NextTech, a 20 year old Vietnamese IT and Digital has launched a US$10 million pre-seed or early stage startup fund called Next100 to support startup founders in the innovation industry. The new fund serves as a combined platform of a venture builder, venture capital fund and also an ecosystems for pre startups and is the first of its kind in Vietnam. NextTech claims to have an annual transaction volume close to US$3 billion with varied business entities in South East Asia
The fund is not just restricted to Vietnamese startups but also open to other South East Asian startups in their initial phases. The fund is not restricted to any particular industry or sector and is open to all from edtech, fintech, deep tech, AI, traveltech etc.
With the slogan “Startup Soulmate,” Next100 will not only provide capital but also support pre startup founders in solving various hurdles during a startup’s early phase, such as coaching, product development, tech support, financial and legal consultancy etc, according to a company’s statement. This helps maximize success rate at optimal cost and time, making it a suitable launchpad for aspiring founders to succeed locally and scale regionally.
Startups can also access Nexttech’s ecosystem of close to 24 platforms and over 12 million customers to help with market penetration and expansion in the Southeast Asia region.
For potential investments, the fund said it considers a founding team’s core competencies with an out-of-the-box creative mindset, a deep understanding of the startup’s chosen sector, and a scalable business idea.
Next100’s target markets are technology startups who are digitizing traditional industries, or traditional startups that are leveraging technology to increase efficiency and productivity in their respective sectors; with the common goal to disrupt or optimize traditional practices to deliver new added value for society.
Next100 also announced the inaugural of the most recent startup investments in Vietnam, including premier P2P lending platform called Vay Muon, an instant delivery-on-demand and concierge service platform HeyU, and the country’s first and largest technology chained academy for children called Teky Academy.
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