Do Ventures
Do Ventures is a Ho Chi Minh City-based early-stage venture capital firm deploying capital into Vietnamese and Southeast Asian technology startups through a US$50M Fund I and a climate-focused Fund II, while co-publishing the annual Vietnam Innovation & Private Capital Report and co-organizing the VIPC Summit with NIC, VPCA, and BCG.
- Company typePrivate
- Founded2019
- HeadquartersHo Chi Minh City, Vietnam
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Do Ventures does
Do Ventures is an early-stage venture capital firm headquartered in Ho Chi Minh City, Vietnam, investing in technology startups in Vietnam and Southeast Asia, primarily at pre-Series A and Series A stages. Founded in 2019, the firm is led by co-founders and General Partners Vy Le and Dzung Nguyen. In 2021 it launched its first fund, Do Ventures Fund I, with a US$50 million target, anchored by institutional limited partners including Korean internet company Naver, regional technology group Sea (parent of Garena and Shopee), Singapore-based Vertex Holdings, and Korean app developer Woowa Brothers. In May 2026, the firm launched Do Ventures Fund II with a thematic focus on climate innovation, securing up to US$10 million from Australian Development Investments (ADI), the Australian Government's impact investment vehicle. Fund II targets Vietnamese SMEs in clean manufacturing, sustainable consumption, and AI-driven climate solutions. Reported portfolio activity between 2021 and 2023 spans at least 14 investments across fintech (MFast, Bizzi, Advance), retail and e-commerce (Palexy, Cooky, Coolmate, Selly, OpenCommerce), education (Manabie, VUIHOC, Azota), and AI/SaaS (FlexOS).
Do Ventures does not develop proprietary technology products. Its offering stack is built on three pillars: (i) two investment funds under management, (ii) annual ecosystem research co-published with Vietnam's National Innovation Centre (NIC) and, from 2025, with Vietnam Private Capital Agency (VPCA) and Boston Consulting Group (BCG), and (iii) the annual Vietnam Innovation & Private Capital Summit (VIPC Summit) co-organized with NIC and VPCA. The firm explicitly positions itself as providing "data-driven portfolio support" alongside capital, covering strategic guidance, product development, supply-chain optimization, overseas expansion, talent recruitment, and organizational design for portfolio companies.
The firm's revenue model follows standard venture capital mechanics: management fees on assets under management across Fund I and Fund II, plus carried interest on successful portfolio exits. There is no fee disclosure at the firm level. Distribution is direct investment into portfolio companies, with deal-flow sourced through the firm's online pitch portal, referrals, and the convening platform provided by the VIPC Summit. Geographic footprint is concentrated in Vietnam, with selective Southeast Asia deployments (notably the Philippines via Advance) and cross-border LP relationships extending to Korea (Naver, Woowa Brothers, Nextrans), Singapore (Vertex Holdings), and Australia (ADI).
Do Ventures firmographics
Firmographics- Name
- Do Ventures
- Legal name
- Do Ventures
- Website
- https://doventures.vc
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Do Ventures is a Ho Chi Minh City-based early-stage venture capital firm deploying capital into Vietnamese and Southeast Asian technology startups through a US$50M Fund I and a climate-focused Fund II, while co-publishing the annual Vietnam Innovation & Private Capital Report and co-organizing the VIPC Summit with NIC, VPCA, and BCG.
- Ownership category
- akta.pro rank
Do Ventures industry classification
Industry- Product category
- Venture Capital
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industry
- Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)
Keywords
Where Do Ventures is headquartered
LocationHeadquarters
- HQ city
- Ho Chi Minh City
- HQ country
- Vietnam
- HQ region
- Asia
Offices1 record
Markets served
Do Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others, Technology or R&D
Revenue model
- Venture Capital Management: Do Ventures generates revenue through management fees charged on funds under management and carried interest (carry) from successful portfolio exits. Fund I was a $50M early-stage VC fund.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Do Ventures product offering
Product offeringCore offering
Do Ventures is an early-stage venture capital firm that invests in technology startups in Vietnam and Southeast Asia through its two investment funds. Fund I is a $50 million early-stage VC fund targeting pre-Series A Vietnamese startups, while Fund II focuses on climate innovation and SMEs in Vietnam's energy transition. The firm provides capital combined with hands-on portfolio support including strategic guidance, product development, supply chain optimization, and overseas expansion strategy.
Product overview
Do Ventures operates as an early-stage venture capital firm in Vietnam and Southeast Asia, offering two primary investment funds (Fund I at $50M and Fund II for climate-focused investments), complemented by annual research publications including the Vietnam Innovation & Private Capital Report and Vietnam Innovation & Tech Investment Report series. The firm also organizes the Vietnam Innovation & Private Capital Summit as a platform for ecosystem development, providing startup funding, portfolio support, and strategic guidance to early-stage companies across consumer, SME digitalization, artificial intelligence, and climate & sustainability sectors.
Differentiator
Problem solved
Functional benefit
Brands
- Do Ventures Fund I: The firm's first venture capital fund targeting early-stage Vietnamese startups, launched in 2021 with a $50M target.
- Do Ventures Fund II
Products and services
- Do Ventures Fund I A $50 million early-stage venture capital fund serving as a strategic partner for Vietnamese technology startups, seeking investment opportunities in startups developing meaningful products and services improving consumer lives in Vietnam and Southeast Asia. Targets pre-Series A companies with outstanding execution capabilities.
