May 2019 Newsletter

May 2019 Newsletter

500 Vietnam happy hour at Anan Saigon. Photo: VTC10

Chào mọi người,

Mùa mưa Sài Gòn mới bắt đầu, đem lại suy ngẫm về những biến chuyển phức tạp của thành phố và đất nước này. Một bên là tin tức về sự tăng trưởng kinh tế của Việt Nam, bên kia lại là những kỷ niệm và trách cứ về xung đột quá khứ, cùng những hoài niệm về một thế giới đơn giản hơn. Giữa những ranh giới này là nhiều câu chuyện đi ngược với định kiến thông thường. Thử đọc qua một số headline từ tháng 4:

  • Khi Việt Nam kỷ luật ngôn luận, cựu công an thành công trong nghệ thuật (WSJ)
  • Công ty viễn thông hàng đầu Việt Nam [Viettel, thuộc bộ quân đội] triển khai công nghệ 5G tự phát triển (Nikkei)
  • Sau khi Trung Quốc cấm nhập khẩu nhựa, Đông Nam Á trở thành cơ sở tái chế lớn nhất thế giới (Saigoneer)

Người viết này không dám khẳng định điều gì, chỉ hy vọng rằng người đọc sẽ đôi lúc nhìn lại cảnh quan và con người xung quanh với cặp mắt mới.

Lan man vậy là đủ, giờ tới chuyện công việc:

Trong tháng 4, chúng tôi đã đầu tư vào công ty #41 (fintech / enterprise SaaS) và #42 (edtech). Trong danh mục đầu tư hiện tại, một công ty khác gọi vốn thành công 20 triệu đô la Mỹ tại Series B (chưa công bố). Nền tảng influencer marketing Hiip mua lại BP Network tại Jakarta để tăng tốc quá trình mở rộng trong vùng Đông Nam Á. Influencer đang lên Hậu Lý của chúng tôi cũng vừa xuất hiện trong chương trình của VTV1 (kênh tin tức lớn nhất Việt Nam). Trong khi đó, Bình hoàn thành lịch trình dày đặc trong chuyến đi Việt Nam gần đây nhất.


Hẹn bạn tháng sau,

Team 500 Startups Vietnam


500 Startups Vietnam in the News


Hiip acquires Jakarta-based BP Network to accelerate its regional expansion. Shintaries Nijerinda, Co-founder and CEO of BP Network, said: “BP Network will rebrand to Hiip Indonesia and become part of this highly successful regional company. This will give our customers and influencers access to Hiip’s proprietary AI technology and international cross-market opportunities.” E27 4/25

500VN portfolio company ELSA featured in leading Japanese business newspaper Nikkei Asian Review. Vu Van thinks ELSA can improve the lives of nonnative English speakers: “We believe that when they speak good English…there’s just a lot more opportunity open to them.” The app’s proprietary voice recognition and AI is “incredibly effective” and “makes their technology difficult to duplicate”, said 500VN’s Binh Tran. Nikkei Asian Review. 4/13

500VN manager Hau Ly featured on national television. “Venture capital is not a male arena.” VTV 4/18


Other Vietnam Tech News


How Vietnam is embracing the cashless revolution. According to PwC’s Global Consumer Insights Survey 2019, the number of people making mobile payments in stores is growing the fastest in Vietnam, increasing by 24% to reach 61% in a single year. China leads the pack with 86% of its population tapping mobile payments, followed by Thailand at 67%. Entrepreneur. 4/19

Go-Jek brings in Misfit co-founder and ex-Facebook head Christy Trang Le to lead Vietnam business. Bringing in a new leader — and one with the background of Le — looks like a coup, although her role building out Go-Viet’s on-demand business will be quite different from that of anchoring Facebook or running Misfit/Fossil. TechCrunch. 4/22

Shark Tank Vietnam’s co-star talks recent investments and the country’s startup ecosystem. “Many people think of Vietnam as a place to get low-cost production or software development. Vietnam has 100M people with strong consumerism habits, high literacy rate, who are curious and open to change,” said Linh Thai. Forbes. 4/20

Sequoia reveals first cohort for its ‘Surge’ accelerator program in India and Southeast Asia. Two startups from Vietnam are Telio, a B2B commerce platform that aims to digitize the process of brands and wholesalers selling to retailers; and Uiza, a startup that lets publishers and companies develop their own video infrastructure independent of platforms like YouTube. TechCrunch. 4/19

Shopee starts charging commissions in Vietnam. Shopee’s decision to implement this policy in Vietnam, where it is the most popular e-commerce platform, is the next step in a strategy that first focused on gaining market share and now aims at building a more sustainable business model. KrAsia. 4/8

Vietnam’s Vingroup takes aim at Samsung and China’s Oppo. Vietnam’s richest man, Pham Nhat Vuong, is stepping up his efforts to grab a share of the domestic smartphone market from foreign rivals such as South Korea’s Samsung. Financial Times. 4/28

How Vietnam’s ride-hailing apps are challenging Grab’s local monopoly. Besides Go-Jek, Vietnamese startups including VATO, Aber, FastGo, Be are countering Grab’s stranglehold on the Vietnam market. ASEAN Today. 4/22

IoT Innovation Hub by Ericsson and Vietnam’s Minister of Science and Technology opens in Hanoi. The hub is the first of its kind in Vietnam and is located in Hoa Lac Hi-tech Park. Vietnam News. 4/11

