Mr. Binh Tran and Mr. Eddie Thai have been investing together in Vietnam since 2015 and have backed home-grown international successes such as Axie Infinity (NFT gaming unicorn; later backed by a16z and Accel), ELSA (AI-driven edtech; later backed by Google’s AI-focused fund), and Trusting Social(financial inclusion fintech; later backed by Sequoia).

With AVV Alpha, the team has increased their investments in startups in Vietnam, seeding up to $2M into 25 startups by next year and following on with checks of up to $5M. 

From left to right, Mr. Binh Tran & Mr. Eddie Thai, co-founder of AVV fund

“The likes of Axie Infinity, ELSA, and Trusting Social are by no means isolated successes, Vietnam’s dynamism, accessibility, low cost of living, as well as abundant quality engineering talent attract many founders. On top of that, many tech solutions built here can address similar challenges and customer behaviors in other emerging markets worldwide. Vietnam will continue to be seen as one of the best places to build global or regional market-leading companies.” said Mr. Binh Tran.

Mr. Eddie Thai speaking at a growth event for founders

“We believe in the ability of all entrepreneurs in Vietnam to do great things, regardless of their backgrounds, and in our ability, opportunity, and obligation to help them do so,” Mr. Eddie Thai asserted.

AVV’s commitment to back diverse founders led to the development of its SHINE women founder initiatives, launched in partnership with the Australian Government’s Investing in women initiative.

Training for SHINE's female entrepreneurs

Since its inception in early 2021, SHINE has organized training, mentoring, and community-building programs for 60+ women entrepreneurs and executives, helping them advance their growth, people & leadership, and capital strategies as well as expand their support network.

AVV Alpha is backed by a mix of investors from Asia, Europe, and the U.S., including development finance institutions, funds of funds, corporate VCs, and high-net-worth individuals from leading local and regional companies.

With the new fund, AVV has been exploring a broad range of tech opportunities including those in financial inclusion, education, and future of work.

About Ascend Vietnam Ventures Ascend Vietnam Ventures (AVV)

AVV is a seed-stage venture capital firm located in Ho Chi Minh City. Our mission is to empower tech entrepreneurs in Vietnam to positively transform the lives of people everywhere.