DailySocial.id — After officially announcing their involvement in funding Mio, a social commerce startup from Vietnam, this year Venturra Discovery plans to increase the quota for Vietnamese and Indonesian startups to 10 investments.
To DailySocial, Venturra Discovery Partner Raditya Pramana revealed that even though 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 Vietnam has to offer. After Mio, we plan to invest in startups in Vietnam back in the near future. “
Recently Venturra Discovery together with Golden Gate Ventures were involved in seed funding of $ 1 million to Mio. Also participating in this funding are iSeed SEA, DoorDash executives Gokul Rajaram and Vidit Aatrey and Sanjeev Barnwal, co-founders of Indian social commerce unicorn Meesho.
“We see that online retail, especially social commerce, has great potential in the future. For this reason, Venturra Discovery is interested in investing in Mio. Apart from that, we also see that the founders of Mio have strong personalities, ”said Raditya.
Currently Venturra Discovery already has 4 portfolios from Vietnam which have various industry categories. Not only social commerce but also fintech and healthcare. Venturra Discovery is also still focusing on funding from early stage to pre-series A. In the Philippines, Venturra Discovery has invested in Podcast Network Asia (PNA).
Encouraging VC to invest
The pandemic still has concerns over the potential for the next lock down, after seeing what happened in India some time ago. However, according to Raditya, the pandemic proves itself, because despite the difficult conditions, many Indonesian startups are still able to grow their business strategies and innovations. The pandemic has also accelerated digital adoption to the wider community.
For this reason, Raditya invites more venture capitals to invest, and makes this momentum the right time to provide funding to startups.
“Our mission from the start is empowering entrepreneurs in Southeast Asia. And now is the right time for us to aggressively invest in Vietnam as well as in Indonesia. Until the next 2-3 years, we still have enough funds to invest, “closed Raditya.