Vietnam’s blockchain startup Utop raises $3M from SBI Holdings, FPT. Utop partners with small businesses to link their reward programs with each other to reduce costs and keep data secure. DealStreetAsia. 4/23




Nordic Mingle Event, HCMC, 5/8

Meet Eddie and other esteemed panelists at the event hosted by the Nordic Innovation House, in celebration of 50 years of diplomatic relations between Sweden and Vietnam. RSVP

2nd Open Innovation Vietnam 2019, HCMC, 5/21

Focusing on innovation in Southeast Asia, the panel includes speakers from VNG, HSBC, and Shinhan to name a few. Event

Women’s Summit 2019 by Forbes Vietnam, HCMC, 5/23

With keynote speeches and panel discussions by women leaders in different fields, the event concludes with a ceremony honoring Forbes’ 50 Vietnamese Most Influential Women 2019. Ticket

Echelon Asia Summit 2019, Singapore, 5/23-24

Eddie will be speaking at e27’s 2-day event with 15,000+ attendees, 100+ exhibiting startups, and three stages on Founders, Future, and Capital. Event

RISE.AI Roadshow, HCMC, 5/31

Networking event by RISE.AI, a corporate AI accelerator program that will bring 30 AI startups from all over the world to Southeast Asia. Event

Thành phố San Francisco
Tầng 6, 814 Mission,
San Francisco, CA 94103, USA

© 2010-2019 500 Startups

April 2019 Newsletter

April 2019 Newsletter

Ảnh: Manager Lý Khánh Hậu trong danh sách Forbes 30 Under 30 Asia 2019


Chào mọi người,

Một số thương vụ lớn (quy mô hơn $50M) đã đẩy mức đầu tư mạo hiểm tại Việt Nam tới mức kỷ lục năm 2018 (theo như báo cáo của Topica Founder Institute), trong đó phải kể đến:

Some negative hits notwithstanding (entertainment company Yeah1 having its content-hosting agreement with YouTube terminated; ride-hailing app GO-VIET parting ways with its CEO), the momentum seems set to continue into 2019. January saw the announcement of Warburg Pincus đã thông báo đầu tư $100M vào nhà cung cấp ví điện tử Momo, và tháng 3 có tin tức cho rằng Tiki đang hoàn tất vòng gọi vốn quy mô $75M từ Northstar. Tháng này chúng tôi cũng đã gặp mặt nhiều nhà đầu tư danh tiếng–những người đang muốn tìm hiểu môi trường Việt Nam và tìm kiếm cơ hội đầu tư–trong đó có Sequoia, GGV (quỹ đầu tư danh giá đang hoạt động tại Trung Quốc/San Francisco), Korea Investment Partners, và Eight Roads (cánh đầu tư mạo hiểm của Fidelity).

We are happy to help deliver great companies to later-stage investors like these. One of our companies recently closed a >$30M Series B (not yet announced), one of a half-dozen that successfully raised money in Q1. Another 10+ of our companies may aim to raise new financing within 2019.

Critical to our work have been the efforts of Hau Ly. Hau joined us almost 3 years ago, in response to a job post seeking our “missing link”. Since then she has worked on investment, portfolio support, fund operations, and now our SF-inspired, Saigon-based Saola Accelerator. It’s been amazing to see how much she’s grown and an honor to have her stay committed. So we were thrilled by Hậu đã được vinh danh trong danh sách Forbes Asia 30 Under 30 2019.

Thành công của các founder, cũng như những nỗ lực của Hậu là minh chứng cho sứ mệnh của chúng tôi: hỗ trợ những startup triển vọng nhất của Việt Nam. Hiện tại, 500 Startups Vietnam đang tiếp tục tập trung vào các startup ở giai đoạn mầmchúng tôi vừa kết thúc một cuộc marathon 3 tháng để đánh giá hàng ngàn công ty công nghệ, song song với việc chuẩn bị bắt đầu chương trình tăng tốc khởi nghiệp Saola vào quý 2cùng lúc đó, chúng tôi cũng bắt đầu suy nghĩ “Tiếp theo sẽ là gì?”

Kết nối với chúng tôi nếu bạn muốn tham gia vào chặng đường tiếp theo của 500 Startups Vietnam.


Hẹn bạn tháng sau,

Team 500 Startups Vietnam


Alibaba’s eFounders Fellowship is looking for digital ventures that have been in operation for at least 2 years, and are based in Cambodia, Indonesia, Malaysia, Philippines, Thailand, or Vietnam. Apply by 4/7.

SC Ventures, the innovation, ventures and fintech investments unit of Standard Chartered Bank, has created SC Ventures Fintech Bridge, a platform to connect community builders such as startups, investors and accelerators. Join or recommend a company.

2019 Visa Everywhere Initiative – Women’s Global Edition celebrates women entrepreneurs with a $100K prize to each challenge winner. Apply by 4/14.


