Vietnam seed funding cooled in 2024. But local and foreign funds still back founders. Saigon is the main hub. Here are 14 seed investors backing Ho Chi Minh City startups in 2026.
Vietnam's seed money has grown tighter over the past year, and the capital that remains tends to back proven models. That shift makes the early conversation harder, but the funds are still writing cheques.
Local funds usually lead the first rounds, and foreign investors join once a deal takes shape. Together they keep early-stage capital flowing through the city.
Saigon still draws most of the deals, so this is where founders pitch first. The density of funds here means your first meetings often happen within a few blocks of each other.
You will pitch many kinds of funds across a single raise, from homegrown VCs to regional and global names. Ellty puts all your data behind one link, so every investor sees the same clean story.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Ascend Vietnam Ventures | VN homegrown seed VC | ~US$250K-$2M | Fintech, agritech, SaaS, AI | avv.vc |
| Touchstone Partners | VN homegrown seed VC | ~US$500K-$2M | Climate, agritech, healthtech | touchstone.vc |
| Nextrans | Korea-VN seed VC | Up to ~US$2-3M | Fintech, SaaS, AI, ecommerce | nextrans.vn |
| VinVentures | Corporate CVC (Vingroup) | Seed to Series A | AI, semiconductors, deeptech | vinventures.vn |
| Iterative | Accelerator-VC | Up to ~US$500K | Sector-agnostic early tech | iterative.vc |
| Antler | Day-zero accelerator-VC | ~US$100K-$600K | Sector-agnostic, pre-seed | antler.co |
| Genesia Ventures | Japan-VN seed VC | ~US$200K-$1.5M | Fintech, commerce, healthcare, AI | genesiaventures.com |
| Cocoon Capital | Singapore B2B seed VC | Up to ~US$1.5M | B2B, deeptech, enterprise | cocooncap.com |
| FEBE Ventures | VN-focused seed VC | ~US$250K-$750K | Broad early tech | febe.vc |
| ThinkZone Ventures | VN homegrown seed VC | ~US$50K-$3M | Tech, fintech, deep tech | thinkzone.vn |
| Wavemaker Partners | Pan-SEA seed VC | ~US$1M-$2M | B2B, deep tech, consumer | wavemaker.vc |
| Do Ventures | VN homegrown seed VC | ~US$500K-$3M | Consumer, fintech, SaaS | doventures.vc |
| 500 Global | Global seed fund | ~US$250K-$500K | Sector-agnostic, early tech | 500.co |
| Golden Gate Ventures | Pan-SEA seed VC | Seed to Series A | Consumer, fintech, broad tech | goldengate.vc |
Run your seed raise from one data room
Seed funds read fast and pass faster. Ellty shows who opened your deck so you chase the keen ones first.
Start free 14-day trialWhat a seed investor backs
A seed investor backs a team and early pull more than a finished business. Revenue helps the case, but it is a bonus rather than a requirement at this stage.
These funds either lead or join small rounds, and in return they want a real stake in the company. That stake is what makes the early risk worth taking for them.
A clear plan speeds up the yes, and a sharp pitch deck does a lot of the work for you. The cleaner your story, the faster a partner can say yes.
Ellty gives each fund one link to your materials. You see exactly who reads your deck and how far they get.
Capital hasn't disappeared; it is just becoming highly concentrated in proven business models.
14 HCMC seed investors
1. Ascend Vietnam Ventures
AVV is the most active VN-based seed lead.
Recent Activity: Led BlokID and backed Pulse Tech in 2024-25
LinkedIn: Ascend Vietnam Ventures LinkedIn
Sector Focus: Fintech, agritech, SaaS, AI
Stage Focus: Pre-seed to Series A
Check Size: ~US$250K-$2M
Location: Ho Chi Minh City, Vietnam
Website: avv.vc
2. Touchstone Partners
Touchstone backs early climate and impact tech.
Recent Activity: Led soil-tech enfarm's 2024 seed
LinkedIn: Touchstone Partners LinkedIn
Sector Focus: Climate, agritech, healthtech
Stage Focus: Seed to Series A
Check Size: ~US$500K-$2M
Location: Ho Chi Minh City, Vietnam
Website: touchstone.vc
3. Nextrans
Nextrans backs early VN startups from Korea.
Recent Activity: Backed AI startup Filum in 2025
Sector Focus: Fintech, SaaS, AI, ecommerce
Stage Focus: Seed to Series A
Check Size: Up to ~US$2-3M
Location: Seoul, with a Vietnam team
Website: nextrans.vn
4. VinVentures
VinVentures is Vingroup's venture arm.
Recent Activity: Backed AI startup Filum in 2025
Sector Focus: AI, semiconductors, deeptech
Stage Focus: Seed to Series A
Check Size: Seed to Series A
Location: Hanoi, Vietnam
Website: vinventures.vn
5. Iterative
Iterative was Vietnam's most active VC in 2025.
Recent Activity: Led Pulse Tech's 2025 seed round
Sector Focus: Sector-agnostic early tech
Stage Focus: Pre-seed, seed
Check Size: Up to ~US$500K
Location: Singapore, Vietnam-active
Website: iterative.vc
6. Antler
Antler writes day-zero cheques to new teams.
Recent Activity: Made 21 VN investments in 2024
LinkedIn: Antler LinkedIn
Sector Focus: Sector-agnostic, pre-seed
Stage Focus: Pre-seed, day-zero
Check Size: ~US$100K-$600K
Location: Singapore, with a HCMC program
Website: antler.co
Send each seed fund one trackable link
Ellty logs when a fund opens your numbers. Follow up at the right moment, not a week too late.
