Venturra Discovery Plans 10 Investments in Vietnam and Indonesia Startups in 2021

After officially announcing their involvement in funding Mio which is a startup social commerce asal Vietnam This year, Venturra Discovery plans to increase the quota for Vietnamese and Indonesian startups by up to 10 investments.

To DailySocial, Venturra Discovery Partner Raditya Pramana said that although he has a team and is located in Indonesia, so far his company has focused on startups from Southeast Asia. After seeing the potential, Vietnam became their target country after Indonesia.

"There are many similarities between Vietnam and Indonesia. We are interested in exploring further all the opportunities that exist in Vietnam. After Mio, we plan to give investment to startups in Vietnam again in the near future."

Recently, Venturra Discovery and Golden Gate Ventures were involved in a $1 million seed funding for Mio. Also participating in the funding are iSeed SEA, DoorDash executive Gokul Rajaram and Vidit Aatrey and Sanjeev Barnwal, co-founders of Indian social commerce unicorn Meesho.

"We saw online retail especially social commerce has great potential in the future. It was for this reason that Venturra Discovery was interested in investing in Mio. In addition, we also see that the founders of Mio have strong personalities," said Raditya.

Currently, Venturra Discovery has 4 portfolios from Vietnam with various industry categories. Not only social commerce but also fintech and healthcare. Venturra Discovery is also still focusing on early stage funding to pre-series A. In the Philippines, Venturra Discovery has invested in Podcast Network Asia (PNA).

Encourage VCs to invest

The pandemic still harbors concerns about its potential lockdown next, after seeing what happened in India some time ago. However, according to Raditya, the pandemic has proven itself, because despite difficult conditions, many Indonesian startups are still able to grow their business strategies and innovations. The pandemic has also driven the acceleration of digital adoption to the wider community.

For that Raditya invites more venture capital to invest, and make this momentum the right time to provide funding to startups.

"Our mission from the start was empowermententrepreneur in Southeast Asia. And now is the right time for us to aggressively invest in Vietnam and also in Indonesia. Until the next 2-3 years, we still have enough fund to invest," closed Raditya.