500 Startups Vietnam in the News

Forbes 30 Under 30 Asia 2019 – Finance and Venture Capital: Hau Ly. “Championing gender equality in tech in Vietnam is Hau Ly, 500 Startups manager based in Ho Chi Minh City. Although not yet a partner, Ly is instrumental in helping the $14 million fund invest more than a quarter of the capital into local next generation entrepreneurs. In addition to managing the ecosystem operations, she also leads the Saola Accelerator.” Forbes. 4/1

Forbes 30 Under 30 Asia 2019 – Consumer Technology: Alan Jiang and Deb Gangopadhyay. The co-founders of Beam believe that in dense Asian cities, personal car ownership will eventually be replaced by shared electric vehicles. Forbes. 4/1

Vietnam is shaping up to be Southeast Asia’s next hottest startup ecosystem. Having “plenty of low-cost high-tech talent” is also an advantage for the country, with US tech giant IBM projecting that “Vietnam could be top three in the world by the number of engineers in five years,” explains Eddie. Tech in Asia. 3/20

Hiip, Vietnam’s leading social influencer platform, closes Series A. Vnet Capital led the round; Japan Strategic Capital, Tokyo-listed marketing technology company Rentracks, and Singapore-based Vulpes Investment Management joined. e27. 3/25

A brain drain in reverse. Binh told ASEAN Today that overseas Vietnamese bring “global cultural perspectives, knowledge of modern product development design and processes as well as a better understanding of capital options” to the tech industry. ASEAN Today. 3/20

The uniqueness of startup founders in Southeast Asia: Venture Voices. “Compared with startup ecosystems in Singapore and Indonesia, Vietnam’s ecosystem is still a few years behind. This has required Vietnamese founders to learn how to be resourceful and agile. With all else equal, I think this makes them more competitive in the long run than their counterparts in more cash-rich ecosystems,” said Eddie. KrAsia. 4/2

F&B products that are actually giving back this International Women’s Day. Copper Cow Coffee, a women-owned and sustainably sourced Vietnamese pour-over coffee startup, will be donating 20% of all sales to Women for Women International. Refinery29. 3/9


Vietnam in the News

Vietnam Q1 GDP growth slows to 6.8%. The government has targeted economic growth of between 6.6 percent and 6.8 percent this year. Reuters. 3/29

Gaw Capital says Vietnam is a ‘no-brainer’ investment (video). “Vietnam will still likely in the next 5-7 years be the highest-return market of any Southeast Asia markets, or any Asia markets for that matter,” said Goodwin Gaw. Bloomberg. 3/26

How will foreign investment change Vietnam’s economy? Vietnam is currently at a turning point, looking back at simple exports like rice and Reeboks that helped it develop, and looking forward to a more advanced economy along the lines of Taiwan or South Korea. Voice of America. 3/25

Vietnam students invent air-cleaning bicycle. Test results show that the device could filter up to 86% of dust and 63% of nitrogen oxide. BBC. 3/29

U.S. real estate developers look to Vietnam for cheap financing. The EB-5 program offers green cards in return for investing in job-creating US businesses or real-estate projects. About 20% of EB-5 investment in American real estate now comes from Vietnam, putting it behind India’s 25% and China’s 30%. Wall Street Journal. 3/5


Vietnam Tech in the News

Vietnam’s Tiki set to raise $75M funding round led by PE firm Northstar. Previously, lead a Series C investment round in Tiki alongside VNG, the Vietnam-based online media and gaming company in January 2018. DealStreetAsia. 3/29

GOJEK’s Vietnam CEO steps down, takes on advisory role. Nguyen Vu Duc helped deploy Uber’s services in Vietnam before becoming co-founder and CEO of Go-Viet, which began operations last August. TheLEADER. 4/1

YouTube to end content-hosting agreement with Vietnam’s Yeah1. As a result of the termination, Yeah1 is considering selling California-based ScaleLab, which the Vietnamese company just bought for $20M in January. Bloomberg. 3/9

Breakthrough as Vietnam licenses the first crypto exchange. The current license gives the company the mandate to operate in Vietnam in spite of the authorities banning crypto activities. Yahoo News. 3/28

Vietnam ‘state-aligned’ hackers are targeting auto firms. “It is likely to support the Vietnamese government’s publicly stated domestic manufacturing goals for automobiles,” said Nick Carr of FireEye. Bloomberg. 3/20

Vietnamese ride-hailing app FastGo to launch in Singapore in April. Unlike some ride-hailing apps, FastGo will charge its driver-partners a fixed daily subscription fee instead of collecting commission fees. Yahoo News. 3/22

Jio Health raises a $5M Series A, combines online and offline healthcare in Southeast Asia, starting in Vietnam. The “full-stack” healthcare startup operates an online healthcare app and a physical facility in Saigon. TechCrunch. 4/1

Digital gifting and loyalty platform UrBox raises seed funding to expand into SEA. The startup connects businesses with gift suppliers and merchants to enhance their rewards and loyalty programs. UrBox’s merchants include 7-Eleven, Family Mart, Shopee, and Grab. Tech in Asia. 3/29

Vingroup opens VinTech research centre in South Korea. Vingroup will invest $11M into VinTech Korea to research application of IoT, AI, robotics, and smart manufacturing plants. Vietnam News. 3/5



Venture Builder vs. Venture Capital: Choosing your early-stage funding partners, HCMC, 4/5

Panelists from Fram, REAPRA and Patamar Capital discuss the fundamental differences in investment philosophy, equity structure, founder selection criteria and support system between venture builder and venture capital firms. Ticket

