Vynn Capital’s got a new fund! This VC firm specializes in funding early-stage SEA startups, and they just announced that Malaysia’s Sime Darby and Hong Kong’-based AEI Capital have joined its new fund as limited partners. 

• The amount they contributed was undisclosed.
• The new fund (which is their second) is targeted to close at $30M.

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🏆 It’s a Vynn!

Vynn was founded by ex-Gobi Ventures vice president Victor Chua and Singaporean investor Darren Chua. And no, they’re not related! 

• Their first fund–which closed at $40M–was backed by Malaysia Venture Capital Management Bhd.

Their Vynn-ing Formula. We didn’t make this one up! They invest in sector-specific SEA startups in the supply chain and mobility industries. 

• They’re also keeping an eye out for startups involved in logistics, travel and FMCG!

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🫳 Partnered up

Sime Darby’s strong presence in the motor market will help Vynn’s new ventures in mobility, specifically in ride-hailing and car-sharing. 

• Vynn’s also going to get expert guidance and connections from AEI Capital’s fund-of-funds investment branch. 

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👀 Portfolio sneaks

Vynn joined the startup ecosystem in 2018, and they’ve made some pretty strong market moves since. Scoop: They were early investors in auto unicorn, Carsome.

Here are other startups in their portfolio!

• Ouch! The tech-insurance platform that recently raised an undisclosed pre-Series A.
• Travelio. The Jakarta-based short-term home rental startup that raised a Series C from Korean investors.
• Dropee. The YC-backed startup that allows SMEs to order inventory wholesale. They last raised a $7M Series A.