Venture capital investment flows into Vietnam, particularly from Singapore, are on track to surpass the previous level, propelled by the country’s buoyant tech startup scene.
Startup Selly, Vietnam's social commerce model, has raised $2.6 million in a Pre-Series A funding round from investment funds CyberAgent Capital, Do Ventures, Genesia Ventures, JAFCO Asia and KVision.
Venture capital in Vietnam will reach $600 million and may surpass $1 billion in 2021. The country is expected be an attractive destination for venture capital funds in the following years.
Investment in Vietnamese startups reached a record high in 2019 but dropped 22 per cent in the first half of 2020 due to COVID-19, according to the Vietnam Tech Investment Report 2019 for the first half of 2020 by Do Ventures.