Thành phố San Francisco
Tầng 6, 814 Mission,
San Francisco, CA 94103, USA

© 2010-2019 500 Startups

March 2019 Newsletter

Bản tin tháng 3/2019

Ảnh: Partner Binh Tran tại buổi đàm thoại về cách tăng trưởng đội công nghệ, cùng Turing CEO Jonathan Siddharth và Meltwater CTO Aditya Jami

Chào mọi người,

Sau cuộc gặp Trump-Kim không thành công, người ta bắt đầu phát hiện ra rằng Triều Tiên không phải là Việt Nam: “Việt Nam có người lãnh đạo đúng đắn, mặc dù họ có sai lầm của họ; tại thời điểm đúng đắn—khi Chiến tranh Lạnh dần tan rã, và các thị trường sẵn sàng mở rộng quốc tế. Triều Tiên không có lợi thế như vậy.” Tuy nhiên, chúng tôi tin rằng mọi người thường kỳ vọng quá cao về những gì có thể diễn ra trong 2-3 năm, và đánh giá thấp những gì có thể diễn ra trong 20-30 năm. Nói gì thì nói, không một ai năm 1989 có thể hình dung Việt Nam của năm 2019 ngày hôm nay.

Việt Nam đang gặp mối nan giải mới. Chỉ trong 10 năm, tài sản quốc gia đã tăng 210%, với tầng lớp “siêu giàu có” tăng trưởng nhanh hơn cả Ấn Độ và Trung Quốc. Tập đoàn nội địa đang mua hàng tỉ đô la tiền máy bay Boeing, nhà đầu tư ngoại quốc và tầng lớp mới giàu trong nước đang đổ về thị trường nhà ở cao cấpViệt Nam. Cho tới nay, tăng trưởng kinh tế đã tràn xuống các tầng lớp trung lưu và phía dưới, nhưng khác biệt kinh tế vẫn mở rộng ngày càng nhanh chóng. Chúng tôi hy vọng các công ty trong danh mục đầu tư có thể dân chủ hóa sự tiếp cận tài nguyên và cơ hội, cũng như hỗ trợ tăng trưởng kinh tế lâu dài, bền vững.

Thứ sáu này là Ngày Quốc tế Phụ nữ. BBC gần đây vừa cho ra bài “Triều Tiên có thể học được gì từ phụ nữ Việt Nam", người mà thực tế ai cũng có thể học hỏi được. Chúng tôi luôn khâm phục 7 women VC warriors và những founder nữ. Tháng này, chúng tôi xin được vinh danh tất cả những người phụ nữ, trong đó phải kể đến co-founder của ELSA, Vũ Văn, người gần đây mới thông báo gọi vốn thành công Series A dẫn đầu bởi Gradient Ventures, quỹ tập trung vào AI của Google.

Lần gọi vốn này của ELSA đánh dấu mức $100 triệu USD mà danh mục đầu tư của chúng tôi đã gọi thành công ở những vòng tiếp theo. Điều này càng đáng chú hơn bởi quỹ mới đầu tư $3 triệu USD trong tổng số $14 triệu USA, tính từ thời điểm công bố quỹ 2 năm trước. Chúng tôi trân trọng những founder bởi tầm nhìn và sứ mệnh của họ khi theo đuổi những sản phẩm và dịch vụ tiên tiến, cũng như các nhà đầu tư tâm huyết khi ủng hộ họ và chúng tôi.

Hẹn bạn tháng sau,

Team 500 Startups Vietnam



Vietnam in the News

Vietnam and the dilemma of new wealth. More than 200 Vietnamese have investable assets of at least $30M. Having expanded by 320% from 2000 to 2016, Vietnam’s “super-rich” class is growing faster than that of India and China. Project Syndicate. 2/28

The hot new market for luxury property is Vietnam. Home ownership rates exceed 90%, one of the highest in the world. Rising values mean there are middle-class families with dwellings in excess of $1M. Bloomberg. 2/19

Two Vietnamese budget airlines greet Trump with $20.9B worth of Boeing and GE jet deals. Separately, Vietnam Airlines is also thinking about buying 50 to 100 Boeing 737 Max jets this year. Nikkei Asian Review. 2/27

Hanoians warmly welcome North Korea and US leaders (photos). Vietnam News. 2/28

Triều Tiên có thể học được gì từ phụ nữ Việt Nam. There are now more female business owners in Vietnam than anywhere else in Asia, and they own many of the SMBs which make up 40% of the country’s GDP. BBC. 2/27



Vietnam Tech in the News

Gradient Ventures, Google’s AI fund, leads $7M investment in English learning app ELSA. The deal is Gradient’s first in Asia. TechCrunch. 2/26

P2P lender Validus eyes Indonesia, Vietnam after $15M funding. Validus focuses exclusively on linking accredited and institutional investors – including fund managers, family offices, and corporates – to SMBs. Tech in Asia. 2/26

9 startups aiming for the crown at Vietnam TOP100. AI-enabled regulatory assistant, insurance CRM platform, and medicine B2B platform to name a few. e27. 2/22




Vietnam Tech: Going Global Blockchain + Crypto, 3/7, HCMC

A conversation with tech leaders representing VC investors, blockchain/crypto companies, and platforms. Organized by Global South Tech, with panelists from 500VN and WisePass. Event Page

