Who Are We
ITI FUND
10+
international trading partners, including the US, UK, Germany, France, Spain, UAE, Japan….
25+
partners within
the startup ecology
(SHTP-IC, AHBI, FIIS, IEC, ITP,...)
20+
years of
global supply chain
management experience.
25+
years of corporate
strategic management and
operation experience.
INVESTMENT STRATEGY
ITI FUND
INVESTMENT THESIS
ITI FUND

Sustainable development (ESG)
Foremost and integral to our assessment procedure at ITI is the consideration of Environmental Friendliness, Social Development Capability within the community, and the implementation of an optimal business management model (Governance). These key elements constitute the cornerstone of our evaluation process, underscoring our commitment to sustainable and socially responsible investment practices.

Business model serving large domestic and foreign markets
Vietnam emerges as a prospective market, boasting a nearly 100 million-strong population and a continually improving average GDP per capita, reaching approximately 3,694 USD per person in 2021. Notably, the country's middle class exhibits the fastest growth rate in Southeast Asia as of 2020. Furthermore, Vietnam's total export performance ranks 16th globally in 2020, marked by a commendable 16% growth in value in 2021. These pivotal indicators underscore the compelling appeal of both the domestic market and the nation's export potential. In alignment with our early-stage investment strategy, particularly in Seeding and Pre-seeding stages, ITI Fund transcends conventional considerations limited to innovative products, services, or business models. Our emphasis extends to prioritizing startups and projects capable of meeting the demands of both the domestic and international markets, reflecting our nuanced approach to investment discernment.

Human factor
Human expertise is pivotal for innovation in businesses, shaping their very existence. ITI exclusively collaborates and invests in projects led by co-founders with deep knowledge and hands-on experience in their field. These leaders must also be adaptable to market changes, adept at connecting with teams, and committed to an entrepreneurial spirit. This stringent criterion reflects ITI's commitment to partnering with ventures led by capable and visionary individuals.
ADVISORY BOARD
ITI FUND

Nguyen Huu Thanh
Financial Advisor
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Nguyen Thi Tinh Tam
Legal Advisor
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Mic Nguyen
AI Advisor
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Duong Ngoc Hieu
Technology Advisor
See moreNguyen Huu Thanh
With over 25 years of experience in corporate finance management and over 10 years as the chief accountant, head of finance – accounting department, and chief financial officer of foreign direct investment (FDI) companies in Vietnam, Mr. Thanh is concurrently the General Director of CFO Resource Company; Managing Director of Asia Invest Group, Investment Director of Syngience Investment and a member of the Central Executive Committee of the Vietnam Association of Business Administrators (VACD).
He also directly consults a professional accounting and financial management system development project for a leading Vietnam enterprise, and lectures in one of CFO Vietnam’s practical corporate budget planning, finance and accounting for leaders… training program.
With the accumulated experience, startups can expect valuable advices from Mr. Thanh with regards to business analysis, financial and budget planning, etc.
Nguyen Thi Tinh Tam
Over 22 years of experience in legal advice for multinational corporations have seen Ms. Nguyen Thi Tinh Tam primarily responsible for legal and compliance issues across the group’s various operational activities.
Before joining ITI Fund as a Legal Advisor, she was a lawyer for the Ho Chi Minh City Bar Association with over 11 years of experience working at a leading law firm in Vietnam, providing legal advice to large corporations. Startups can seek her support in perfecting the legal risk management system, ensuring legitimate rights and interests are best protected.
Mic Nguyen
Mic Nguyen is a seasoned technology executive and AI strategist with a strong foundation in business and technology from Johns Hopkins University. With a track record of building and scaling AI-driven companies, he has been at the forefront of innovation in travel technology, AI-powered customer engagement, and digital transformation.
As the CEO of Huuk Inc., Mic has led the development of cutting-edge AI solutions, expanding product lines and driving rapid growth. His leadership has contributed to high-impact projects in collaboration with NASA, the International Monetary Fund (IMF), and the U.S. Department of Defense. His AI-driven initiatives have also been recognized by Harvard, Stanford, and the National University of Singapore (NUS) for their transformative applications in research and industry.
With deep expertise in AI, machine learning, and strategic business development, Mic joins ITI Fund as an AI Advisor, bringing invaluable insights to guide investment strategies and accelerate innovation across the fund’s portfolio.
Duong Ngoc Hieu
A Ph.D. in computer science and over 20 years of experience have granted Mr. Duong Ngoc Hieu an in-depth understanding and expertise in startup evaluation, and research works in the field of computer science from an innovative perspective with deep expertise.
