS
    Receive Freebies & Latest Posts Directly To Your Email - it's Free!

    • Recent Posts
    • Most Popular
    • Comments
    • 7hrCggmJ-AMMeet the startups that pitched at EF’s 10th Demo Day in LondonSeptember 27, 2018
    • oNo38LV2tQIRally Rd., the app that lets you invest in classic cars, raises $7M Series ASeptember 27, 2018
    • Nearby.gifBerkanan is a Bluetooth-powered group messaging appSeptember 27, 2018
    • 2122.pngVinay Gupta to talk about Mattereum at Disrupt BerlinSeptember 27, 2018
    • slider_wp_03Best collection of WordPress Slider PluginsJuly 5, 2010
    • Joomla template builderTop 8 Free Joomla Template GeneratorsJuly 19, 2011
    • 40+ Best WordPress Plugins for Comments40+ Best WordPress Plugins for CommentsJune 18, 2011
    • wptheme2A Collection of Free WordPress ThemesJuly 11, 2010
    • Bharat Sarkari Naukri on:Spotify acquires online music studio Soundtrap as it goes after creators
    • PMP on:Online learning platform Unacademy gets $21M Series C from Sequoia India, SAIF and Nexus
    • Predictive Eye on:Element.AI opens London outpost with focus on ‘AI for good’
    • SmartCursors on:4 Tips for Keeping Your Freelance Finances In Order
  • Staff Picks

    • slider_wp_03Best collection of WordPress Slider PluginsJuly 5, 2010
    • Joomla template builderTop 8 Free Joomla Template GeneratorsJuly 19, 2011
    • 40+ Best WordPress Plugins for Comments40+ Best WordPress Plugins for CommentsJune 18, 2011
  • Recent Posts

    • Meet the startups that pitched at EF’s 10th Demo Day in London
    • Rally Rd., the app that lets you invest in classic cars, raises $7M Series A
  • Search Our Blog

  • Ulancer is an insightful freelance blog and resource site. We provide intuitive articles that cover Photoshop tutorials, time-saving management tips covering a broad range of topics. We also have an active freelance community forum, there you can meet other freelancers that share your common interest, socialize and chat about freelance trending news as the occurred.

© Copyright 2013 Ulancer.