WISE Women Innovation Acceleration 2019 Launch, 3/8, Hanoi

Panelists include Canadian Ambassador to Vietnam Deborah Paul, Axel Schultze and Marita Schultze of World Innovations Forum, and WISE Acceleration alumni. Event Page

Echelon Roadshow 2019: Ho Chi Minh, 3/12, HCMC

Thao Nguyen of 500VN will be judging TOP100 2019 qualifiers from Vietnam. Hosted by e27, in anticipation of Echelon Asia Summit in May. Event Page

Thành phố San Francisco
Tầng 6, 814 Mission,
San Francisco, CA 94103, USA

© 2010-2019 500 Startups

February 2019 Newsletter

Bản tin tháng 2/2019

Ảnh: Công đoạn làm tranh Đông Hồ

Xin chào,

Chúng tôi vừa trở về sau kỳ nghỉ Tết và sẵn sàng bước vào năm Kỷ Hợi với nhiều tham vọng mới. Theo truyền thống, con heo là biểu tượng của sự giàu có, thịnh vượng và may mắn. Nói cách khác, năm Hợi là năm của các đầu tư thuận lợi. Dù có ăn tết Nguyên Đán hay không, chúc bạn năm mới an khang và thật nhiều thành công.

Sắp tới đây, cuộc gặp thượng đỉnh Trump-Kim sẽ diễn ra vào Hà Nội từ ngày 27-28/2. Đây là sự kiện mang nhiều ý nghĩa về chính trị và kinh tế cho cả Washington và Bình Nhưỡng. "Tóm lại: nguyện vọng của Triều Tiên là lịch sử của Việt Nam,” Charlie Campbell của báo TIME đã nhận xét tháng trước. Việt Nam có được gì sau sự kiện này, ngoài sự tập trung của báo chí quốc tế, lại là một vấn đề khác.

Trong khi đó, chúng tôi tiếp tục với công việc của mình. Chỉ trong bốn tuần vừa rồi chúng tôi đã đầu tư vào 3 công ty mới: #38 thuộc ngành công nghệ bảo hiểm , #39 thực phẩm, và #40 công nghệ du lịch. Để giữ vững tiến độ, cả đội đã chuyển ra văn phòng mới ở trung tâm Quận 1; chúng tôi cũng đón chào thêm một investment analyst và một thực tập sinh. Chúng tôi vẫn còn một số vị trí còn trống; luôn sãn sàng mời cơm nếu bạn giúp tìm startup hoặc thành viên mới cho 500.

Hẹn bạn tháng sau,

Team 500 Startups Vietnam


Vietnam in the News

  • US-China trade war boosts Vietnamese city’s economy. Dan Krassenstein traces one economic boom after another, from Taiwan to China, and now to Vietnam: “Everything I’m seeing now in South Asia and Southeast Asia, it’s like ‘Groundhog Day’. It’s like 30 years ago, 20 years ago, 10 years ago.” NPR. 2/12
  • Southeast Asia bucks trend of sinking global foreign investment. Southeast Asia was the world’s “main FDI growth engine” last year, with Vietnam receiving a record $19B in FDI. Nikkei Asian Review. 2/4
  • Top 10 business events that shape Vietnam in 2018 (infographics). Grab’s acquisition of Uber Southeast Asia, World Economic Forum ASEAN, CPTPP ratification, and more. VNExpress. 12/31
  • How Vietnam went from Cold War foe to a host for Trump and Kim’s summit. Why Vietnam? For starters, trust. Washington Post. Moreover, Hanoi may offer example of reform to Pyongyang during summit. North Korea’s economy in recent years is similar to Vietnam’s economy in 1985, a year before it embarked on the Doi Moi route to reform. Voice of America. 2/11
  • ‘Napalm girl’ Kim Phuc receives German prize for peace work. The founder of the Kim Phuc Foundation is being honored for her support of Unesco and children wounded in war, and for speaking out against violence and hatred. The Guardian. 2/11


Vietnam Tech in the News

  • Momo, Vietnam’s top payment app, lands big Series C investment led by Warburg Pincus. The round size is rumored to be as high as $100M. Standard Chartered led a $28M round in 2016 while Goldman Sachs invested $5.8M back in 2013. TechCrunch. 1/18
  • Logistics startup LOGIVAN raises $5.5M from Alpha JWC, others. To date, the Vietnamese web platform that connects truckers with shipping capacity has raised a total of $7.9M. DealStreetAsia. 2/11
  • Cinnamon raises $15M in Series B for US expansion. Based in Tokyo and Vietnam, Cinnamon develops AI application products and expects to establish a presence in Silicon Valley. VietnamNews. 1/28
  • Media giant Yeah1 continues buying spree, acquires Thai operations of US company. Yeah1 has acquired Thoughtful Media Group’s Thai subsidiary for $1.6M. Earlier, on January 10, it paid $20M to buy Hollywood-based ScaleLab. VNExpress. 1/28
  • Vietnam-based restaurant tech startup KAMEREO raises $500K. KAMEREO allows restaurants to source and procure essential supplies online. Currently, it has over 120 suppliers and 200 restaurants signed up. Yahoo News. 1/7
  • South Korean unicorn to enter local food delivery market in 2019. Woowa Brothers would be a serious competitor to GrabFood and, which dominate the $33M food delivery market after Lalamove left. VIR. 1/30


