Latest ESP Capital News
Sep 8, 2020
by Do Ventures Founders: Vy Hoang Uyen Le (Vy) and Manh Dung Nguyen (Dzung)source: Do Ventures Do Ventures today announced the first closing of its new fund, Do Ventures Fund I, at more than half of the $50M target from first generation entrepreneurs in Vietnam and top institutional investors in Korea and Singapore such as NAVER, Sea, Vertex Holdings, Woowa Brothers, etc. The fund is co-founded by Manh Dung Nguyen (Dzung) and Vy Hoang Uyen Le (Vy), who have successfully developed multi-million-dollar companies and possess unique insights into the Vietnam market. Dzung and Vy have respectively left CyberAgent Capital and ESP Capital to start a new journey of creating a meaningful impact on the local startup ecosystem. Solid Track Record Do Ventures brings together two general partners who have a combined 15 years of investment experience and over 20 years of relevant operations experience. Dzung is one of the pioneering and most successful venture capitalists in Vietnam, with more than 12 years of experience investing in early stage startups. Having successfully venture-built many top local startups from scratch to reach more than hundred million dollars in valuation, Dung was the first investor of several industry leaders in Vietnam, namely Tiki.vn, Foody.vn, Batdongsan.com, CleverAds, Vexere, etc. His Co-founding Partner, Vy, has been a serial entrepreneur since the age of 13 as well as an e-commerce veteran with more than 10 years of experience and extensive traction in managing large-scale startups of a few hundred million in revenue. Beside her deep vein of operations experience, Vy is also recognized as an active investor for early-stage tech startups in Vietnam with investments in 15 companies while she was at ESP Capital. Comprehensive Investment Approach Do Ventures develops a comprehensive investment approach by investing in startups throughout various stages from Seed to Series B. During the process, the first step is to lead seed round investment where the funding gap exists in Vietnam. After the initial investment, it is important to be able to raise subsequent rounds for portfolio companies, so that they have sufficient capital to scale up. As a result, Do Ventures will make follow-on investments up to the B round, and at the same time invite other reputable investors to co-invest in order to add additional values for investees. One of the most important advantages of Do Ventures is to have the support of large corporates, credible institutional investors as LPs, who can also become co-investors in the following rounds. Vertex Ventures SEA & India and Vertex Growth Fund, as part of the Vertex family of funds, could benefit from co-investment opportunities arising. Outstanding Portfolio Support Capability Do Ventures possesses an outstanding portfolio support capability due to its unique strength in developing a data-driven decision-making process for startups. Do Ventures will help set up an automatic reporting system that empowers founders to understand real-time performance of the business and enables the fund’s investment officers to gain a deeper understanding of the company’s overall operations. From the data collected, Do Ventures can offer in-depth tailored operations support in various key areas, including product development, supply chain optimization, organizational design, sales & marketing enhancement, talent recruitment and overseas expansion strategy. Beside internal supporting activities, Do Ventures also conducts a C-level mentorship program to connect successful CEOs from large-scale startups in Vietnam with portfolio company’s founders. The program aims to provide young founders with in-depth advice on growth strategies and operational know-hows in specific industries. “The Vietnam consumption market is at its tipping point and ready to be captured by technology companies with innovative products. We are enthusiastic about the opportunity to boost the local economic growth at this very key circumstance,” said Dzung, Co-founding Partner, Do Ventures. “Together with Dzung, I am thrilled to start a new endeavor with one of the leading venture capitalists in Vietnam and bring a new impetus to the local startup ecosystem,” noted Vy, Co-founding Partner, Do Ventures.
ESP Capital Team
1 Team Member
ESP Capital has 1 team member, including current Managing Partner, Ngoc Nam Nguyen.