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)
This is the first and also the core element that ITI takes into consideration in our evaluation process: Environmental Friendliness, Community – society development capability (Social), Optimal business management model (Governance).

Business model serving large domestic and foreign markets
Vietnam is considered a potential market, with a total population of nearly 100 million people, increasingly improving average GDP per capita of roughly 3,694 USD/person (2021) beside the middle class with the fastest growth rate in Southeast Asia (2020). At the same time, total export ranks 16 globally (2020), a growth rate of 16% in value (2021). These key factors prompt us to highly appreciate the attractiveness of both the domestic market and the country’s export capability. As can be observed from our early-stage investment strategy (Seeding, Pre-seeding), ITI Fund seeks elements beyond mere innovative products, services, or business models. We prioritize startups and projects that can satisfy both the domestic and international market

Human factor
Human plays the most crucial role in the innovation part of any businesses, accordingly deciding the business’s existence. ITI will, therefore, only cooperate and invest in projects where co-founders have the required in-depth knowledge and practical hands-on experience in their specific field of operation. At the same time, founders must be sensitive and adaptable to market fluctuations, able to connect and coordinate with the company’s pivotal team and uphold the entrepreneurial spirit.
ADVISORY BOARD
ITI FUND

Nguyen Huu Thanh
Financial Advisor
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Nguyen Thi Tinh Tam
Legal 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.
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
With over 12 years of management experience at large corporations, combined with good market insight and decisive leadership talent, Mr. Ngo Dinh Dat is currently Managing Director of ITI Fund and is the key to building and promoting the fund’s development.
Most recently, Mr. Dat was the Director of the Strategy and Investment Department for a conglomerate in the non-food industry headquartered in New York (USA) with over ten global representative offices. (UK, Japan, France, Germany…) and production bases throughout Asia & Africa (Vietnam, Cambodia, Myanmar, China, Bangladesh, Ethiopia). His key responsibilities here included planning and implementing innovative development strategies for the corporation in the short, medium, and long term.
Mr. Dat used to work at Vast Apparel Vietnam as Chief Human Resource Officer, responsible for planning and implementing human development strategies for more than 1,000 employees spanning three factories in Southeast Asia. He also held the position of Supply Chain Manager at Marine Harvest Group – one of the world’s leading seafood corporations with over 11,000 employees in 24 countries.
Mr. Dat has been the consultant and judge at such programs as Startup Ideas (CiC), I-Startup, and Pitching Entrepreneurship Bootcamp (Ivey Canada),… to demonstrate his deep interest in the startup ecosystem. As the Managing Director of the ITI Fund, he has always upheld a consistent mindset and action, intending to build a prestigious organization and a professional team to contribute to and support leveraging young Vietnamese startups in the ecosystem.
Dang Thi Kieu My
Ms. Dang Thi Kieu My (Kimmy) is Director of ITI Fund, responsible for leading investments, driving portfolio growth strategies, and cultivating networks within the fund’s entrepreneurial ecosystem.
With over 13 years in investment management and asset oversight, Ms. Kimmy has held leadership roles at prominent entities, including Dragon Capital VietFund Management, Manulife Vietnam Asset Management Company (MAMV), AIP Foundation, and Vietsin Joint Venture Company. Starting in 2021, she has been participating in pioneering initiatives such as transitioning to open-end funds and designing investment instruments for Vietnam’s dynamic market. In 2016, Ms. Kieu My was named MAMV’s official spokesperson, making her the youngest spokesperson for a publicly-traded fund management entity.
Prior to joining ITI Fund, Ms. Kimmy served as Head of Business Development at AIP, where she orchestrated capital mobilization and partnership expansion there across regions including Thailand, China, Cambodia, Malaysia, and Denmark. Under Ms. Kimmy leadership, AIP attracted over 3 million USD for community and non-profit initiatives from international entities and multinational corporations.
