HomeVietnamEthos Fund Closes First Fund, at $12M

Ethos Fund Closes First Fund, at $12M

Ethos Fund, a Ho Chi Minh City, Vietnam-based early stage venture capital firm, closed is maiden fund, at $12m.

According to reports, limited partners included Orion’s Bridge Capital, i-Scream Edu, Elite Education Group, Strong Ventures and unnamed founders from several successful companies.

Co-founded by by David Yi and Simon Shin, Ethos Fund is a venture capital firm investing in early stage startups bridging US and Vietnamese tech ecosystems. The firm’s portfolio includes Mirroscape, Uplift, Plots, needle, Skola, Oil, etc.

The Co-Founders

  • David Yi developed $800M+ business opportunities between Asia and America as an executive at some of the most influential EdTech companies in the world, including as CEO for Riiid Labs, Head of Asia for ACT.org, and Managing Director (of Asia) for K12.com
  • Simon Shin founded Cypher Partners, an early stage fund focused on edtech, fintech, and digital health. He spent 5 years in Korea, where he was an investor with Bluepoint Partners, a top accelerator and early stage VC in Korea, leading their global investing team. In addition to investing in startups, Shin has spent more than 10 years leading product teams at successful startups like Riiid ($200+ million in funding), Chegg (IPO), Viant (IPO), and true{X] Media (M&A).

In addition to them, the team includes Venture Partner Gloria Lee.