During his tenure at the University of Science and Technology – Ho Chi Minh City National University, he has been the chief architect and led several applied artificial intelligence and advanced technology application projects in several fields comprising security, health, Internet things (IoT), artificial intelligence (AI), big data (Big Data), Blockchain in many sectors (education, environment, transportation, industrial production…)
Mr. Hieu is currently the Deputy Director of the Center for Computing Engineering at the University of Science and Technology – Ho Chi Minh City National University and is the CEO of Computing Group after moving from his previous position as Product Head of Vexere – a bus ticket searching and booking platform with 5000+ agents across the country.
Accompanying ITI Fund as a Technology Advisor, Mr. Hieu will provide expert comments on optimizing the digital transformation process and trend adaptation
OPERATION TEAM
ITI FUND
Le Thuc Hoai
As one of ITI Fund’s founders, Mr. Le Thuc Hoai plays an essential role in leading, strategically planning and investment consulting for the fund, using his 30 years of practical business experience.
Originally a bachelor of Ho Chi Minh City University of Technology – one of the critical technical schools in Vietnam, he has accumulated such a solid foundation that has later granted him the position of Technical Director of Thai Tuan – one of Viet Nam’s leading textile enterprises in terms of fashion items, garments, and service provision, where he has continuously devoted himself to for 25 years and earned the position of Deputy General Director of Strategy and Operation.
He has moved on, since 2019, to play the role of 4M Group’s CEO – renewable energy, green real estate, finance, investment…conglomerate, being responsible for the B2C retail segment, with a deep understanding of omnichannel business operation (e-commerce, direct sales…) in numerous international markets (USA, UK, France, Germany…)
Throughout his companionship with ITI Fund, he has indicated particular interest in projects that could take advantage of Viet Nam’s proud identity and bring it to the world, creating values for the community, and the environment and heading towards sustainable development.
Ngo Dinh Dat
Having over 12 years of management experience in multinational corporations, coupled with a deep understanding of the international market and supply chain management, Mr Ngo Dinh Dat (Mr Muller) is the Managing Director – a key player in building and driving the development of the ITI Fund.
Recently, Mr. Dat was the Director of the Business Strategy & Ventures Department for Motives International, a composite corporation headquartered in New York (USA) with over ten international representative offices (UK, France, Germany, Japan…) and production bases across Asia & Africa (Vietnam, Cambodia, Myanmar, China, Bangladesh, Ethiopia). In this position, he was responsible for planning and implementing innovative development strategies for the corporation in the short, medium, and long term.
Aside from being a pioneer in innovation at international corporations, Mr. Dat also demonstrates a deep commitment to this aspect through his leadership at ITI Fund and roles as judge, advisor, and investor in programs such as the TechFest Vietnam 2023 finals, IR Pitching 2023 (Lab to Global Market), JB Global Stylish Investment, Pitching Entrepreneurship Bootcamp (Ivey Canada)…
Mr. Dat has previously worked as the Chief Human Resources Officer at Vast Apparel Vietnam, responsible for planning and implementing human development strategies for over 3,000 employees across three Southeast Asian factories. He also held the position of Supply Chain Manager at Mowi ASA – one of the world’s largest seafood corporations, employing over 11,500 people with a revenue of nearly €4.9 billion (in 2022), holding a 20% global market share.
As the Managing Director of ITI Fund, he consistently adheres to the investment philosophy of partnering and elevating the position and value of Vietnamese startups.
Nguyen Luong Quang
As one of core members since the establishment of ITI Fund, Mr. Nguyen Luong Quang currently serves as the head of the investment department. Beyond overseeing and executing due diligence activities, he deeply engages with startups in the post-investment stage to support business development.
Mr Quang has more than 10 years of experience in strategic planning, operations, and corporate structure at Motives International—a diversified corporation headquartered in New York. He is also known as a pioneer in innovative and creative projects here.
His visionary leadership and profound understanding extend to areas such as manufacturing and logistics. He previously held the position of Partnership Manager, directly collaborating with clients across more than 20 manufacturing plants and 100 suppliers nationwide.
Representing ITI Fund, Mr. Quang has actively collaborated with relevant organizations involved in the development of the domestic startup ecosystem. He has served as an advisor, judge, and investor in programs organized by TechFest Vietnam, UEH Innovation Institute (UII), FTU Innovation & Incubation Space (FIIS), International University – HCMC National University, Nong Lam University, Innovative Entrepreneurship Centre (IEC), etc.
Huynh Thanh Tung
Mr. Tung serves as a Senior Investment Associate at ITI Fund, leveraging his over 10 years of extensive experience in auditing and financial management to support strategic investment decisions, particularly within ITI Fund’s due diligence processes for startup ventures.
