ZUNZUNSTARTUPS
2025 marks a structural policy reset for Vietnam’s tech ecosystem. Through major directives such as Resolutions 57 and 68 and the enactment of the Law on Science, Technology and Innovation, Vietnam has formally repositioned innovation as a central pillar of national economic strategy. P/s: Special thanks to DealStreetAsia for featuring my perspectives on Resolution 68, and our structured bank–VC collaboration, exemplified by its strategic cooperation with OCB, expanding financing pathways for tech startups beyond pure equity.
Please kindly read the key takeaways from my sharing on the article below!
Resolution 68 is the single most strategy-shaping signal for investors.
According to Hoang Thi Kim Dzung, Vietnam Country Director at Genesia Ventures, the most impactful shift is the policy push for banks to lend based on data, cash flows, and value-chain fundamentals, while expanding acceptable collateral to include intangible assets, future-formed assets, and even unsecured lending where appropriate.
Cashflow becomes a “bankable soft asset.”
Dzung highlights that this policy directly sharpened Genesia’s investment focus toward startups with real cashflow engines and strong unit economics. Predictable cashflow is no longer just an operational metric—it becomes a financing lever, enabling access to non-dilutive credit and reducing over-dependence on continuous fundraising.
VC–bank partnership rails are emerging as a new growth infrastructure.
In response to this policy tailwind, Genesia Ventures Vietnam moved to build structured bank–VC collaboration, exemplified by its strategic cooperation with OCB, expanding financing pathways for tech startups beyond pure equity.
Implication for founders: Startups should no longer think only in terms of “raise the next round”; instead they should:
Design business models with clear, measurable, and predictable cashflows.
Build strong unit economics that can be credibly presented to banks.
Prepare data and reporting systems that make their operations “underwritable” for lenders.
In other words, financial discipline and data transparency become as important as growth in a post‑Resolution 68 environment.