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Invest & incubate

In Vietnam, we invest in and incubate ventures in three directions. Open to founders of any nationality, we are building a local incubator in Vietnam.

Submit a project Reply within a week · Founders of any nationality

Three directions

We look at the project and the team, not the passport.

New consumer

F&B chains, local services, education and learning: local services that can be replicated and grown into chains.

What we look for

  • A replicable single-store model
  • Real local demand
  • A category that can grow into a chain

What we bring

  • Refining the single-store model
  • Localized brand and marketing
  • Systems to scale into a chain
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AI applications & services

Using AI to solve specific problems for Vietnamese businesses and consumers.

What we look for

  • A specific problem and customer
  • Vietnamese-language use cases
  • Measurable results

What we bring

  • Validating Vietnamese-language use cases
  • Product experience design
  • Channels and customer acquisition
Submit a project

AI compute

The compute and infrastructure that AI applications run on.

What we look for

  • Resources and scale
  • Partners
  • Deployment progress

What we bring

  • Partners and resources
  • Market and customer insight
  • Rollout planning
Submit a project

What portfolio companies get

Beyond capital, our local team gets involved.

Your project
  1. Localized marketingPositioning, content, channels and stores, run by our local team
  2. AI and systemsProduct, systems architecture and data, backed by our tech team
  3. Experience and resourcesOperating know-how from established platforms, plus industry resources

How to start

A one-page summary is enough.

  1. 01Submit a projectPick a direction and stage, write a paragraph
  2. 02Reply within a weekWe contact you the way you chose
  3. 03MeetingWe talk through how we'd invest
  4. 04Invest & incubateCapital, plus two capabilities
Brand localization consultingAI and systems support

A decade ago, team members were backed by

  • Sequoia Capital ChinaVenture capital
  • Source Code CapitalVenture capital
  • Legend CapitalVenture capital
  • GSR VenturesVenture capital
  • Tencent InvestmentTencent's investment arm

FAQ

What stage and ticket size do you invest at?

Case by case. We do not publish stages or amounts on this website; we discuss them when we meet.

Does the project have to be in Vietnam?

Our investment and incubation work focuses on the Vietnamese market: projects should have Vietnam as their main market. Founders and teams can be of any nationality.

When will the incubator open?

We are building a home-grown incubator in Vietnam and will post progress on this website. You can submit a project now.

Can brands outside your portfolio use the two capabilities?

Yes. Both capabilities serve our portfolio and are open to other brands.