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  • Writer's pictureKelly Alica Liman

Top 7 VC Funds and Angel Investors in Cambodia

Every investor is always looking for new emerging markets to invest in. However, throughout the startup boom, Cambodia has not been the fastest in its race against other countries. The limited international exposure and lack of investment have made it difficult for Cambodian startups to grow and expand beyond the country. The Government of Cambodia recognized this and has in recent years established mechanisms and policies to support entrepreneurs. This resulted in startups picking up pace with investments that have just started pouring into the country. There is still room for the Cambodian startup ecosystem to grow, but we are seeing a promising trajectory ahead.






VCs and Angel investors in Cambodia
VCs and Angel investors in Cambodia

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Why Should You Raise Funds in Cambodia?


To survive and thrive, entrepreneurs cannot do it alone. They require a strong ecosystem that includes a supportive government policy, access to capital, skilled talent, quality infrastructure, and strategic partners. The Government of Cambodia recognizes this need and has put in place policies and infrastructures that enable the development of startups.


In 2018, the Cambodian Ministry of Economy and Finance founded the Techo Startup Center, an innovation hub that offers a range of support services for startups. It provides startup development programs, accelerator programs, mentorship, and a network for investment and talent. The following year, they established the Khmer Enterprise with the role to implement support programs and provide seed funding for Cambodia's early-stage startups under the government's Entrepreneurship Development Fund.





In 2021, the Kingdom unveiled the 'Cambodia Digital Economy and Society Policy Framework 2021-2035'. As part of the policy, the Startup Cambodia National Program was incorporated. It is a digital platform that acts as a meeting point for startups and entrepreneurs to participate in the ecosystem development of Cambodia. It serves as a directory that compiles and divulges information from all relevant actors, a space where one can find, interact, and collaborate with other parties within the ecosystem.


Then, the Angkor 500 Global Accelerator program was established. Partnered with 500 Startups, a renowned venture fund, and accelerator based in San Fransisco, it is an initiative to foster entrepreneurship in Cambodia. It offers programs designed to encourage future entrepreneurs in Cambodia to start their own startups and for existing startups to scale in Southeast Asia.


As can be seen, the government has steadily committed a lot of effort to creating an enabling startup ecosystem in Cambodia. As such, it is now a promising time for startups to participate in Cambodia's scene and raise funds in the country.





What's the Difference Between an Angel Investor and a Venture Capital Fund?


Angel Investors: Angel investor is a person who invests personal funds into a startup. As such, they usually invest in seed-stage ventures that are young and relatively high-risk. They typically invest a relatively small amount, usually in the hundreds of thousands, in exchange for some equity. However, they do not necessarily just provide funding, as they may provide founders with mentorship and networking opportunities as well. Angel investors can invest individually or pool their funds together and invest collectively in a network.


Venture Capitalists: Venture capitalists are funds composed of multiple investors, operated by a team of experienced professionals in the field of investing. As such, they don't usually invest their own money and act in the interest of investors. Thus, they usually invest in latter-stage ventures that have a proven track record and ability to produce significant returns on investment. They also invest a larger amount of money, reaching millions of dollars, but in exchange for a larger equity percentage. They would usually require a seat as one of the board of directors, but as a larger firm, they have access to more resources and may connect startups to other investment firms or strategic partners.


Below, in no particular order, is our complete rundown of both these types of investment entities in the region.





Venture Capitalist Funds in Cambodia


The venture capitalist funds below are actively looking for investment opportunities in diverse sectors and at different stages. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed. All quoted investment ranges are in US Dollars unless otherwise stated.



  • Type: VC

  • Stage: Seed, Series A

  • Investment Value: Not disclosed

  • Focus: Trade, Real Estate, Technology


Haystack Fund is a venture capitalist with a global presence and bases in Canada, Europe, and Asia. They have three core focus: trade between Southeast Asia and Canada, real estate and land development projects, and technology at the pre-seed or seed stage. What they care about is finding business models that have evident market potential, carried on by a passionate and relentless team. They want to help you reach an upward trajectory by connecting you with the right mentors and investors - you can call them up to bounce ideas on whatever you need help with. Their portfolio of Asian ventures are Camboticker, Winebodia, and Breathe Wild.




