Vietnam’s FEBE Ventures launches $75m second fund

Vietnam-based venture capital firm FEBE Ventures has launched a $75-million second fund to continue supporting early-stage startups, according to an announcement.

Fund II is 2.5 times larger than FEBE’s first fund and 90% of it has already been committed. As part of the launch, FEBE Ventures also announced a co-investment partnership with Tekton Ventures.

The new fund will typically have a cheque size of around $250,000 for pre-seed startups and $750,000 for seed-stage companies, with an emphasis on B2B software, marketplaces, health, and sustainability. The fund has established networks in Southeast Asia, North America, Latin America, and Europe.

Otium Capital is the anchor partner of Fund II. The firm manages over $1.4 billion in AUM across 100 investments.

Meanwhile, Tekton Ventures is the San Francisco-based tech investment arm of Partech founder Vincent Worms’s family office.

“Our partnerships with Tekton Ventures and Otium Capital represent key steps in expanding our global footprint. These collaborations are not just strategic; they reflect our commitment to fostering entrepreneurship across borders,” said Olivier Raussin, Managing Partner of FEBE Ventures.

Raussin and his associates co-founded FEBE Ventures in 2019. He was formerly a general partner at Project A Ventures, a $480-million European venture builder and VC fund. Prior to Project A Ventures, Raussin was an entrepreneur and had also held executive roles at Google, YouTube, Microsoft, and Yahoo.

The first fund closed at $30 million and has so far backed more than 35 companies, including Locad, Zenyum, Tindle, Silverbird, and Manatal.

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