What Touchstone Partners does

Touchstone Partners is a Vietnam-based, early-stage venture capital firm founded in 2021 by Khanh Tran (Managing Partner, ex-Goldman Sachs, Grab, GoBear, VinaCapital Ventures; INSEAD MBA) and Tu Ngo (General Partner, Stanford BA, INSEAD MBA, Chairwoman of YOLA). Operating from a single office in Ho Chi Minh City with a seven-person team, the firm writes US$200,000-$1,000,000 checks into seed and pre-Series A startups tackling fundamental problems in Vietnam across fintech, health tech, edtech, deep tech, climate tech, and B2B platforms. Its disclosed portfolio of 21+ companies includes Stride (solar cleantech), Selex Motors (EV), Eureka Robotics, Prep (edtech), Medigo (telehealth), Credify (embedded finance), Quqo (B2B distribution), Oda (F&B procurement), Alterno (thermal energy storage), Enfarm (agritech), and Forte Biotech.

The firm operates a fund management business — its primary product is the $10M Green Transition Fund launched in November 2025, with deployment starting December 2025 — and layers on ecosystem-building programs that function as deal-flow engines: the annual Net Zero Challenge climate innovation competition (co-organized with Temasek Foundation since 2023, attracting 1,500+ solutions from 60+ countries across three editions), the Coffee Chat Series monthly founder meet-ups, and AIS4EE, Vietnam's first energy-efficiency startup accelerator. Revenue mechanics follow the standard VC model: management fees on committed capital plus carried interest on exits. The first material proof point came in May 2026 with a partial exit from Stride at 7.25x valuation growth following Stride's $15M Series B.

Touchstone sources deal flow proactively through ecosystem events, direct founder outreach, and portfolio/partner referrals, and structures blended-finance deals combining non-dilutive grants (from Temasek Foundation, P4G, Global Green Growth Institute) with equity. Limited partners include Pavilion Capital, Vulcan Capital (Cercano Management), and other regional institutions; co-investors include East Ventures, AiViet Ventures, and 38M Ventures. The firm's strategic positioning pairs a "high impact, high returns" investment thesis with deliberate institutional partnerships — most recently a trilateral collaboration with Viet Nam International Financial Center and Temasek Foundation signed in May 2026 — to position itself as a category-defining climate investor in Vietnam and Southeast Asia.

Name

Touchstone Partners

Legal name

Touchstone Partners

Website

https://touchstone.vc

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Touchstone Partners is a Ho Chi Minh City-based early-stage venture capital firm founded in 2021 that writes $200K-$1M checks into Vietnamese startups across climate tech, fintech, edtech, health tech, and deep tech, operating a $10M Green Transition Fund and ecosystem programs like Net Zero Challenge and Coffee Chat Series.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

akta.pro secondary industry

Climate / Clean Tech & Decarbonization Funds (FSANAJAA)

Keywords

• Early-stage venture capital
• Climate tech investing
• Vietnam startup funding
• Impact investment fund
• Blended finance partnerships

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Portfolio Returns: Venture capital returns generated through successful exits from portfolio companies. The firm achieved a 7.25x valuation growth on its Stride investment following the Series B exit in 2026.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Touchstone Partners is an early-stage venture capital firm that invests US$200,000 to US$1,000,000 in Vietnamese tech startups from seed to Series A stage. The firm provides capital alongside strategic guidance, ecosystem access, and ecosystem-building programs including the Net Zero Challenge competition, the $10M Green Transition Fund, the Coffee Chat Series meet-ups, and the AIS4EE energy-efficiency accelerator.

Product overview

Touchstone Partners is a Vietnam-based early-stage venture capital firm offering investment services with check sizes of $200,000 to $1 million for early-stage tech startups. The firm operates strategic projects including the Net Zero Challenge (Vietnam's largest climate innovation competition), the $10 million Green Transition Fund, Coffee Chat Series, and AIS4EE accelerator. The portfolio spans climate tech (Stride, Alterno, Enfarm, Forte Biotech), edtech (Prep), fintech (Credify), health tech (Medigo), deep tech (Eureka Robotics), EV (Selex Motors), and B2B platforms (Quqo, Oda, Urbox), demonstrating a focus on high-impact investments addressing fundamental problems in Vietnam while delivering commercial returns.