Upcoming Events


Australian Business Award 2019, 3/8, HCMC

Hosted by the Australian Chamber of Commerce in Vietnam, the award ceremony recognizes Australian connected businesses and individuals operating in Vietnam. Event Page


Echelon Roadshow 2019: Ho Chi Minh, 3/12, HCMC

Hosted by e27 in anticipation of Echelon Asia Summit in May, the event features startup insights, networking opportunities, and Echelon’s TOP100 APAC 2019 Qualifier winners from Vietnam. Event Page

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Tầng 6, 814 Mission,
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© 2010-2019 500 Startups

January 2019 Newsletter

Bản tin tháng 1/2019

Saola, loài động vật quý hiếm còn được gọi là kỳ lân châu Á, được phát hiện tại núi Trường Sơn ở Việt Nam

Chúc mừng năm mới!

Trong những ngày đầu năm 2019, chúng tôi xin được nhìn lại một năm 2018 đầy thành quả:

  • Mức đầu tư ngày càng cao vào các startup Việt Nam! Nghiên cứu và khảo sát sơ lược từ Topica Founder Institute cho biết tổng các thương vụ đầu tư trong năm 2018 đã đạt hơn $889 triệu USD, gấp 3 lần so với 291 triệu của năm 2017.
  • Các thương vụ đầu tư mới của 500VN chiếm 20% tổng số 92 thương vụ diễn ra trong năm 2018. Chúng tôi thực hiện 19 lần đầu tư trong năm vừa rồi, hơn tống số 18 lần của hai năm trước cộng lại.
  • Chúng tôi cũng chốt quỹ 14 triệu USD, 40% vượt mục tiêu ban đầu.
  • Các founder của 500VN tiếp tục đạt nhiều thành công đáng tự hào. Bằng bán lại WifiChua cho Appota, khiến quỹ có startup đầu tiên exit (một vài năm sớm hơn chúng tôi dự đoán). Bunch của Selcuk được để cử một trong những ứng dụng mobile tốt nhất năm 2018 bởi Product Hunt.Nhiều founder đã cho biết gọi vốn thành công tổng cộng ~$68 triệu USD ở những vòng sau -- con số ấn tượng đối với những sản phẩm mới ra thị trường chưa đầy 3 năm.

Năm mới cũng đến cùng những mục đích và tham vọng lớn hơn. Nhiệm vụ của chúng tôi là tiếp tục giúp đỡ các founder đạt được mục tiêu của họ, bất kể họ ở đâu trên thế giới. Đây cũng là lý do chúng tôi công bố Saola Accelerator(Chương trình Tăng tốc Khởi nghiệp Saola): mỗi startup trong chương trình sẽ nhận 100,000 USD từ 500VN, khoản đầu tư lớn nhất trong mọi chương trình tăng tốc tại Việt Nam. Đối tác GS SHOP cũng sẽ đầu tư 100,000 USD vào một số startup trong chương trình, nâng tổng số tiền đầu tư tối đa cho mỗi startup lên tới 200,000 USD.

Chương trình sẽ được xây dựng dựa trên mô hình accelerator của 500 Startups tại Silicon Valleybao gồm Growth Hell Week đặc trưngvà kết thúc với ngày thuyết trình Demo Day, khi các công ty sẽ trình bày tiến độ và sản phẩm của họ trước các nhà đầu tư trong vùng được 500VN mời tham dự. Hạn nộp đơnlà ngày 20 tháng 1, với hạn nộp muộn (late deadline) là ngày 15 tháng 2/2019.

Trong khi đó, Visa Everywhere Initiative Singapore cũng tìm một startup đang giải quyết những vấn đề chính trong lĩnh vực thanh toán ở Singapore và ASEAN để trao giải thưởng 25,000 USD.

Trong khi danh mục toàn cầu của 500 có 7 công ty mới gia nhập Unicorn Club (đạt mức định giá trên 1 tỉ USD) chỉ trong năm 2018, các startup của 500VN cũng đang bắt đầu năm mới #500strong: Leflair gọi vốn thành công 7 triệu USD, với kế hoạch mở rộng tại Đông Nam Á. Panya nhận đầu tư 730,000 USD, và Turing chính thức ra mắt với mục tiêu giúp các công ty kết nối với nguồn tài năng kỹ thuật toàn cầu.

