By Jon Russell
Vynn Capital, a new entrant to Southeast Asia’s startup ecosystem, is gearing up to close its maiden fund after it landed an undisclosed sum from Malaysia Venture Capital Management Bhd (MAVCAP) as one of its anchor LPs.
Founded by former Gobi Ventures VC Victor Chua and Singaporean investor Darren Chua (no relation) one year ago, Kuala Lumpur-based Vynn is targeting a $40 million fund for Southeast Asia. The firm has already made four investments and, on the LP side, gone after traditional businesses and Southeast Asia’s family corporations. Landing MAVCAP — which is Malaysia’s largest investor has backed VC funds including Gobi — is a major coup for a debut fund.
“The investment from MAVCAP is a very good validation for Vynn Capital,” said Victor Chua, who is Malaysian. “Personally, having been active in the local and regional ecosystem, I’ve benefited from the growth trajectory of the ecosystem and am now able to launch a new fund that is addressing the need of the traditional businesses to be innovative.”
“The thesis of the fund is Southeast Asia, but through our investment we are focused on …read more
Source: Tech Crunch