Investment in fintech companies is always a tough decision for venture capitals, angel investors, etc. However, if the companies can overcome the seeding round and can continue to survive, that is the signal to a successful investment, which can multiply investors' returns by 10 times.
Therefore, many firms want to take the risk to wait for the magic to happen in the future. Here are 10 firms like this.
Based in Ho Chi Minh City (HCMC), Ascend Vietnam Ventures (AVV) is a new firm launched in 2021 by 500 Startups Partners Binh Tran and Eddie Thai to double down on Vietnam.
The firm actively invests via its US$64 million flagship seed fund, AVV Alpha. With AVV Alpha, AVV has increased its investments in startups in Vietnam, seeding up to US$2 million per startup into 25 startups by next year and following on with checks of up to US$5 million.
Fintech is one of the fund’s priority sectors, and AVV has invested in startups like MFast, a mobile app that lets Vietnamese users in remote areas access financial services, and Easygop, a buy now, pay later (BNPL) services provider.
Founded in 2021 and based in Ho Chi Minh City (HCMC), Ascend Vietnam Ventures (AVV) is an early-stage VC firm on a mission to help Vietnam’s exceptional teams in building iconic companies.
Based in HCMC, 500 Startups Vietnam is a fund co-founded by Binh Tran and Eddie Thai, Partners at 500 Startups. The fund was Tran and Thai’s first Vietnam-focused seed fund and made investments into 70+ startups.
Some notable fintech investments include Sky Mavis (Axie Infinity), Trusting Social, PayJoy, Infina, and Bizzi. The fund is now fully deployed but is still being actively managed.
Founded in 2014 and based in Hanoi, VSV Capital is a leading startup accelerator and VC firm for Vietnam’s tech startups. The firm invests in early-stage technology companies operating in sectors including logistics, e-commerce, hardware, agritech, edtech, MedTech and fintech, and says it has made over 80 investment deals from pre-seed to Series B since its inception.
Its VSV Capital Accelerator, formerly known as Vietnam Silicon Valley Accelerator or VSVA, is designed for pre-seed and seed stages startups to quickly validate the viability of their products and business models before scale. More than 130 companies have taken part in the program, the company claims.
According to its website, VSV Capital currently has about 40 startups in its portfolio, including Finhome, a real estate finance platform that helps connect fund seekers with investors; Hectagon Finance, a decentralized venture fund; Hawking Instamo, a remittance marketplace; and Shio, an automated insurance search engine helping mothers quickly find the best insurance package for their child.
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.
The firm’s mission is to help develop strong technology companies in Vietnam and assist them in building a regional presence. It partners with entrepreneurs and provides them with capital, access to its extensive business network, and local know-how from years of experience in Vietnam and Southeast Asia.
According to its website, VinaCapital Ventures currently has 17 companies in its portfolio (direct and indirect holding), including M3ta, a Web3 data analytics company; Signum, a digital asset bank; Nextpay, a Vietnamese SME payments and services platform; GlobalCare, an insurtech startup; Wee Digital, a digital banking startup; and Validus, an SME financing platform.
Launched in 2018 and based in HCMC, Zone Startups Vietnam is part of the global network of the Zone Startups accelerator programs, which source forward-thinking founders and strong teams with visions to become fast-growing market leaders.
The company provides hands-on strategic and tactical guidance for startups looking to drive market validation and customer acquisition, as well as access to investors, corporate partners, and advisors.
It offers an innovation consulting practice that lets corporate clients explore and embrace new ideas and technologies alongside leading-edge startups. For high-potential startups, it can provide seed capital and support for future financing efforts.
According to its website, Zone Startups Vietnam has 36 startups in its portfolio, including Deepview, a crypto-based learn-to-earn platform; Ezin, an insurance company; and Fundiin, a BNPL startup.
Founded in 2020 and based in HCMC, Do Ventures is an early-stage VC firm that focuses on making investments in technology companies in Vietnam and Southeast Asia. The firm looks for pioneers with a desire to create disruptive products that can bring about outstanding values to society, focusing on promising startups that serve the Vietnamese middle class and the country’s massive young population.
Do Ventures prefers to invest in sectors including fintech, AI, data, enterprise solutions, edtech, MedTech and e-commerce. It currently has 14 companies in its portfolio, including MFast, a mobile app that lets Vietnamese users in remote areas access financial services; Validus; and Bizzi.
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 VC fund invests in local startups from pre-seed to Series A stage in verticals including fintech, edtech, e-commerce and logistics transportation, providing them with up to US$3 million per startup. It also invests in accelerator-stage startups via the Global Mind Accelerator with an investment size ranging from US$50,000 to US$100,000.
ThinkZone currently has 12 companies in its portfolio including Gimo, a startup that provides working adults with earned wage access (EWA); Rootopia, an education finance startup; and Fundiin.
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.
Son-Tech Investment currently has 14 companies in its portfolio, including Easygop, a fintech that offers smarter and more flexible cash-pay-later services to Vietnam’s emerging middle class and Gen Z; Hello Clever, an open banking ecosystem for the Australian market; and ConfirmU, a business-to-business (B2B) and business-to-business-to-consumer (B2B2C) startup that enables lenders to assess the creditworthiness of first-time borrowers using a three-minute game and a credit score derived from psychometric data.
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.
Headquartered in Singapore and with active offices in Jakarta, Bangkok, Manila, and HCMC, Openspace Ventures invests across all stages of development and currently has four funds with over US$650 million under management.
In Vietnam, the firm has backed companies such as Finhay, a licensed brokerage company; and Nano Technologies, the operator of Vui, a mobile app that lets workers in Vietnam access their earned wages immediately.
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.
Headquartered in Singapore with offices in Indonesia and Vietnam, Golden Gate Ventures has launched four funds, invested in 80+ companies and currently manages US$250 million worth of assets.
The firm currently has nine Vietnamese startups in its portfolio, including Baokim.vn, an online payment gateway; and Nano Technologies.*
Here are the top 10 investment fintech ventures capitals, which has had invested very strongly and early for fintech companies in Vietnam. Many of these funded companies have developed very quickly and are on the road to becoming unicorns in the future.
FinFan hopes that with our non-stop activities, we can reach the seeding fund with these venture capitals and create momentum for bringing an international NEOBank to all customers nationwide.