Investor profile
Ascend Vietnam Ventures (AVV)
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AVV is Vietnam's first institutional seed fund, backing bold founders from idea stage through early traction since 2015. The firm invests $250,000–$2 million in initial seed rounds (with follow-on reserves of up to $5 million) in technology startups building from or for Vietnam and Southeast Asia — spanning AI, fintech, enterprise SaaS, edtech, healthtech, agritech, gaming, and web3 — with a conviction that Vietnam will produce more globally competitive technology companies. AVV's thesis is rooted in the belief that Vietnam offers world-class engineering talent at a fraction of Silicon Valley costs, a large domestic market as an ideal proving ground, and increasing global reach for its founders. The team brings Silicon Valley operational DNA — having founded, scaled, and exited companies in both the US and Vietnam — and acts as a true co-builder, providing hands-on support across product, growth, fundraising, and talent, while opening doors to global co-investors such as a16z and Sequoia.
Notable quotes
“While there might still be many startups focused on the domestic market, we are increasingly seeing founders who think bigger, build for the world, and expand beyond Vietnam's borders. It's just the beginning, and we expect this trend to continue as more capital and talent pour into the ecosystem.”
“You didn't necessarily need world-class talent at the beginning; you needed good-enough talent, solving the right problems. Over time, good-enough became world-class.”
“This is one of the largest-ever Series A financing of a Vietnamese startup, and it reflects the confidence equity and debt investors have in the team and their work to drive sustainable growth in the sector. We are glad to offer continued support and look forward to seeing TECHCOOP enable even more farmers and agri-businesses to unlock value in the agricultural ecosystem in Vietnam and the region.”
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Obello | Seed | $9m | 2025-08-12 |
| TechCoop | Series A | $70m | 2025-03-10 |
| Pulse Tech | Seed | $3m | 2025-12-03 |
| Sky Mavis (Axie Infinity) | Seed | — | 2019-01-01 |
| Turing | Seed | — | 2018-01-01 |
| ELSA | Seed | — | 2017-01-01 |
| Trusting Social | Seed | — | 2017-01-01 |
| ApplyBoard | Seed | — | 2017-01-01 |
| PowerTrade | Seed | — | 2021-01-01 |
| Mudflap | Seed | — | 2020-01-01 |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| Andreessen Horowitz (a16z) | 2 |
| Sequoia Capital | 2 |
| TNB Aura | 2 |
| Google Gradient Ventures | 1 |
| Accel | 1 |
| FMO | 1 |
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