Sustainable Startups – Some Investment Funds Eyeing in Vietnam
Tuesday, 19/07/2022 12:00 (GTM +7)
Green Investing focuses on projects and startups that develop alternative energy sources, conserve natural resources, and provide organic food,… According to Vietnam Investment Review, Mr. Ngo Dinh Dat, Managing Director of ITI Fund, said green startups are gradually becoming popular. Ms. Le Han Tue Lam, CEO of Nextrans, also believes that startups with earnings power and social impact can convince investors to put down money.
Together with ITI Fund, let’s find some investment funds interested in Vietnam’s “green” startups.
1. Patamar
Patamar (US) was established in 2011; up to now, this is considered one of the most dynamic organizations that invest in Southeast Asia social impact startups. With $45 million of total assets, Patamar focuses on growth stage (series A) companies with the goal of economic development for low-income workers.
Patamar has raised and launched:
- Fund I (Series A): invested in 14 early-stage startups that can create jobs and improve living conditions for local people.
- Fund II (Series A&B): is processing to invest in 20-25 early stage and growth companies in South and Southeast Asia, mainly in five areas: education, e-commerce, agriculture, health care, and financial services.
- Investing in Women Fund: launched in 2018, combined Investing in Women Initiative (Australia) to establish the venture capital fund focused on female founders, with the desire to increase opportunities for women in Vietnam, Indonesia, Philippines; with a clear plan that promotes gender equality.
Patamar will devise an investment strategy that focuses on the lack of market connectivity in the economies of South and Southeast Asia. This fund has invested in some Vietnam startups such as Topica, Jupviec, and iCare Benefits.
2. ITI Fund
ITI Fund (Increase-Together-Innovation Fund) is an investment fund founded by 4M Group with the goal of long-term companionship, not only in financial aspects but also in strategic implementation, global network,… through advisors and experts from the world’s leading corporations.
Currently, ITI Fund invests in various fields and stages of business, especially startups that can promote local resources in sustainable ways to go global because of ITI Fund’s strength in international trade with more than ten representative offices worldwide.
ITI Fund’s founders invested in some “green” projects:
3. Earth Venture Capital (EVC)
Founded by Ngoc Tien and Linh Nguyen – who have many years of investment experience, Earth Venture Capital (EVC) focuses on projects that can scale up and apply technology to combat climate change, such as: using alternative energy, reducing energy consumption, increasing green area… EVC mainly aims at early-stage startups with deal-size from 500.000 USD to 3.000.000 USD.
Similar to ITI Fund, besides financial investment, EVC also supports startups for processing, planning strategies, and providing diverse data resources… through networks of experts in more than 100 businesses, climate change investment funds, institutions, and governments in the US, China, Singapore, Australia, and Europe.
EVC has launched the EVS based on Venture Studio – the potential model can provide one unicorn per quarter. In addition, it can connect startups with necessary resources and screen and evaluate ideas. “Earth Venture Studio chooses to support and invest in Vietnam technology startups as solutions to combat climate change,” said Tien Nguyen.
4. Expara Vietnam
Expara IDM Ventures (EIDMV), which was launched in 2003, is the pioneer and leading venture that incubates and mentors early-stage interactive digital media (IDM) businesses in Singapore.
After Expara Vietnam was established in 2015, the first accelerator combined with Microsoft and CLAS was implemented. Two years later, it cooperated with Saigon Innovation Hub (SIHUB) to organize Accelerator Express to help startups increase their capacity.
ITI Fund, Expara and SIHUB in Corporate Venture Capital program (Source: ITI Fund)
Currently, 30% of Vietnamese startups have successfully raised capital of at least 100.000 USD in 1-2 years after the incubation program, of which nine businesses receive direct investment from Expara, which is actively looking for sustainable startups.
5. Nextrans
Nextrans has been a venture capital fund with the mission of supporting startups to develop in the Korean, Vietnamese, and American markets for 15 years. Since 2015, Nextrans has invested in 20 companies after reviewing 800 startups, such as TopCV, Ecotruck, Base, and Ecomobi.
Regarding sustainable investment, Nextrans has a specific department to take charge of this. Recently, the fund poured money into a US startup that develops air conditioning systems for shopping malls and restaurants based on receiving heat from the sun, especially without emitting CFCs or HCFCs to the ozone layer.
The latest deal of a company that treats plastic waste with microorganisms to help them decompose in 30 minutes without affecting the environment. According to Ms. Tue Lam – CEO of Nextrans, these technologies are worthy because of their potential, and Nextrans is also actively looking for similar sustainable startups in Vietnam..
Sources: Collection
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