Unitus Impact Social Venture Capital Fund chose Trust Circle for its community-support business model
In April 2016, a group of Wall Street Journal reporters came to Ho Chi Minh City to explore what enticed Unitus Impact, the popular social VC fund from Silicon Valley, to eye on technology projects in Vietnam where its economic growth has been in a spotlight but also hindered by policy deadlocks at the same time.
Unitus Impact, a Social Venture Capital Fund headquartered in San Francisco, USA, has its investment policy focused on businesses that create social values or that solve social problems of developing countries side by side with the return brought about by those fast-growing economies. In Vietnam, Trust Circle is among a few companies that are entrusted and invested by Unitus Impact.
Trust Circle was founded with the aim of harnessing the power of technology and swift adoption of mobile devices to enable ordinary people to save and borrow easily without having to pay high financial transactional costs. Tiet Kiem Nhom is the first mobile application that allows individuals to pool money and save together in a group – a kind of alternative banking channel that is widely popular in many places in the world.
Ms. Shuyin Tang – Principal at Unitus Impact shared that Vietnam is one of the very potential markets for investment, especially when investment has to go hand-in-hand with solving social issues, not only with high-return.
“We hope that we are able to say that with each one of our investments, our money has tangibly improved livelihoods. I think it’s important today, that is not nice-to-have but a must-have for what we do,” she said.
Mon - 25/7/2016