ThinkZone Fund II raises $60 million to invest in tech startups
By Quynh Chi
February 22, 2022 | 04:23 PM GMT+7
With a total committed fund size of up to $60 million, ThinkZone Fund II is the largest venture capital fund in tech startups founded by Vietnamese entrepreneurs and notable conglomerate owners.
ThinkZone Fund II has a total committed fund size of up to $60 million
ThinkZone Ventures will invest in tech startups in various verticals from pre-seed to series A (up to $3 million per startup). 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 society.
Besides financial resources, the biggest advantage of ThinkZone Fund II compared to other venture capital funds is the huge support from large Vietnamese conglomerates in many fields such as IPA Investments, Phu Thai Holdings, Stavian Group.
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.
Startups that receive investment from ThinkZone Ventures will have great potential to be supported and partner with these corporations, to take advantage of the huge resources in finance, production, distribution, retail,...
In recent years, Vietnam's startup ecosystem has been more dynamic than ever, attracting a huge amount of investments in tech startups. A report by DealstreetAsia shows that Vietnam recorded a total venture capital investment of up to $2.48 billion last year, nearly 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, eleven times higher than the current market size.
This potential opens up great opportunities that attract domestic and foreign investors in Vietnamese startups, with a total of 108 investors in 2020, three times higher than in 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 countries.
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.
Startups stand to benefit from an environment of the lower doing-business cost during the Covid-19 crisis, including cheap rental and access to talent at lower hiring costs.
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