According to the bank's website, "the proposed investment is for up to US$3 million equity in AVV Alpha, L.P., (“AVV”, or the “Fund”). AVV is a US$50 million (target) Vietnam focused venture capital fund. The Fund will be investing in seed and pre-A stage technology-driven opportunities, mostly focusing on fintech, enterprise services, online commerce, health technology, education technology, media, and logistics."
The Project is expected to align with the AIMM Rating for the Startup Catalyst Envelope.
IFC anticipates that the Project would result in increased access to seed stage equity for digital startups in Vietnam, especially for women founders. The Project is also expected to increase the ability for startups to succeed and scale digital businesses, through the Fund’s dedicated mentorship programs and window for follow-on funding.
Beyond the Project, this investment has the potential to develop the start-up ecosystem and initial building blocks for venture capital markets in Vietnam, via demonstration and replication, enabling, and capacity building channels. IFC’s investment is expected to send a signal on the viability of investing in digital startups established in Vietnam. IFC’s support also enables creation of a constant and quality pipeline of investment opportunities that investors at Series A stage and beyond.
Ascend Vietnam Ventures
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