Startup Seed Funding Part 4 - Top 10 investment fintech firms in Vietnam. Have they helped starups after seed funding?

We know that startups need more money after seed funding. So, among the 10 largest investors in Vietnam in this article. Which investor is willing to give more than financial support to startups? Let's make it clear in the content of this article.

In 10th place is Ascend Vietnam Ventures

Ascend Vietnam Ventures was founded by Binh Tran and Eddie Thai - 2 experienced and dedicated founders who are dedicated to bringing startups in Vietnam to the next level.

Currently, the company has large investments in well-known startups in the market such as Sky Mavis, Elsa, Trusting Social, etc.

In particular, the fund is always focused on supporting women's entrepreneurship when participating in activities such as organizing the series of initiatives to support women start-ups SHINE, together with its partner, Investing in Women4 under the Australian government.

The most successful deal is Elsa when this company has grown many times compared to before receiving the investment and is currently the leading English learning application in Vietnam.

One of the fund's other successful deals is Coolmate. However, the fund had very little or only financial support for startups when Coolmate had to call for capital once again from the TV show Shark Tank Vietnam to find a mentor.

A 9th place is the same when 500 Startups Vietnam is also the fund established by both founders of AVV.

In 8th place is VSV Capital

A portfolio of this fund has more than 80 startups, VSV Capital is considered as one of the most prominent multi-sector investment funds in Vietnam as it invests not only in fintech but also in MedTech, F&B and SaaS platforms.

With such a portfolio, it is difficult for the fund to keep up with what startups are doing and difficult to become a mentor for startups after the seed stage.

In 7th place is VinaCapital Ventures

Seeded by VinaCapital Group, one of Vietnam’s leading asset management companies, VinaCapital Ventures is a US$100 million Vietnam-focused VC platform focused on investing in and building world-class technology companies and incorporating them into a full digital ecosystem.

Some of the successful deals that this fund has followed since the beginning, such as Rever, Urbox have been growing rapidly and capturing the majority of the market share in the business segment.

With founder Don Lam is a voice in the Vietnamese stock market. However, investing in startups is completely different from investing in the stock market. Therefore, the support of this fund to startups is also not appreciated.

However, this fund also has a contribution when investing in a well-known business incubator in the market, which is also the fund that ranks 6th on the Zone Startups Vietnam ranking.

6th place belongs to Zone Startup Vietnam

As a business incubator established to support Vietnamese startups to reach the world. They offer innovative approaches to consulting services that enable corporate clients to explore and embrace new ideas and technologies alongside leading startups.

For Startups with high potential, Zone Startups Vietnam can provide funding and support for future financial endeavors.

The above information is enough to show the dedication of this fund to the startups they invest in. They not only invest money but are also ready to be dedicated mentors for startups before they achieve success on their way to the world.

The next position belongs to Do Ventures

Founded in 2020 by Dzung Nguyen and Vy Le, two people who are very passionate about startups and always give their best support to the startups that they have invested in.

Especially Dzung Nguyen is a person who is very knowledgeable about startups and has worked in this field for over 10 years from leading Japanese ventures.

Dzung Nguyen is also a celebrity after being an investor in Shark Tank Vietnam seasons 2 and 3. There, he demonstrated his expertise in technology and startup management. He also gave a lot of advice to those startups so that they can improve in all aspects of their own development.

The 4th place is ThinkZone Ventures

Founded in 2018 and headquartered in Hanoi, ThinkZone Ventures is a US$60 million fund established by Vietnamese conglomerates in finance, production, distribution and the food and beverage (F&B) industry.

The fund's success comes from fintech companies like Gimo and Fundiin. Although in two different fields, these startups are very difficult to succeed. Without a long-term and sustainable development strategy, it will burn a lot of money to attract users (especially the Buy Now Pay Later segment).

Therefore, the funds invested here must bring more value than money, at least a reliable mentor for the business, especially the BNPL industry is difficult to stay long when there are too many competitors from many big countries in the market.

Son-Tech Investment

Founded in 2020 and headquartered in HCMC, Son-Tech Investment is a US$$50 million Vietnam-focused VC with a mission to invest in pioneers and build world-class technology companies.

The company backs startups in verticals including fintech, edtech, logistics, entertainment, digital health and consumer tech, and partners with top-tier organizations and industry leaders to empower founders with not only capital but also access to deep industry know-how and extensive network in Vietnam and the broader Southeast Asian region.

The story will be similar to ThinkZone Venture when this fund is also required to give more support to this startup in the post-seed round phase.

Openspace Ventures

Founded in 2014, Openspace Ventures provides VC funding to technology companies based in Southeast Asia. By focusing on the fundamentals and with a wide-scale operations team, the firm actively partners with its 39 portfolio companies to help build viable and responsible B2B and B2C businesses.

Similar to the two funds above, but better, this fund owns a well-known company in the BNPL segment, Kredivo. The support has also become lighter. However, once it has a reputation in the market, this brand needs to continue the process of burning money for a long time (like Shopee in Vietnam market) to continue to stimulate users to use the service and earn more customers based on its built brand name.

The first place in the ranking table is Golden Gate Ventures

Golden Gate Ventures is a Southeast Asian VC firm founded in 2011 that brings together knowledge and experience from Silicon Valley with passion and ambition for Southeast Asia. For over a decade, the firm has backed some of the region’s most audacious founders and has had the privilege of being part of Southeast Asia’s incredible growth story.

Golden Gate Ventures invests in startups across Singapore, Indonesia, Vietnam, Malaysia, Thailand, and the Philippines, but also backs companies from around the world that are expanding to Southeast Asia. In particular, the firm seeks startups addressing technological opportunities that arise out of the growing consumer class in the region, which includes everything from consumer apps to B2B SaaS services.

With many years of experience in the F&B market, Golden Gate has been making investments in core technology areas. However, due to too many companies in the portfolio, this fund is also said to not accompany startups for a long time and may consider divesting at any time.

This article was curated and authored by FinFan's market research and development team, alongside our marketing department.

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