Before joining ITI Fund, Mr. Tung held senior positions at KPMG, where he served as an Audit Assistant Manager from 2013 to 2017 and later from 2021 to 2023. He managed audit and assurance engagements, assessing risk and internal controls. His key audit clients included major companies such as Samsung Electronics, Zuellig Pharma, and Trung Nguyen Group. From 2017 to 2021, he managed a self-business, honing his strategic acumen and operational management skills. He then took on the role of Deputy Head of Accounting at SonKim Land’s property management branch.
Mr. Tung holds a degree in Finance and Banking from the University of Economics, Ho Chi Minh City, grounding his career in robust financial expertise. His audit proficiency and comprehensive financial insights have become essential to ITI Fund’s investment due diligence and portfolio oversight.
Vo Tuan Kiet
As one of the founding team members of ITI Fund, Mr. Vo Tuan Kiet possesses over five years of work experience in data analysis, assisting the management and supervision of the human resource development process through recruitment and training programs at multinational corporations.
Graduating from Foreign Trade University with a major in International Business, as well as a Master’s Degree in Public Policy – majoring in Policy Analysis from Fulbright University, he possesses outstanding strengths in interdisciplinary knowledge and systematic thinking in both the public and private sectors, proven through his experience as Head of Research and Analysis Department, where he directly advised the corporations‘ the Board of Directors and leaders on long-term improvement and innovation considerations in response to market trends.
As the Investment Principal of ITI Fund, he is mainly responsible for market research, data analysis, and investment valuation, beside his unique role as a strategic advisor and financial planner for startups.
Vu Thi Thuy
With over 8 years of multidisciplinary marketing experience, Ms. Vu Thi Thuy assumes the critical role in managing the partnerships within the startup ecosystem and spearheads brand development for ITI Fund while supporting marketing and business expansion for startups in the portfolio.
Holding a Marketing bachelor’s degree, Ms. Vu Thi Thuy has an extensive background in communications across various sectors including education, fashion, mom & baby, and toys, because of her collaboration with major brands such as Hotwheel, Tinistore, and Dwinguler. Her forte is keen to market insight and swift adaptation to trends.
In addition, she contributed to the execution of market penetration campaigns in Vietnam for international giants like Uno (Mattel Group – USA), Emco (Singapore), Dwinguler (South Korea), and Banbao (China). This has enriched her local brand-building and international communication experience.
Besides, she shows an interest in the startup ecosystem through collaborations with innovation programs and prestigious competitions like Startup Wheel 2023, CiC 2022, and IU Startup Demo Day 2022.
Nguyen Trong Phu
With 18 years of experience in the information technology industry, Mr. Nguyen Trong Phu is responsible for applying advanced and suitable technology platforms to production, operation, and trade systems, serving as the foundation for future growth with ITI Fund.
At Fujitsu’s branch in Viet Nam – an 87-year-old enterprise with over 500 companies and 170,000 employees globally, Mr. Phu, with his over three years of experience as a Project Manager, is in charge of consulting the implementation of several production and trade software projects at large corporations such as FPT, HPT, …
He is at the same time the founder and currently the General Director of ENMASYS Co., Ltd – a group of experts in consulting, designing, developing, and implementing ERP solutions with over 15 years of experience in SAP; Oracle, Dynamic 365; Fujicocktails, Pronet; Sure ERP; Odoo.
With the position of Technology Team Leader at ITI, Mr. Phu will be responsible for the technical and technological appraisal of enterprises while overlooking startups’ application of software and technology platforms, such as ERP in business management and operation, in the post-investment phase
Vo Thi Mai Huynh
Ms. Vo Thi Mai Huynh, as a Investment Associate, plays an important role in crafting ITI Fund’s brand image. With a comprehensive five-year background, she actively nurtures business prospects for startups in the investment portfolio. Ms. Huynh is also dedicated to establishing connections between ITI Fund and strategic partners, as well as prominant programs in Vietnam’s dynamic startup ecosystem.
Her career spans prestigious communication entities like Golden Communication Group and GAPIT Communication JSC, where she curates content for diverse sectors, from technology ventures like Trip On Me to traditional domains like Khong Tuoc Nguyen.
Beyond her professional prowess, Ms. Huynh passionately supports sustainable development through non-profit involvement with AICOVID, VietSeeds, VOIS, and Books and Action Organization. Her association with ITI Fund reflects her aspiration to leverage her expertise to amplify startups’ impact on the community.