Differentiator

Problem solved

Functional benefit

Brands

• Net Zero Challenge: Vietnam's biggest climate innovations competition, a global platform to identify and support climate-tech startups with potential to contribute to Vietnam's green transition.
• AIS4EE
• Coffee Chat Series
• Green Transition Fund

Products and services

• Early-stage venture capital investment (US$200k–US$1M checks) Core venture capital investment product: equity funding of US$200,000 to US$1,000,000 per deal for Vietnamese early-stage technology startups (seed to Series A) across fintech, health tech, edtech, deep tech, e-mobility, B2B platforms, and climate tech. Includes post-investment strategic guidance, ecosystem access, and introductions to corporate and public-sector partners.
• Green Transition Fund A US$10 million dedicated climate-tech investment fund targeting startups in sustainable agriculture, circular economy, waste management, and new energy across Vietnam and Southeast Asia, structured to combine equity investment with catalytic grant funding through partnerships with Temasek Foundation, P4G, and the Global Green Growth Institute.
• Net Zero Challenge Annual global climate-innovation competition co-organized with Temasek Foundation since 2023, acting as a sourcing and catalytic-funding platform for climate-tech startups with solutions for Vietnam's green transition. Attracted 1,500+ solutions across three editions (2023-2025) from 60+ countries, with VND 15-20 billion in annual grant prize pools.
• Coffee Chat Series Monthly curated meet-up ecosystem service for Vietnamese entrepreneurs at the earliest stages of their startup journey, featuring mini-workshops, round-table discussions, and one-on-one chats with the Touchstone Partners investment team. Serves as a top-of-funnel deal-sourcing and community-building channel.
• AIS4EE (Accelerator in Sustainable Solutions for Energy Efficiency) Vietnam's first startup accelerator dedicated to energy-efficiency, providing early-stage founders in the energy sector with structured mentorship, training, and ecosystem support as part of Touchstone Partners' impact and climate-tech strategy.

Quantifiable outcome

• Climate portfolio attracted over $3M in catalytic funding (2023-2025)
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Partnerships

Three partnerships are on record, tiered flagship, core and minor.

• Viet Nam International Financial Center (VIFC-HCMC)flagshipStrategic or Co-development Partner · 29 May 2026Trilateral strategic collaboration agreement signed in Singapore to mobilize international financial resources, expertise and networks to advance innovation and technology development for Vietnam's green transition. Net Zero Challenge 2026 designated as first flagship initiative under this collaboration.
• Ho Chi Minh City Institute for Development Studies (HIDS)coreStrategic or Co-development Partner · 21 August 2023Strategic partner co-organizing the Net Zero Challenge competition, supporting winners in pilot implementation and scaling process.
• GS Engineering & ConstructionminorStrategic or Co-development PartnerStrategic partner for Net Zero Challenge 2025, supporting climate innovation competition.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Genesia Ventures: Vietnam/Japan-focused early-stage VC with comparable seed-stage check sizes and a portfolio spanning Southeast Asian tech and climate. Comparable on cross-border SEA-Japan deal flow and founder support approach.
• Monk's Hill Ventures: Singapore-headquartered early-stage VC focused on SEA at Series A. Comparable on stage focus (early-stage tech across SEA) and LP profile, though operating from a broader regional base.
• Saison Capital: Early-stage VC backed by Credit Saison investing across SEA. Comparable on early-stage check size, geographic focus, and fintech-heavy portfolio themes including embedded finance (overlap with Touchstone's Credify investment).
• ThinkZone Ventures: Vietnam-domiciled early-stage VC investing in seed and Series A startups. Comparable on geography, stage, and check-size discipline, with overlapping focus on Vietnamese consumer and SME tech.
• VinaCapital Ventures: Vietnam-focused early-stage venture arm of VinaCapital, previously co-founded by Touchstone's Managing Partner Khanh Tran. Directly comparable on geography and stage focus, with a similar thesis around Vietnamese tech and climate opportunities.
• East Ventures: Indonesia/SEA-focused early-stage VC that has co-invested with Touchstone in companies such as Prep and Medigo. Operates with comparable check sizes, similar stage focus, and overlapping portfolio themes across fintech, healthtech, and climate, making it Touchstone's closest regional peer.
• Clime Capital: Climate-focused early-stage VC that co-led Stride's seed round with Touchstone. Highly comparable given shared climate-tech thesis and overlapping portfolio, and serves as the most direct climate-specialist peer in the region.

Broad incumbents

• Vertex Ventures: Global VC network with a Southeast Asia fund investing across stages. Comparable on SEA early-stage tech thesis, but with materially larger fund sizes and broader geographic reach than Touchstone.
• 500 Global: Global early-stage accelerator/VC with deep Southeast Asia presence. Comparable on early-stage investing and Vietnam focus, but operates a much larger portfolio, global brand, and standardized accelerator model.
• Openspace Ventures: Larger SEA-focused early- and growth-stage VC. Comparable on regional early-stage exposure, though typically writing larger checks and operating a broader portfolio across SEA, including Vietnam.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/touchstonepartners
• LinkedInlinkedin.com/company/touchstone-vc

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments36 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Touchstone Partners