Mio, a social commerce startup focused on smaller cities and rural areas in Vietnam, raises $1M seed | Bain Capital Ventures raised $1.3 billion to fund young startups, and young VC firms, too

Bain Capital Ventures raises $1.3 billion to fund young startups, and young VC firms. The venture arm of the 37-year-old private equity firm Bain Capital, announced this morning that it has $1.3 billion more to invest across two funds, a $950 million fund for seed and Series A deals and a $350 million fund for growth-stage opportunities.Mio, a social commerce startup focused on smaller cities and rural areas in Vietnam, raises $1M seed. The startup, currently focuses on fresh groceries and plans to expand into more categories. Founded in June 2020, Mio now claims it has hundreds of agents, or resellers on it’s platform. Mio is among a crop of social commerce startups across Asia that leverage the buying power of areas where major e-commerce players haven’t reached dominance yet.