PORTFOLIO
ITI FUND
- All
- Manufacturing & Retail
- Technology Solutions
- Services
- Other
RESKI HOTPOT
Industry: F&B
Description:
Vietnam is known as a highly potential consumer and shopping market in the Asian region. The estimated scale of the food service market is projected to reach $33.87 billion USD in 2023 and is expected to reach $86.52 billion USD by 2029, with a CAGR of 12.29% in the forecast period (2023-2029). The F&B sector has undergone significant changes in the past 5 years, allowing consumers to experience a variety of high-quality dining service models developed by many domestic and international businesses.
Reski has been developed as a chain of local self-selection hotpot restaurants. In the initial stage of success, Reski is currently testing its open-service model and plans to expand this to suburban districts in Ho Chi Minh City to serve the mass market segment.
Recognizing the market potential and the practical core business model that Reski offers, in December 2023, ITI Fund invested in the company, playing a role as a partner in strategic cooperation. Leveraging new capital and indirect support from the ITI Fund, Reski aims to enhance service quality and expand its business operations to achieve 10 stores within the next 18 months.
Investment Stage: Pre-series A
FOR MORE INFORMATIONBENKON
Field:
Technology
Brief Information:
Benkon is a pioneer in providing “smart” air-conditioning solutions to optimize usage and equipment operation costs.
Built based on the IoTs, with the ability to gather and analyze user behavior data, Benkon’s solution is able to develop customized interventions for both business or household’s energy saving demand.
This Vietnam-made solution is compatible with the vast majority of air-conditioner models available on the global market, manageable via a mobile device’s application.
Since 2022, ITI Fund has been working with the start-up as a lead investor in business development and market-exploring activities.
Investment stage:
Pre-series A
FIND OUT MOREM-BUILDING
Field:
Real-estate
Brief Information:
ITI Fund invested in the project with the desire to initiate the EDGE-compliant (Excellence in Design for Greater Efficiencies) office building construction trend, a certification system issued by IFC (a member of the World Bank) to certify Green Buildings meeting the following standards: reducing energy consumption, contained water and energy level in buildings’ and trade centers’ construction materials, in over 140 countries around the world including Vietnam.
M Building is honored to be one of the first office buildings in Vietnam to achieve the EDGE Offices Green Building certificate in April 2019.
Investment stage:
Pre-series A
PVA PRO
Field:
Manufacturing
General information:
Established in 2021, PVA PRO pioneers advanced polymer transparent packaging solutions, notably characterized by rapid dissolution in 70°C warm water, achieving full decomposition within an impressive 30 to 60-minute timeframe through microorganism-driven processes akin to those found in organic compounds within water.
These offerings surpass the flexibility of conventional plastics, ensuring useful versatility and unwavering environmental commitment. Their mission centers on addressing the critical challenge of plastic waste. In Vietnam, the issue amounts to approximately 1.8 million tons of waste (as per the Ministry of Natural Resources and Environment), while globally, the scale is staggering, reaching 300 million tons (according to the United Nations).
Although traditionally applied in water-soluble laundry and medicinal capsules on a global scale, their relentless pursuit of innovation has led us to conduct extensive research and development efforts, culminating in eco-conscious packaging solutions tailored to diverse industries, including textiles, packaging, retail, and fast-moving consumer goods (FMCG)… with transparent characteristic.
In August 2023, ITI Fund recognized the potential value and invested nearly 1 million USD in PVA PRO. This strategic alliance, further bolstered by ITI Fund’s strategic and operational advisory support, sets the stage for accelerated growth and impact. Together, we aim to fortify PVA PRO’s production capabilities, introduce groundbreaking products, and expand market presence to drive lasting value for our stakeholders and the community at large.
Investment Stage:
Pre-series A
FIND OUT MOREVIETNIPA
Field:
Agriculture
Brief Information:
If the nipa palm, a tree signature to Southern Vietnam, has only been known previously for its leaves and fruits, Vietnipa has pioneered and has now managed to find a solution for harvesting and commercializing natural nectar successfully; a method referred to as “craft stalk massage”
Nectar as it is, this gracious gift from mother nature has relatively low sugar content (GI = 16.69, suitable for type 2 diabetes patients), is mineral-rich and is a good source of critical amino acids and vitamins, making it a perfect companion in helping the body detox and preventing dangerous diseases.
Furthermore, this solution multiplies the economic value of this signature tree several times compared to traditions of mere leave and fruit harvest, which is limited to only once or twice a year. A hectare of nipa palm trees provides up to 15-20 tons of nectar with very little need for cultivation.
With the passion for efficiently developing native nipa palm resources, simultaneously protecting Can Gio ecology – the world’s Biosphere Reserves (according to UNESCO) and sustainably enhancing Viet Nam’s local delicacies value, ITI Fund has, in September 2022, invested in Vietnipa as a companion and a strategic partner.
Investment stage:
Pre-series A
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