  • Type: VC

  • Stage: Seed, Series A, Series B

  • Investment Value: Not disclosed

  • Focus: Climate Change, Poverty Alleviation, Women Empowerment


With a focus on positive impact and the United Nation Sustainable Development Goals, Uberis Capital provides funding and technical assistance to businesses impacting lives in Southeast Asia. Based on and operating in Cambodia, they have a strong local presence and understanding of the Southeast Asian markets. They know the risks and opportunities in the market and have a network of partners and investors operating in the same region as the ventures. As such, they want to be a partner in supporting ventures through their lifecycle - from seed to growth stage. Some of the impactful ventures in their portfolio are Wality, Solar Home, TeOra, Sun-eee, and Barlolo, among many others.




  • Type: VC

  • Stage: Seed, Series A, Series B

  • Investment Value: $14 million - $35 million

  • Focus: Sector Agnostic


Tanncam Investments invests in early-stage companies across diverse industries with a track record of deals across the globe. However, before investments, they actually focus on management consulting services, acting as trusted counselors to the startups within their portfolio. Consisting of a team of experienced talent both locally and internationally, they have expertise in various business areas such as banking, corporate finance, audit, data management, and more. They will provide startups with tailored advisory services and best practice solutions to improve the startup's operational, financial, and investment efficiencies and increase its value. In Cambodia, their existing projects are the Cambodian Investment Management Co., Ltd and Vibe Cafe Hospitality.




  • Type: VC

  • Stage: Seed, Series A, Series B

  • Investment Value: Not disclosed

  • Focus: Sector Agnostic


Having lived the entrepreneur life themselves, the team at Obor Capital has the experience, expertise, and network to support entrepreneurs walking on the same path. They want to aid visionaries who are disrupting the traditional sectors with innovative solutions, or those paving the way to a new market opportunity. Acting as a coach, colleagues, and co-founders, they are more than just advisors in the business. They take an active and hands-on approach to collaborating with entrepreneurs and supporting their development. With their local market intelligence and skillful talent, they have the capacity to assist startups in all areas of business-building, including strategy, financial management, business development, operations, and fundraising. Their portfolio of Cambodian startups includes Kwish, Camboticket, Shoprunback, Delishop, and Gaea.





  • Type: VC

  • Stage: Seed, Series A, Series B

  • Investment Value: Not disclosed

  • Focus: Technology


To help startups access long-term funding, PLMP Venture Capital provides a range of professional financial services including wealth management, wealth planning, enterprises support, and alternative investment. As the tech venture spin-off from PLMP Fintech based in Singapore, they bring international connections, financial institutions, and technology innovators into the Cambodian ecosystem. They have the platform and funds to support and grow Cambodian startups to reach international levels.




  • Type: VC

  • Stage: Series A, Series B

  • Investment Value: $1 million - $14 million

  • Focus: Telecommunications Media Technology


With a focus and strong presence in Southeast Asia, Belt Road Capital Management invests in entrepreneurs with the vision to improve lives within the region. In particular, their vision is to invest in the future of the Greater Mekong Subregion. Since its establishment in 2017, they have been involved in multiple startup rounds, including Groupin, Sabay, DCG, and Tima. With a large team of industrial, business, and financial professionals working across industries in offices worldwide, they have extensive experience and connections to provide startups with strategic advice, growth hacking, and market insights.




Angel Investors in Cambodia


The Angel investors listed below are part of and represented by an Angel group. As individual Angel investors are hard to come by, these platforms are the best place to secure Angel financing.



  • Type: Angel Group

  • Stage: Seed, Series A

  • Investment Value: Not disclosed

  • Focus: Sector Agnostic


Cambodia Angel Investors Network, also known as CAIN, is the first angel investment network in Cambodia. They run programs to connect startups and angels, organizing events such as investment pitches, startup pitches, business evaluations, and networking. The angels in their network are seasoned entrepreneurs who have the fundamental business knowledge and a risk appetite to invest in a business. It is the best gateway for Cambodian startups to meet angel investors and secure funding, either individually or through a syndicated investment.





Closing Thoughts on VCs and Angel Investors in Cambodia


In this list, we have provided you with multiple venture capitalists and angel investors available in Cambodia. Though there are not as many venture capitalists nor angel investors yet, we are expecting these numbers to start picking up soon. As previously discussed, the government is committed to developing the startup ecosystem in the country. Before long, we should see their initiatives and efforts come to fruition - and more funds being directed to Cambodian startups!


Find VCs and Angel Investors in South East Asia countries:



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