In addition to her financial expertise, Ms. Kimmy is dedicated to supporting startup community in Vietnam. She is an adjudicator, speaker, and advisor in esteemed startup competitions such as Startup Wheel 2023, Social Business Creation 2023, IU Start-Up 2023, CiC 2022… She contributes to innovation discourse through participation in forums such as the Vietnam Agriculture Investment Forum 2022 and seminars at respected academic institutions including Nong Lam University Ho Chi Minh City and Ho Chi Minh City University of Science.
Ms. Kimmy graduated from Fulbright University Vietnam with a Master of Public Policy degree concentrating in Leadership and Management with Cum Laude honor. In addition, she holds a Fund Management Certificate issued by the State Securities Commission of Vietnam.
Nguyen Luong Quang
As one of core members of ITI Fund, Mr. Nguyen Luong Quang currently serves as the Investment Principal, responsible for analysis, evaluation, and collaboration with startups during the post-investment phase to drive business development.
With over 10 years of experience across planning, strategy, operations, and structure departments in the largest Southeast Asian suit exporting conglomerate, Mr. Quang is recognized as a trailblazer in innovative projects within the company. His profound insights into production and logistics have been instrumental in these initiatives.
Furthermore, he holds the position of Partner Relationship Manager, directly engaging with major strategic clients spanning more than 20 manufacturing facilities and 100 suppliers nationwide.
In his role as Investment Principal at ITI Fund, Mr. Quang exhibits a deep commitment to innovation and works closely with startups to refine production processes, logistics, and post-funding management.
Additionally, he supports domestic entrepreneurial activities as an advisor and judge for competitions organized by esteemed institutions such as UEH Institute of Innovation, FTU Innovation and Incubation Space, the International University – Vietnam National University Ho Chi Minh City, Nong Lam University, VNU-HCM Innovative Entrepreneurship Center…
Mr. Nguyen Luong Quang holds a degree in International Economics from the Foreign Trade University, Ho Chi Minh City.
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
Tran Duong Quoc Bao
As an Investment Analyst at ITI Fund, Mr. Tran Duong Quoc Bao conducts thorough research, analysis, and due diligence for potential start-ups. His extensive experience and expertise make him a trusted advisor to startups, providing invaluable financial support and guidance on business operations.
Mr. Bao previously served as an audit assistant at Ernst and Young Vietnam Co., Ltd (EY), where he worked with large foreign-invested corporations (FDI) with a turnover of over $100M. His experience spanned diverse fields such as retail, manufacturing, real estate, and healthcare.
Mr. Bao’s academic and professional achievements include a bachelor’s degree in finance from the University of Economics Ho Chi Minh City (UEH) and a certification as a Chartered Financial Analyst (CFA) at level 1, which have equipped him with a strong understanding of financial principles and practices.
Mr. Tran Duong Quoc Bao is a valuable member of ITI Fund, leveraging his expertise to help startups better visualize their financial picture and create a launching pad for business developments.
Tran Thuy Trang
As an Investment Analyst at ITI Fund, Ms. Tran Thuy Trang undertakes the application of data science in the field of digital conversion and risk management for businesses.
She spent two years at the R&A department (Research & Analysis) of a multinational corporation, where her various responsibilities included information collection, research conduct, trend analysis, accordingly assessing the correlation between economic factors, contributing to the investment decision-making process and the company’s expansion of market and business sectors.
Ms. Trang has also been a member of the organizing committee and mentor of various student scientific research competitions, with one of her articles being published in the Proceedings of the National Scientific Conference on Vietnam’s economy in 2020 and prospects for 2021: “Responding to and overcoming the Covid-19 pandemic, towards recovery and development”.
At ITI, Ms. Trang has been dedicating herself to startups’ sustainable development path through optimizing the database management system and business model positioning, helping the company identify, assess risks and implement strategies to most effectively utilize resources, optimizing the business’s profit margin
Vo Thi Mai Huynh
Ms. Vo Thi Mai Huynh, as a Partnerships and Communications Executive, 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
BENKON
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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