ThinkZone Ventures launches $60mln fund to accelerate startup growth

ThinkZone Fund II has become the largest local venture capital fund founded by Vietnamese entrepreneurs and conglomerate owners, including IPA Investments Corporation, Phu Thai Holdings, Stavian Group and other investors, according to a statement from ThinkZone.

The fund will invest in tech startups in various verticals from Pre-Seed to Series A. With huge financial resources, ThinkZone Fund II is ready to accompany founders who have great vision, passion and ambition to create products that create positive impacts for the society.

“Over 10 years as a startup founder and a startup supporter, I have learned a lot from my own failures and successes. Therefore, I and ThinkZone always want to contribute and create a launching pad for founders who have the passion and vision to create positive values ​​for society. With Fund II, ThinkZone has more resources than ever to make that happen”, said Mr. Bui Thanh Do, General Partner & CEO of ThinkZone Ventures.

In recent years, the Vietnam startup ecosystem has been more dynamic than ever, attracting a huge amount of investments in tech startups. In 2021, Vietnam recorded a total venture capital investment of up to $2.48 billion, according to a report by DealstreetAsia. The amount was 24 times higher than 2016’s figure.

This number is expected to keep increasing in the coming years, as Bain & Company's 2021 report predicts that Vietnam will be the country to have the highest growth of the Internet economy in Southeast Asia by 2030.

This potential opens up great opportunities that attract domestic and foreign investors in Vietnamese startups, with a total of 108 investors in 2020, 3 times higher than 2016.

However, most of these venture capital funds come from abroad, with limited local resources to support Vietnamese startups. This also results in more complicated investment processes such as setting up a legal entity in Singapore, as well as legal processes for an investment license in other country.

Moreover, besides financial capital, startups also need lots of other support such as knowledge, experience, distribution channels, customer access, legal, .... These are the very advantages of local investors from Vietnam.

Stemming from that facts, ThinkZone II Fund was founded by ThinkZone Ventures and other notable Vietnamese conglomerate owners specialised in various verticals such as finance, retail, manufacturing, agriculture, F&B,...

With resources from the ecosystem of these conglomerates, ThinkZone II Fund can provide a huge amount of support to accelerate the growth of startups, and further to create sustainable development for the economy.

Founded in 2019, ThinkZone Ventures is a venture capital fund focusing on tech startups in the Pre-seed to Series A stage. ThinkZone invests in various verticals such as fintech, edtech, healthcare, transportation, digital transformation,… and was ranked by TechinAsia as the most active investor in Vietnam’s startups.

After 3 years of establishment, ThinkZone has invested in 11 tech startups with a total valuation of more than $110 million.