NextTech Group to Become Startups' Soulmate Through the Launch of $10 Million Next100 Early-Stage Fund

HANOI, Vietnam, Aug. 12, 2019 /PRNewswire/ -- NextTech Group of Technopreneurs launched Next100 (www.next100.tech), a $10 million early-stage startup fund with a hybrid model of Venture Builder, Ecosystem and Venture Capital - the first of its kind in Vietnam. With the slogan "Startup Soulmate", Next100 aims to support Vietnamese founders in solving the trickiest hurdles during early startup stages to maximize success rate at optimal cost and time, as well as be the launchpad for aspiring founders to succeed locally and scale regionally.

Next100 is the investment arm of NextTech Group of Technopreneurs - a technology digitized-commerce ecosystem with nearly 20 years in operation. Having gone through every stage of a startup from "Zero to One" period in 2001 to scaling up to become a diversified multi-services ecosystem in 2009 and regionalization to Southeast Asia in 2014, NextTech Group has identified the three biggest hurdles that every startup will encounter:

• Inability to find the "Point of Impact": the right business strategy that is in line with startup's core capabilities, or a new niche blue-ocean market that is big enough, or the
  secret sauce for success in disrupting an existing market;
• Not having access to a synergistic ecosystem with a large customer base to quickly launch the product to mass market at minimized cost yet high efficiency;
• Shortage of funding: lack of money leading to postpone in market penetration and scaling.

NextTech announced the completion of investments in three startups at the launching ceremony of Next100

The unique proposition of Next100 lies in its hybrid model, a well-blended combination of a Venture Builder, an Ecosystem and a Venture Capital Fund. Specifically, Next100 will work side-by-side with startup founders to discover their "Point of Impact" and the formula for sustainable growth. Startups can also leverage NextTech's ecosystem of close to 20 platforms and 10+ million customers to quickly penetrate the market and expand to Southeast Asia region. Capital-wise, Next100's initial fund size is $10 million to fund $100K - $1M for each startups, with possibility for follow-on or support to call for next rounds of financing.

Next100's key criteria for potential investments are (1) founding team's core competencies with out-of-the-box creative mindset, (2) deep understanding of the chosen sector, and (3) a breakthrough and scalable business idea.

In celebration of its launching, Next100 also announced the completion of the most recent investments in Vietnam, including VayMuon.vn - Vietnam's premier P2P lending platform; HeyU - instant delivery-on-demand and concierge service platform; and Teky.edu.vn - Vietnam's first and largest technology chained academy for kids.

Media contact: Ms. Pham Ngoc Tram Anh, Group PR Manager, anhpnt@nexttech.asia

Photo - https://photos.prnasia.com/prnh/20190812/2549071-1?lang=0