Cheers to the year ahead,

Team 500 Startups Vietnam


500 Startups Vietnam in the News

  • 500 Startups announces the Saola Accelerator in Vietnam. Each participating startup will receive $100K from 500VN, plus a potential additional $100K from GS Shop; access to $500K in perks from 500 Startups’ partners including Amazon, Microsoft, and Google; and connection to the #500strong global community. The program will include 500’s signature Growth Hell Week and conclude with a Demo Day. 500 Startups, DealStreetAsia, Tech in Asia, Reuters, Yahoo News, Vietnam Economic Times, VN Express. 12/19
  • Vietnam’s rising tech talent helps put country on the startup map. “Vietnam currently has around 250,000 engineers, the number of tech jobs having doubled over the last three years,” Eddie Thai said, adding that Vietnam’s IT labour costs are about 40 per cent less than in China and India. South China Morning Post. 12/29
  • Youngsters lead VN’s start-up scene. According to Bình Trần, a partner at 500 Startups and co-founder of Klout, Inc., the country’s engineers are able to build and develop products just as well as their rivals in Silicon Valley – at a cheaper cost. INQUIRER. 1/7
  • Vietnam is the next tech market for a lot of LPs: Eddie Thai, 500 Startups. The magnet that Vietnam possesses, according to Thai, is a combination of a strong economy, exciting demographics, low-cost tech talent and a position as a trade war winner amid the US-China tension. DealStreetAsia. 12/21
  • Vietnam’s e-commerce startup Leflair raises $7M funding from Belt Road, GS Shop. GS Shop, the South Korean limited partner in 500 Startups Vietnam fund, participated in the funding with $3M as its first direct investment in the country. DealStreetAsia. 1/9
  • Turing helps entrepreneurs tap into the global talent pool for engineers. “Turing lets customers push a button and instantly hire an elite, pre-vetted remote engineer,” said Turing CEO Jonathan Siddharth. Entrepreneur. 1/6
  • PayJoy, which comes pre-installed on many smartphones such as Samsung, enables consumers to finance the phone. Anyone, including those with no credit history, is approved and can pay as they go for their phone. Forbes. 12/18
  • Southeast Asian drinks, on the go. Copper Cow Coffee makes portable kits for Vietnamese coffee and Thai iced tea. New York Times. 12/31
  • Trivia game app Panya bags $730K from 500 TukTuks, 500 Startups Vietnam, BigBets, Antler, Investigate, and angel investors. Tech in Asia. 1/11
  • Bunch looks to score with video chat for mobile games. A prolific serial entrepreneur, Atli has created five companies in nine years and has led three of them to successful acquisitions. Forbes. Bunch also got nominated Mobile App of the Year on Product Hunt


Vietnam in the News

  • Why Vietnam could be Asia’s biggest trade war winner. Cheap labor, investment deals, geography, and the VND’s stability: Production workers in Vietnam are paid an average of $216 a month, less than half what their peers get in China. Bloomberg. 12/12
  • Vietnam’s first privately owned airport opens for business. The 290-hectare facility is wholly owned by Sun Group, a Danang-based company that specializes in tourism-, leisure- and entertainment-focused properties and projects. Nikkei Asian Review. 12/30
  • Vietnam economy remains outperformer as growth tops 7% mark. Economic growth is being buoyed by robust domestic demand, and increases in exports, manufacturing and foreign investment. Bloomberg. 12/27
  • Vietnam reaps 6 straight record year in foreign investment. Trade war drives 9% gain in 2018, pulling garment production from China. FDI in Vietnam climbed 9.1% in 2018 to reach $19.1B. Nikkei Asian Review. 1/10
  • Japanese firms pick Vietnam as Asia’s top investment spot, with India a distant second. Of 630 respondents across East Asia, Southeast Asia, India and Australia, 35.7% chose Vietnam as most promising for investment — far above the 17.8% who selected second-ranked India. Japan Times. 1/10


Vietnam Tech in the News

  • Vietnamese media firm Yeah1 acquires US-based ScaleLab for $20M. ScaleLab is a network of 1,750 channels for YouTube influencers who collectively have more than 400M subscribers and 3B monthly views. It recorded 2017 revenues of $27.2M. DealStreetAsia. 1/11
  • Vietnam’s Vingroup targets global markets with smartphones in tech shift. The Vietnamese firm wants to sell its smartphones and other smart products to all continents and has identified Russia and Spain, where it owns 51% of Spanish technology firm BQ, as potential markets in Europe. Reuters. 12/14
  • Vietnam’s VNG mulls $15.6M private placement in first quarter of 2019. It will sell a maximum of 360,000 treasury shares at the offering price of at least VND1M ($43.5) apiece. DealStreetAsia. 1/7
  • Vietnam’s AI awakening: 8 startups putting the country on the global AI map. Trusting Social, Sentifi, Ami and more. Analytics India. 1/3
  • Google ‘studying steps’ to open headquarters in Vietnam in accordance with cybersecurity laws. Vietnam’s information ministry also wants half of social media customers to use domestic social networks by 2020, and plans to stamp out “toxic information” on Facebook and Google. South China Morning Post. 12/12
  • Vietnam threatens to penalize Facebook for breaking its draconian cybersecurity law.  Facebook is accused of allowing users in Vietnam to post “slanderous content, anti-government sentiment and libel and defamation of individuals, organisations and state agencies,” according to a report from state-controlled media. TechCrunch. 1/9
  • Grab loses Vietnam lawsuit, ordered to pay Vinasun $200K. Vinasun sought nearly US$1.8M as compensation, which it claimed was Grab’s portion of the US$3.3M in losses that it suffered. Grab offered to invest US$2.8M in Vinasun but the Vietnamese taxi operator refused the offer. KrAsia. 12/28
  • 7 Fintech Startups from Vietnam to Watch out for in 2019. OnOnPay, Tima, and more. FinTech News. 12/14
  • Home vacation rentals startup Luxstay secures US$3M funding. The Vietnamese startup nabs the round called bridge round from CyberAgent, Y1 Venture, and others. e27. 1/2

Thành phố San Francisco
Tầng 6, 814 Mission,
San Francisco, CA 94103, USA

© 2010-2019 500 Startups

December 2018 Newsletter

December 2018 Newsletter

Friends of 500,

As we hurtle into the holiday season, our team members are taking time to reflect on the journey so far and what lies in the future. In November, we announced the final close of our fund at $14M. When we set the target at $10M in 2016, Vietnam was not an obvious tech investment destination. The country was poor, fraught with bureaucracy, and struggling to create a startup ecosystem. We wouldn’t have been here without all the support from the friends, mentors, founders, and partners we met along the way. In true Vietnamese fashion, family comes first, so here’s a big thank you to the #500strong community worldwide.

