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 is a seed-stage venture capital firm. We are typically the first institutional investor in a startup, investing from idea stage through early traction. As Vietnam's first institutional seed fund, we have been making early-stage investments since 2015 and have backed over 100 startups at the earliest stages of their journey. Our team has extensive experience evaluating pre-revenue and early-revenue companies, and we pride ourselves on being among the first believers in exceptional founding teams.
AVV invests across a broad range of technology sectors with a focus on startups building from or for Vietnam and Southeast Asia. Our portfolio of 100+ companies spans artificial intelligence (AI), fintech and financial inclusion, edtech, SaaS and enterprise software, e-commerce enablement, healthtech, agritech, gaming, and web3. Notable investments include ELSA (AI-driven edtech, backed by Google's Gradient Ventures), Trusting Social (fintech, backed by Sequoia), Sky Mavis (gaming/web3, backed by a16z), and Turing (AI infrastructure unicorn). We are sector-agnostic at heart and prioritize exceptional founders solving large meaningful problems.
AVV typically invests between $250,000 and $2,000,000 in initial seed rounds. We also reserve capital for follow-on investments of up to $5 million in our highest-conviction portfolio companies as they scale. We structure investments to be founder-friendly, often using convertible notes or SAFEs for the earliest stages, and priced equity rounds for companies with more traction.
Since 2015, AVV's founders and partners have backed over 100 startups that have collectively raised more than $1.8 billion in follow-on funding. Our portfolio includes 3 unicorns from seed: ApplyBoard (edtech), Sky Mavis / Axie Infinity (gaming/web3), and Turing (AI infrastructure). Our portfolio companies have attracted follow-on investment from world-class investors including a16z, Sequoia Capital, Google's Gradient Ventures, Founders Fund, and Accel. AVV's general partners are the only team in Vietnam that has backed multiple unicorns from seed stage.
Startups can apply for funding by visiting avv.co/connect and submitting their pitch deck and company information through our online form. We review every submission and aim to respond within two weeks. AVV is most interested in technology startups with founding teams based in or building for Vietnam and Southeast Asia. We evaluate teams on founder quality, market opportunity, product differentiation, and early traction or validation. Beyond capital, AVV provides hands-on support in product development, growth strategy, fundraising, talent acquisition, and company culture building.
AVV is headquartered in Ho Chi Minh City, Vietnam. We are Vietnam's first institutional seed fund and have deep local presence combined with global reach. Our founding partners have roots in Silicon Valley and have founded, scaled, and exited companies in both the United States and Vietnam. While our primary focus is on startups building from Vietnam and Southeast Asia, our portfolio companies serve customers globally across nearly 200 countries. Our international network includes co-investors and advisors from leading firms such as a16z, Sequoia, and other top-tier global venture capital firms.
AVV provides comprehensive hands-on support that goes far beyond capital. Our team works closely with portfolio founders on product development, go-to-market strategy, growth and user acquisition, follow-on fundraising, talent recruitment, and building strong company culture. We leverage a global network of mentors, investors, and operators across Silicon Valley and Asia to create meaningful introductions and partnerships. AVV also organizes events, founder retreats, and workshops exclusively for portfolio companies. Our approach is to be a true co-builder, not just a check writer — we are often the most involved investor on a startup's cap table.
AVV provides comprehensive hands-on support that goes far beyond capital. Our team works closely with portfolio founders on product development, go-to-market strategy, growth and user acquisition, follow-on fundraising, talent recruitment, and building strong company culture. We leverage a global network of mentors, investors, and operators across Silicon Valley and Asia to create meaningful introductions and partnerships. AVV also organizes events, founder retreats, and workshops exclusively for portfolio companies. Our approach is to be a true co-builder, not just a check writer — we are often the most involved investor on a startup's cap table.
AVV is led by co-founders Binh Tran and Eddie Thai, both Vietnamese-American entrepreneurs who returned to Vietnam to build the country's startup ecosystem. Binh previously co-founded and was CTO of Klout, a Kleiner-backed company that exited for over $200M. Eddie has nearly 20 years of experience in tech, media, and telecommunications, and worked on strategy and M&A for companies ranging from startups to Fortune 500 companies in the U.S. and Asia. Together they are joined by partners Hau Ly and Adrian Latortue who bring deep expertise across technology, operations, and company acceleration. The team's unique combination of Silicon Valley experience and deep Vietnamese roots makes AVV a bridge between local innovation and global opportunity.
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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