VietNamNet Bridge - 500 Startups's small fund worth $10 million will invest in 100-150 start-up projects in Vietnam.

The fund will be run by Binh Tran, the co-founder of Klout and Eddie Thai, which joined the 500 Startups last year.

500 Startups investment fund was established in 2010, headquartered in Silicon Valley (California, USA) and currently manages assets of $240 million.

500 Startups is planning to fund approximately 100-150 companies with operations relating to Vietnam, with about $100,000-$250,000 in each project.

Information about 500 Startups’ investment in Vietnam leaked in November last year. Previously, this fund poured capital in Vietnam’s messaging applications and e-commerce through another fund.

"Vietnam is a country that is thriving, with many talented entrepreneurs and engineers. Eddie and Binh are experienced managers ... They will invest in the brightest companies here," said Dave McClure - founder of 500 Startups.

Through this fund, McClure hopes to continue training the founder and entrepreneur, to develop the technology environment in Vietnam. 500 Startups will also "raise awareness about seizing opportunities to investors or buyers later". Besides, the fund aims to "improve the legal ease when opening or investing in technology companies."

500 Startups has invested in many businesses, such as the Ipsy cosmestic firm of Vietnamese origin millionaire Michelle Phan, LightBox photographic application, ELSA pronounciation study application, ticketing website Ticketbox and messaging application Tappy.

500 Startups Vietnam is the latest investment channel in Southeast Asia of this firm. In addition to Southeast Asia, the fund also pours capital into business in Korea, Japan, Turkey, Scandinavia, the Middle East and North Africa. Since 2010, the fund has invested in over 1,500 companies in more than 50 countries.

Nam Nguyen