Vietnamese investor launches $50m blockchain fund

NextTech Group, a Vietnam-based investor focused on digital commerce, has launched a US$50 million blockchain investment fund called Next100 Blockchain.

Next100 Blockchain team investing in the AntEx ecosystem / Photo credit: Next100 Blockchain

The fund can invest in a blockchain startup through equity contributions and first-round token sales. Next100 Blockchain can also help founders build their startup through an incubation model.

So far, the fund has invested in blockchain-based financial platform AntEx and its stablecoin product VNDT. Next100 Blockchain’s future investments will also be able to integrate with the AntEx ecosystem.

In a statement, the fund pointed out the surge of Ponzi schemes in Vietnam’s blockchain landscape. “There are indeed circumstances where investors are aware that the project is a scam, [but] nevertheless, they still participate out of greed, believing that they will be able to profit and exit quickly,” the company said.

This is why Next100 Blockchain has pledged to become a “lighthouse” that can identify reliable and competent blockchain projects in the country.

In August 2019, NextTech Group launched a US$10 million early-stage fund called Next100.