Binh Tran, the founder of Klout and a partner at VC firm 500 Startups, looked out over time and geography and saw in Vietnam a place with a steadily growing engineering culture, and a population ready for an economic breakout. The question he needed to answer was this, did Vietnam and Southeast Asia broadly meet his criteria for investments? Could the region deliver those 100X-plus returns that keep venture capitalists in the hunt? At first glance, the answer was “no.” But then Tran saw in startups like Grab a strategy to get to VC scale, and then some.