Topica signs investment agreement with Insignia Ventures Partners

Venture capital fund Insignia Ventures Partners and Topica Founder Institute (TFI), an idea-stage accelerator program, signed an agreement on January 16 in Ho Chi Minh City on Insignia investing at least $50,000 in each graduate founder of the TFI program.

The landmark agreement is the first in a global accelerator program where a blanket deal ensures all graduates receive funding support.  

Mr. Yinglan Tan, Managing Partner of Insignia Ventures Partners, said Vietnam is an energetic startup market with major potential. “If proper investment is available, great Vietnam startups can emerge,” he said. “Insignia Ventures Partners has a desire to contribute to this development. Knowing how TFI has consistently turned out great startups, we’ve decided to enter into this partnership to tap into that potential at the early stage.”

Mr. Tran Manh Cong, Co-director of TFI, said that being with Vietnam startups from the outset, TFI deeply understands the opportunities and challenges they may encounter. “We are always there to support them, not only in knowledge about building startups but also in funding in their early stage,” he said. “This signing between TFI and Insignia Ventures Partners marks a major milestone in validating our contribution to Vietnam’s startup ecosystem over the years and hopefully will propel it to greater heights.”

At the signing, TFI also announced the release of the “Vietnam Startup Deals Insights 2018” report. The annual report highlights the tremendous growth of the startup ecosystem in 2018 and provides a glimpse into the market potential for technology startups and Vietnam’s economy.

It also noted that 2018 witnessed the number of mega deals – those above $30 million – and the exit via IPO by Yeah1. Total investment capital for Vietnamese startups reached over $889 million; triple the 2017 figure of $291 million.

The boom in startups over recent years helps boost the economy and contributes to positive improvements in society.

Notable startups from TFI include Appota, Hoayeuthuong, Kyna, Logivan, and Monkey Junior, which have successfully raised funding since the founding of the program in 2011.