- Do Ventures Fund II Climate-focused investment fund supporting early and growth-stage SMEs advancing Vietnam's energy transition and climate adaptation across sectors including advanced manufacturing, sustainable consumption, and AI-enabled climate solutions. Australian Development Investments committed up to US$10 million to this fund.
Quantifiable outcome
- Annual Vietnam Innovation & Tech Investment Reports co-published with NIC since 2020, providing market intelligence and positioning the firm as a thought leader in Vietnam's startup ecosystem
Companies that use Do Ventures
Customer profileSegments2 records
Ideal customer profiles2 records
Do Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Do Ventures partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- National Innovation Centre (NIC)coreVietnam National Innovation Centre (NIC), a unit of the Ministry of Planning and Investment, co-organizes the annual Vietnam Innovation and Private Capital Summit (VIPC Summit) with Do Ventures and Vietnam Private Capital Agency. NIC and Do Ventures have co-published the annual Vietnam Innovation & Tech Investment Report since 2020, establishing the most comprehensive research on Vietnam's startup ecosystem.
- Vietnam Private Capital Agency (VPCA)coreVietnam Private Capital Agency co-organizes the Vietnam Innovation and Private Capital Summit (VIPC Summit) 2026 with NIC and Do Ventures. VPCA represents the private capital industry in Vietnam and aims to drive $35 billion in private investments by 2035.
- Boston Consulting Group (BCG)coreBoston Consulting Group co-conducted the Vietnam Innovation & Private Capital Report 2026 with NIC, VPCA, and Do Ventures, providing strategic analysis for Vietnam's innovation investment market.
Scale indicators3 records
Recent moves8 records
Expansion highlights5 records
Do Ventures competitors and assessment
Company assessmentDirect peers
- Saison Capital: Early-stage VC arm of Credit Saison operating across SEA including Vietnam. Comparable in stage and geography, focused on fintech and consumer — sectors that overlap with Do Ventures' portfolio (e.g., MFast).
- Qualgro: Singapore-based early-stage VC investing across SEA at Series A and earlier, with active Vietnam exposure (e.g., co-invested with Do Ventures in Bizzi). Closely comparable in stage and sector focus.
- Wavemaker Partners: Early-stage VC investing across SEA and the US, with active deal participation in Vietnam (e.g., co-invested with Do Ventures in MFast's Series A). Comparable stage, regional focus, and dollar check sizes to Do Ventures.
- Vickers Venture Partners: Singapore-headquartered early/growth-stage VC with deep Vietnam presence. Comparable in pan-SEA exposure and stage, though typically writing larger checks and operating at later stages than Do Ventures.
- Openspace Ventures: Singapore-based early-stage VC investing across SEA including Vietnam. Directly comparable in stage, check size, and pan-SEA thesis, and frequently appears as a co-investor or competitor in Vietnamese rounds.
- Genesia Ventures: Japan and SEA-focused early-stage VC investing in Vietnam (co-invested with Do Ventures in Selly). Directly comparable in early-stage, regional focus, with similar check sizes in Vietnamese tech startups.
- Monk's Hill Ventures: Singapore-headquartered early-stage VC actively investing in Vietnam and across Southeast Asia at pre-seed/seed/Series A. Directly comparable in stage, geography, and sector focus to Do Ventures, often co-investing in the same Vietnamese startups.
- Vulpes Investment Management / Vulpes Ventures: SEA-focused early-stage investor (Vulpes Ventures) that has co-invested with Do Ventures in Vietnamese rounds (e.g., VUIHOC bridge, FlexOS). Directly comparable in stage, geography, and climate/digital focus.
Broad incumbents
- Jungle Ventures: One of Southeast Asia's largest early-growth VCs with active exposure to Vietnam. Comparable in Vietnam/SEA focus but operates at a meaningfully larger fund size and later stage, serving as both a competitor for Series A deals and a follow-on capital source for Do Ventures' portfolio.
- 500 Global (formerly 500 Startups): Global early-stage VC with a long-standing Southeast Asia presence and Vietnam-focused programs. Competes for pre-seed and seed deals in Vietnam and offers similar accelerator-style portfolio support.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Do Ventures social profiles
Digital presenceDo Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Do Ventures leadership team
Management profileNumber of profiles
Profiles2 records
Do Ventures funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Do Ventures M&A and investment
M&A and investmentM&A
Investments32 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Do Ventures
What does Do Ventures do?
Do Ventures is an early-stage venture capital firm that invests in technology startups in Vietnam and Southeast Asia through its two investment funds. Fund I is a $50 million early-stage VC fund targeting pre-Series A Vietnamese startups, while Fund II focuses on climate innovation and SMEs in Vietnam's energy transition. The firm provides capital combined with hands-on portfolio support including strategic guidance, product development, supply chain optimization, and overseas expansion strategy.
Is Do Ventures a public or private company?
Do Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Do Ventures founded?
Do Ventures was founded in 2019. It employs 11 to 50 people.
Where is Do Ventures based?
Do Ventures is headquartered in Ho Chi Minh City, Vietnam, in the Asia region.
How does Do Ventures make money?
One revenue line is on record: venture Capital Management.
Who are Do Ventures's main competitors?
Direct peers on record are Saison Capital, Qualgro, Wavemaker Partners, Vickers Venture Partners, Openspace Ventures, Genesia Ventures, Monk's Hill Ventures and Vulpes Investment Management / Vulpes Ventures. Broad incumbents are Jungle Ventures and 500 Global (formerly 500 Startups).
Does Do Ventures have an API?
No public API is recorded for Do Ventures.
What industry is Do Ventures in?
Do Ventures's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 525 and its SIC code is 6282.