In 2021, Ascend Vietnam Ventures (AVV) formally launched the AVV Alpha Fund, which will make up to 25 investments in local tech startups. For the past three decades, Vietnam has been the fastest growing market in fast growing South East Asia and is forecasted to continue to play a critical role in the region for years to come. AVV believes that Vietnam will be a new tech capital in the near future. Early-stage investments from the Alpha Fund will range from USD 500 K to USD 2 M for enterprises in such sectors as finance, education, health care, productivity, and the future of work. About a third of the startups will receive follow-up investments of USD 4 M each. The fund’s first close is expected in late 2021, with a three-year investment period.