AVV

Founded in 2021, Ascend Vietnam Ventures is a venture capital firm based in Ho Chi Minh City, Vietnam. The firm seeks to invest in Southeast Asia-based companies operating in the technology, b2c, artificial intelligence, future of work, wellness, hardware, SaaS, marketplaces, b2b, b2b2c, edtech, gaming, fintech, consumer, and blockchain sectors.

Hau Ly

Partner

Thao Nguyen

Investor

Le Nguyen

Analyst

Minh Ta

Associate

7 past transactions

MFast (DigiPay J.S.C.)

Series A in 2022
MFast operates as a fintech platform. MFAST is a brand under Digital Payment Solution Joint Stock Company - DigiPay JSC.

Retrocausal

Venture Round in 2022
Retrocausal builds intelligence augmentation systems that help frontline workers train better, be more efficient at their daily jobs, and improve the processes they drive. Their RetroActivity platform for human activity analysis automatically builds computational models of a complex physical task, given only a handful of recorded demonstrations of the task. Once such a model is built, RetroActivity can finely track the job status from live video, to guide a worker through the task, provide independent training, and perform analytics.

Modalku

Series C in 2022
Modalku is an online marketplace based in Jakarta, Indonesia, designed to connect small businesses seeking loans with lenders looking to fund these loans. By leveraging technology, Modalku offers borrowers access to financing options that may not be available through traditional channels, often at lower interest rates. Lenders participating in the platform can achieve returns that surpass those typically found in bank deposits and traditional investment products. This marketplace lending model has been successfully implemented in various countries, including the USA, UK, China, and Singapore, demonstrating its effectiveness in supporting small business growth.

Funding Societies

Series C in 2022
Funding Societies Pte. Ltd. is a peer-to-peer financing platform based in Singapore, founded in 2015. It connects investors with small and medium-sized enterprises (SMEs) seeking funding, thereby addressing financial inclusion challenges and making credit-worthy SMEs more bankable. The platform offers a range of flexible financing options, including micro and term loans, as well as invoice financing, supported by advanced credit scoring and risk assessment models. Since its inception, Funding Societies has facilitated over 3.3 million business loans, amounting to more than S$1.8 billion in funding. The company has received multiple accolades, including the Global Excellence Award from ITU Telecom, and holds operating licenses from regulators in Singapore, Indonesia, and Malaysia, making it a pioneer in the region's peer-to-peer lending landscape.

Foodmap

Seed Round in 2022
FoodMap is a startup focused on connecting consumers with ethical farmers and food suppliers through an online food delivery platform. The company simplifies the process of ordering fresh produce by offering a range of organic products, including fruits, vegetables, cereals, oils, nuts, meat, and seafood. These products are directly sourced from farmers, allowing customers to purchase high-quality food items online and have them delivered to their homes. FoodMap aims to promote transparency and support sustainable farming practices while making fresh, nutritious food accessible to a wider audience.

Kilo

Seed Round in 2021
Kilo develops a retail platform that provides retailers access to price, assortment, and inventory management. The platform is designed specifically to serve small and medium-sized retailers. The Kilo network effect creates a virtuous growth cycle for both supply and demand.

Aitomatic

Pre Seed Round in 2021
Aitomatic is a developer of a cloud-based Industrial-AI application platform that utilizes machine intelligence to enhance industrial processes. With a team of experienced data scientists, engineers, and researchers, Aitomatic has spent years building and deploying real-world AI use cases for prominent Industrial-AI leaders. The company combines expertise in AI and software engineering with a strong understanding of the challenges faced in the industrial sector. By providing an AI-engineering development platform, Aitomatic enables businesses to build, test, and deploy AI applications that automate manufacturing activities through machine learning algorithms. This innovative approach positions Aitomatic as a key player in the advancement of industrial automation.
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