Vietnam-based investor ThinkZone Ventures has launched a second fund, which has a corpus of US$60 million and is supported by local conglomerates such as IPA Investments Corporation, Phu Thai Holdings, and Stavian Group.
ThinkZone claimed that it is the largest VC fund founded by Vietnamese investors.
ThinkZone Ventures leadership team / Photo credit: ThinkZone Ventures
ThinkZone Ventures’ Fund II will focus on investing in pre-seed to series A rounds of startups across various verticals. It will look to invest up to US$3 million per startup.
At the same time, the VC firm also announced the launch of ThinkZone Accelerator Batch 5, which can help early-stage startups in the process of product and market validation. The accelerator will give up to US$100,000 in funding to every participant, along with the opportunity for a follow-on investment from the second fund.
Founded in 2019, ThinkZone Ventures has invested in 11 startups, which have a cumulative valuation of more than US$110 million. The investment company’s portfolio includes edtech firm Educa, ride-hailing platform EMDDI, and Y Combinator-backed earned wage access startup Gimo.
See also: Is Vietnam the next startup hotspot after Indonesia?
Editing by Collin Furtado and Arpit Nayak
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