The momentum has been palpable. If Obama said “the world is taking notice” of Vietnam’s entrepreneurial spirit in 2016, this year is the second time in a row Vietnam tops places where APAC CEOs look for investment. Days ago, educational service Topica has closed its $50 million Series D – one of the highest to date for a Vietnamese tech company. While tech giants have promised to provide digital training for 20M people in Southeast Asia, Vietnam is putting itself at the forefront of high-speed data communications by quickly rolling out 5G, launching an IoT innovation hub with Ericsson in Q12019, ratifying the Trans-Pacific Partnership trade deal, and generally winning the trade war.

Vietnam has become more than just one of a series of Southeast Asian nations jostling for previously China-based manufacturing operations. Indeed, Vietnam is well placed to strongly capitalize on China’s disrupted trade. – Forbes

With Vietnam on the verge of transformation, 500VN will continue to foster the ecosystem while ramping up our fund operations. We are actively looking for a BD and Partnerships Coordinator and an Investment AssociateIf you know someone who would be a good fit, refer them our way.

As 2018 is winding down, we look forward to another year of deeper collaboration and genuine connection with the local community. In December, Eddie will be a panelist at the Lead The Change 2018 Competition before meeting university students and recent graduates at AmCham Vietnam. Enjoy your holidays, and finish this year #500strong.

See you in January,

Team 500 Startups Vietnam



500 Startups Vietnam in the News


  • An entrepreneur’s guide to Vietnam’s startup scene. Binh Tran, a partner at 500 Startups and co-founder of Klout, Inc. argues that Vietnam is particularly attractive as a startup location and a talent pool for larger companies due to the abundance of low-cost, high-tech talent, engineers and coders who are able to build and develop products just as well as their competitors in Silicon Valley — for a fraction of the cost.The Next Web. 11/16
  • Bunch scores $3.8M to turn mobile games into video chat LAN parties. The seed round is led by London Venture Partners and joined by Founders Fund, Betaworks, North Zone, 500 Startups and more. TechCrunch. 11/15
  • Copper Cow Coffee closed a $2M round led by Silverton Partners (NOSH, 12/4). The Vietnamese-inspired coffee brand also appeared in Forbes’ holiday gift guide for the travelin’ man (Forbes, 11/22) and Vogue’s best on-the-go snacksVogue. 11/6



Vietnam in the News


  • Vietnam continues to top places where APAC CEOs look for investment, says PwC’s Chao (video). In its survey of 1,189 business leaders across the 21 Asia-Pacific Economic Cooperation (APEC) economies, PwC found that the biggest winners for foreign investment will be Vietnam, followed by China. Bloomberg. 11/16
  • Indonesia, Vietnam big draws for private investors, said Bain. 90% of surveyed investors said the two nations would be the hottest South-east Asian markets outside of Singapore. The Straits Times. 11/20
  • Vietnam reduces reliance on China, ratifies new Trans-Pacific Partnership trade deal. Despite Donald Trump’s snub, TPP trade deal will take effect at end of 2018 after Australia ratifies it. It is expected to reduce tariffs between the 11 participating economies that together add up to US$10 trillion. South China Morning Post. 11/13
  • M&A takes center stage in Vietnam’s foreign investment landscape. The finance, property, retail, and consumer goods sectors will continue to dominate M&A in Vietnam. VNExpress. 11/29



Vietnam Tech in the News


  • Topica raises $50M for its online learning services in Southeast Asia. Topica offers a range of different services that include English-language tutoring and university-level courses, but it has expanded to less traditional disciplines, including a “founders institute” accelerator program and a 3D “technologies” program. TechCrunch. 11/27
  • Vietnam signs agreement with Ericsson to open Internet of Things Innovation Hub. The hub will be located at Hòa Lạc Hi-Tech Park in Hanoi and will launch in 1Q2019. Yahoo News. 11/30
  • Vietnam to begin testing 5G networks next year. Vietnam hopes to jump-start its telecom industry and boost high-tech manufacturing by quickly rolling out 5G. Nikkei Asian Review. 11/16
  • Vingroup to launch smartphones next week as part of tech push. VinSmart is also working with Qualcomm and Alphabet Inc’s Google to “update the most advanced technology in the smartphone sector”. Reuters. 12/3




Lead The Change 2018 Final Round, 12/13, HCMC

GP Eddie Thai will be a panelist at the annual startup contest organized by the University of Economics, HCMC with supporting from the US Consulate, the Consulate General of Italy, Accelerator Startup Campus in Korea, and others. Event Page

AmCham Networking Night, 12/14, HCMC

Eddie Thai will be meeting with university students/recent graduates and speaking alongside Linh Pham (Logivan) and Ha Lam ( on the topic of rising from your failure. Organized by AmCham Vietnam. Event Page

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Tầng 6, 814 Mission,
San Francisco, CA 94103, USA

© 2010-2019 500 Startups