500 Startups, which operates worldwide micro-funds, announced it has raised $14 million in an oversubscribed Vietnam-focused fund. The fund, launched in 2016, had targeted initially to raise $10 million. In a blog post, 500 Startups said it has already invested nearly $3 million in 36 companies to date, with a focus on companies serving the Vietnam market or leveraging Vietnamese talent. The fund is led by Eddie Thai (a Vietnam-based entrepreneur) and Binh Tran (co-founder and former CTO of Klout).
Source: Blog post