Vietnam’s early-stage venture capital firm ThinkZone has rolled out its fourth fund that seeks to connect resources from the country’s top entrepreneurs and corporations with the next generation of tech startups, according to an announcement.
The fund, called Global Minds Fund I (GMFI), has attracted local LPs who are veteran entrepreneurs operating successful traditional businesses. These investors are now looking to tap the next generation of Vietnamese technology startups.
The fund size remained undisclosed.
The fund will write cheques of up to $1 million for companies from pre-seed through Series A. Portfolio companies can also access additional capital via co-investments from GMFI’s limited partners.
GMFI is targeting tech-driven startups delivering solutions to emerging market demands, and traditional businesses applying deep tech integration to sharpen competitiveness and growth.
Apart from fintech and edtech, the fund will look at opportunities in AI, SaaS, healthtech, and other critical technologies aligned with Vietnam’s national tech development priorities.
“GMFI is fully backed by Vietnamese investors, demonstrating a growing level of trust and commitment from local capital into the country’s tech ecosystem. This domestic force becomes a powerful counterpart to international investors — contributing not just capital, but also deep market knowledge and business networks to help Vietnamese startups thrive on a global stage,” the firm wrote in the announcement.
The launch also comes at a time when the Government is calling for investments in innovation, science and technology.
In June 2025, ThinkZone announced the completion of the acquisition of a controlling stake in BK Investments JSC, directly taking over the management of BK Fund – Hanoi University of Science and Technology Innovation Startup Investment Fund.
Currently, ThinkZone is actively disbursing from Global Minds Fund I and BK Fund while still managing the portfolios of Fund I and Fund II.
In 2023, the VC firm was seeking to raise $50 million for its third fund, which will support startups in their global expansion plans. DealStreetAsia understands that the fund has not closed yet.
In 2022, ThinkZone raised $60 million for its second fund, making it the biggest homegrown VC vehicle backed predominantly by local conglomerates. Local LPs include IPA Investments Corporation, Phu Thai Holdings, Stavian Group and others. The fund will back tech startups across various verticals in the pre-seed to Series A stages, with ticket sizes going up to $3 million. ThinkZone’s portfolio includes GIMO, Fundiin, and Edupia.
