Everything you need to know about AVV, Vietnam's first institutional seed fund. Whether you're a founder looking to raise your first round or an investor exploring Vietnam's startup ecosystem, find your answers here.
AVV invests at seed, from idea stage to early traction. We are usually the first institutional investor in a company.
Our first check is usually US$250,000 to US$2 million. For some companies we reserve follow-on capital of up to US$5 million as they grow. At the earliest stage we often invest through convertible notes or SAFEs, and later rounds are priced equity.
Use the form at avv.co/connect: your email, company name, website, a short description of what you're building, and your pitch deck (up to 10 MB). The team reviews every submission, so you don't need an introduction first. Because of the volume, we follow up when there's a fit.
It varies by company, but we try to decide quickly: once we decide not to invest, we aim to tell you within 48 hours. A yes takes longer, usually a first call, a partner meeting and diligence before the decision.
Our focus is founders building from or for Vietnam and Southeast Asia. Some portfolio companies are based elsewhere, such as Pulse Tech in Bangladesh, and many sell to customers around the world.
AVV doesn't limit itself to set sectors; we look at the founding team and the size of the problem first. The portfolio covers AI, fintech, edtech, SaaS, e-commerce enablement, healthtech, agritech, gaming and web3.
We typically lead the round. Depending on the size of the round, we may take a board seat.
The partners work with founders on product, go-to-market, hiring, culture and the next fundraise, and make introductions to co-investors and advisors in the US and Asia. AVV also runs events and workshops for portfolio founders, and the SHINE programme has supported women entrepreneurs across Vietnam.
Since 2015, AVV has backed more than 100 startups, which have raised over US$1.8 billion after our investment. Three of them became unicorns after we invested at seed: ApplyBoard, Sky Mavis and Turing. The portfolio has had 13 exits.
AVV was founded by Binh Tran and Eddie Thai, who are both General Partners. Binh was earlier co-founder and CTO of Klout, which was acquired in 2014. The other partners are Hau Ly, who focuses on founder support, and Adrian Latortue, who runs operations and finance.
AVV was founded in 2015 by Binh Tran and Eddie Thai, first as 500 Startups Vietnam. In 2020 the firm became AVV, and that first fund is now AVV Fund 1; AVV Fund 2 followed in 2021.
LPs receive quarterly, half-year and annual reports, and an annual meeting reviews performance. AVV also publishes an annual ESG and impact (ESGI) report and is a signatory to the UN Principles for Responsible Investment.
If you're a founder building the next great technology company from Vietnam or Southeast Asia, we'd love to hear from you.
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