Dwarves Ventures, Fund 0

A look back at our pilot fund, started in 2019.

It all started when us, a couple of product people realized with our expertise in technology, our passion for outstanding software, we have the ability to uplift like-minded founders by helping them build and launch their startups. The idea became clearer when our network of makers, industry experts and investors broadened steadily.

We had every signal that a VC, by makers and for makers, would be the right path for us. Dwarves Ventures was born with that vision in mind, and Fund 0 came into action to test the water.

Came 2020. It was a year like nothing anyone could have expected. For us, it was a year full of uncertainty and chaos, making our new venture a lot more challanging. We knew we wouldn’t be profitable from our investments. Instead, we decided we should just celebrate small wins whenever we can, and learn as we kept moving ahead.

Throughout 2020, we managed to push boundaries and provide values with our unconventional, “founder-friendly” investment models. We kept on building great partnerships and supporting our portfolio companies in withstanding scrunity and growing. We also gave back to the community that raised us, by contributing to meaning non-profit projects.

The year in number:

  • 9 team members
  • 2 trusted partners
  • 33 investment opportunities
  • 8 portfolio companies
  • 3 communities of aspiring founders and makers

The year in industry:

  • Healthtech
  • Foodtech
  • Proptech
  • Marketplace
  • B2C
  • B2B
  • D2C

Hightlights:

January -

New year, new resoultion. For 2020, we set out to:

Remote team. Following the success of pioneers in the tech industry, our team will go remote-first.

An allround partner for startups. Rather than the mere financial investment, we are going to become part of every startup’s journey that we invest in.

We are going to drill our focus on founders, especially those who leverage technology to transform ways of living and working.

February -

Coronavirus hits hard. The economy is in complete chaos, everything is expected to go digital. The need to focus on technology is at its peak.

Our response: We aim to answer one simple question, “What is the fastest thing we can do to help?” We put forward the Covid-19 relief package, giving portfolio companies, or any business in general, the alternative financial and operational support to get their business online.

March -

We put our mark in the US startup scene. We welcome Para (http://joinpara.com), a startup in the healthtech sector, into our portlofio. The investment itself is meaningful. Para connects facilities with medial professionals, just in time to support health systems fighting the pandamic.

Our innitiative with going remote helps lay the groundwork for our portfolio companies to follow suit and adapt the framework into their team.

May -

We welcome Airwatt to our portfolio. Providing solutions to energy usage with AI as the backbone, Airwatt was honored first place in Startup Wheel 2019.

PurchasingCare, one of our earliest portfolio comepanies, couldn’t make because of the pandemic. We see this as an opportunity to learn and reflect on our model.

July -

We welcome Artzy to our portfolio. Artzy is one of a few Vietnamese eCommerce space that revolves around the finer things, like handcraft arkworks.

Since then, multiple products have been built and launched to cater to different needs of users. Artzy has been seeing a steady growth in 2020.

August -

The launch of Superbits, our own indie software studio. Superbits’ products are built by us, backed by us, and for tech-loving people like us.

September -

We partner with Salt Cancer Initiative (SCI) to build a knowledge and community hub for breast cancer patients across Vietnam.

September -

We welcome Wego to our portfolio. Wego is built around the idea of serving quality coffee to the young generations.

November -

Despite the haywire situation in the US, our portfolio joinPara records stellar development, scoring partnerships with multiple hospital facilities, good numbers of users on the platform and rolling out new products.

December -

We deploy a new system for a more robust collaboration with our portfolio companies. Now monthly updates and reports are much easier and faster.

The last month of the year is dedicated to looking back and learning from our own doing.

All in all, Fund 0 was not an easy voyage, but it was also very rewarding in terms of learning and adapting.

We wouldn’t have been able to endure and move forward without the hard work put together everyday by the aspiring founders, our partners, and the team members.Thanks to everyone, our purpose and headway were not lost. Dwarves Ventures is now a reality.

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