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Tuesday, June 18, 2024

Viet Valley Ventures to invest in three local startups

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HANOI – Newly founded venture capital firm Viet Valley Ventures has announced its investments in three Vietnamese technology startups.

Under agreements signed on May 12, JobsGo JSC, Vietnam Windsoft Technology Company (Windsoft) and Ecommerce Easy Company (EcomEasy) will receive US$200,000-US$500,000 in funding each. The specific investment amount remains unknown.

Aside from providing financial investment, the company will offer consultancy services on development orientations to these startups.

Nguyen Khanh Trinh, managing director of Viet Valley Ventures, told the Saigon Times that the three startups’ operations are associated with technology. They hold potential for further growth, have a low cash burn rate and are expected to earn immediate profits.

The venture capital company made a thorough analysis before deciding to back these startups, he added.

Viet Valley Ventures was founded last year by senior tech executives working in Silicon Valley with an initial investment of US$3 million and seeks to offer financial and tech support to local startups.

Among the three startups, JobsGo is a mobile recruitment platform established in Vietnam in 2018 with one million users to date. It has attracted 20,000 recruiters and recorded three million job applications.

WindSoft specializes in providing software solutions and mobile applications to help businesses with management and digital transformation to increase sales and enhance customers’ experiences.

EcomEasy offers ecommerce marketing and sales solutions to companies. It currently runs four offices in Vietnam, Thailand and Singapore.

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