Mr. Dzung Nguyen left CyberAgent Capital and set up a venture capital fund with Le Hoang Uyen Vy
admin 8-09-2020, 23:56

Do Ventures has just launched the startup community and announced the end of the first round of fundraising of Do Ventures Fund I. The newly launched investment fund has two famous names in the startup world: Nguyen Manh Dzung (Shark Dzung ) and Le Hoang Uyen Vy. They left their old roles at CyberAgent Capital and ESP Capital to start a new journey.

Mr. Nguyen Manh Dzung is one of the most pioneering and successful venture capital investors in Vietnam as the Director of the Japanese venture capital fund CyberAgent Capital. He has sponsored and accompanied the founders from the early days to build many famous technology startups in Vietnam with multi-million dollar valuations, including many famous names such as,,, CleverAds,,, Jupviec, Topica, Sapo (DKT), Luxstay

His co-founder, Ms. Le Hoang Uyen Vy, started a business at the age of 13 and has over 10 years of experience in e-commerce. Ms. Vy is also recognized for her remarkable track record in running a large-scale startup with a turnover of several hundred million US dollars. In addition to her solid operating experience, she is also known as an active investor in the early stage technology startup community in Vietnam, investing in 15 companies during the period of operating ESP Capital and angel investment including many familiar startups such as, Ecomobi, MindX, Homedy, Elsa.

Fund Do Ventures Fund I with a total management fund of 50 million USD, of which the fund has more than 50% of the target amount in the first round of funding. This capital comes from the founders of leading technology companies in Vietnam and famous investment organizations from Korea and Singapore such as NAVER, Sea, Vertex Holdings, Woowa Brothers.

With the philosophy of “Growing by Doing”, Do Ventures believes that in order for a startup to grow quickly and stay ahead of the pack, founders need to have real ability excelling at exams, and having to be willing to do more, so there will be more opportunities to find the right recipe against the opponent.

In addition, Do Ventures commits to be a pioneer in investing in breakthrough fields to create new consumer trends for the Vietnamese market. This is reflected in the fund’s unique venture building capacity (the model of investors participating in building businesses from the beginning).

Mr. Dzung Nguyen left CyberAgent Capital and set up a venture capital fund with Le Hoang Uyen Vy

Ms. Le Hoang Uyen Vy and Mr. Dzung Nguyen.

In relatively new industries, instead of opting for top performers to invest in, Do Ventures seeks out talented founders and helps them create new, business models, having the ability to deal with the urgent needs of the market. In this way, Do Ventures wants to contribute to nurturing the next generation of talented founders who dare to “stir” the market.

In terms of investment method, Do Ventures develops a method of investing throughout many stages from Seed Round to Round B, in which the total investment for a company can be up to 5 million USD. As the first step, the fund will lead a Seed round with an average investment of $ 500,000.

After the first round, securing the next round of fundraising for the company in the portfolio is crucial, so that they have sufficient resources for scaling. So, Do Ventures will continue to invest in Series A and Series B fundraising with well-growing startups. In the next rounds, the fund will invite other reputable investors to contribute capital to increase resources for the invested company.

“The Vietnamese consumer market is at a tipping point, and is poised for tech companies to launch innovative products. We are passionate about the opportunity to drive economic growth in the country at this critical moment, “said Manh Dzung, co-founder of Do Ventures.

“I am very excited to start a new journey with Mr. Dung, one of the top venture capital investors in Vietnam and make a strong boost to the domestic startup ecosystem,” said Ms. Vy, co-founder Do Ventures, share.

Source: – Translated by