Start free 14-day trial7. Genesia Ventures
Genesia backs seed founders across Asia.
Recent Activity: Closed a US$113M fund in 2026
Sector Focus: Fintech, commerce, healthcare, AI
Stage Focus: Pre-seed to pre-Series A
Check Size: ~US$200K-$1.5M
Location: Tokyo, with a Vietnam team
Website: genesiaventures.com
8. Cocoon Capital
Cocoon backs early B2B and deep tech.
Recent Activity: Closed a new B2B fund in 2025
Sector Focus: B2B, deeptech, enterprise
Stage Focus: Pre-seed, seed
Check Size: Up to ~US$1.5M
Location: Singapore
Website: cocooncap.com
9. FEBE Ventures
FEBE backs early Vietnamese founders.
Recent Activity: Runs a US$75M VN-focused fund
Sector Focus: Broad early tech
Stage Focus: Pre-seed, seed
Check Size: ~US$250K-$750K
Location: Singapore, with a VN office
Website: febe.vc
10. ThinkZone Ventures
ThinkZone is an established VN seed fund.
Recent Activity: Backs early VN tech founders
Sector Focus: Tech, fintech, deep tech
Stage Focus: Pre-seed to Series A
Check Size: ~US$50K-$3M
Location: Hanoi, Vietnam
Website: thinkzone.vn
11. Wavemaker Partners
Wavemaker backs B2B and deep tech in SEA.
Recent Activity: Backed CNV's 2024 seed round
Sector Focus: B2B, deep tech, consumer
Stage Focus: Seed
Check Size: ~US$1M-$2M
Location: Singapore and Los Angeles
Website: wavemaker.vc
12. Do Ventures
Do Ventures is Vietnam's best-known seed fund.
Recent Activity: A leading VN-based seed investor
LinkedIn: Do Ventures LinkedIn
Sector Focus: Consumer, fintech, SaaS
Stage Focus: Seed to Series A
Check Size: ~US$500K-$3M
Location: Ho Chi Minh City, Vietnam
Website: doventures.vc
13. 500 Global
500 Global backs early VN founders.
Recent Activity: Backs VN founders like ELSA
Sector Focus: Sector-agnostic, early tech
Stage Focus: Pre-seed, seed
Check Size: ~US$250K-$500K
Location: San Francisco, SEA-active
Website: 500.co
14. Golden Gate Ventures
Golden Gate runs HCMC and Hanoi offices.
Recent Activity: Runs HCMC and Hanoi offices
Sector Focus: Consumer, fintech, broad tech
Stage Focus: Seed to Series A
Check Size: Seed to Series A
Location: Singapore, Vietnam-active
Website: goldengate.vc
Why capital is concentrating
Funds back proven models now, and the largest deals soak up most of the available cash. That leaves less room for unproven stories at the top of the market.
Seed cheques have grown more selective as a result, and founders are expected to show traction before a partner leans in. The bar for a first meeting has quietly risen.
You stand out by leading with real numbers rather than projections. For one slice of the market, see our fintech investors guide too.
Ellty shows who actually studies your deck, page by page. Track every open in one place and act on the signal.
Local and foreign funds
Local funds usually lead the early rounds, with AVV and Do Ventures often going first. Their conviction tends to anchor the round for everyone else.
Korean and Japanese funds join once momentum builds, and Singapore-based funds back a large share of VN deals. The mix means your cap table can span several countries by close.
Court both kinds of investor early so neither feels like an afterthought. For an adjacent sector, see our agtech investors guide too.
Ellty shares your data across borders without extra friction. Keep every document in one place so each fund sees the same version.
Raising seed money in Saigon
Run a tight process with a clear deadline so the round keeps moving. Do clean due diligence prep before the first serious call.
Keep every document in one virtual data room instead of scattered email threads. Then share the whole set in a single click.
Track interest with document analytics so you can see who is genuinely keen. The patterns tell you where to spend your follow-up energy.
Ellty shows every read as it happens, in real time. Build your raise on real data rather than guesswork.
How to pitch a seed investor
Show a sharp team and early pull.
- 1.Show a sharp team and early pull.Open with the people and the early signal that prove this team can build. Make the vision land in the first few minutes so the rest of the pitch has room to breathe.
- 2.Prove a little real traction.Back the story with whatever real usage or revenue you have, however small. Numbers beat promises, and even modest traction tells a fund the idea is already moving.
- 3.Name your round size and plan.State exactly how much you are raising and what the money will buy. Keep the ask tight so the investor can picture the next eighteen months at a glance.
- 4.Send one Ellty link to your data.Share a single Ellty link that holds your deck, metrics, and model in one place. Watch who digs in so you know which funds to call back first.
How Ellty helps you land a seed investor in Ho Chi Minh City
You have your HCMC seed list ready. Set up a data room before the first call.
- 1.Upload your deck, metrics, and model.Set access per fund.
- 2.Share one trackable link per fund.Each fund gets a unique link.
- 3.Watch opens and reply on time.Use analytics to time each nudge.
Ho Chi Minh City seed investor questions
- Local VCs and foreign funds. Many sit in Singapore.
- Often US$250K to US$2M. Some go higher.
- No, it cooled in 2024. Capital backs proven models.
- Fintech, AI, SaaS, agtech. Logistics too.
- Yes, Korea, Japan, Singapore. They back VN founders.
- Before your first seed call. Track who opens your numbers.
