Hanoi University of Science and Technology’s BK Fund has partnered ThinkZone for a $10m fund that will invest in domestic startups.
Hanoi University of Science and Technology’s venture fund BK Fund has joined forces with early-stage accelerator ThinkZone to raise a $10m vehicle, according to DealStreetAsia.
BK Fund 1 will invest up to $1m in Vietnam-based startups. It follows the creation of BK Fund, set up with donations from alumni and former staff of Hanoi University to invest in university startups and spinouts.
ThinkZone will be responsible for identifying and appraising potential investees and introduce them to BK Fund’s investment committee. Startups may then receive capital from BK Fund, ThinkZone or individual investors within the BK Fund team.
The portfolio companies will also be invited to join ThinkZone’s accelerator programme, with includes training and support worth up to more than $50,000.
ThinkZone is separately also raising a $30m fund that will invest in seed and pre-series A-stage companies operating in the logistics, supply chain, medtech, fintech, edtech, agtech, proptech and artificial intelligence sectors.