Genesia Ventures is an early-stage venture capital firm operating in Japan and Southeast Asia, with a strong belief in the long-term potential of Vietnam’s digital economy. Beyond providing capital, the fund actively supports startups through strategic guidance and connections to a broader regional network.
With the goal of offering a well-rounded view of the stories shaping Vietnam’s startup landscape, Genesia Ventures' weekly roundup helps you stay on top of key developments — from standout figures and major investments to new policies driving change — along with concise insights on why they matter.
Whether you're a founder, an investor, or simply curious about Vietnam’s evolving tech scene, here are the top 5 highlights from the past week that you shouldn’t miss!
Blockchain Investment
SSI Digital Ventures, the investment arm of SSI Asset Management, has backed U2U Network, a layer-1 blockchain project focused on DePIN (Decentralized Physical Infrastructure Networks).
U2U is building technology to connect real-worldinfrastructure—like sensors or telecom networks—to decentralized systems, a space gaining attention for its long-term potential.
This deal is part of SSI’s $200 million innovation fund launched in early 2025, aimed at investing in blockchain and AI startups in key sectors like finance, healthcare, education, and agriculture. While the exact amount wasn’t shared, SSI typically invests between $50,000 and $5 million per deal and plans to grow the fund to $500 million.
With recent partnerships with Tether and AWS, SSI is positioning itself as a driver of Vietnam’s digital future. The investment in U2U highlights Vietnam’s growing role as a hotspot for early-stage tech innovation - especially in blockchain infrastructure and digital transformation.
First Law on Digital Technology Industry
Vietnam has become the first country in the world to pass a dedicated Law on Digital Technology Industry, approved on June 14, 2025.
The law offers tax breaks, financial support, and streamlined procedures for large tech investments, while prioritizing infrastructure like data centers, tech parks, and 5G networks. It also supports international expansion and partnerships for Vietnamese firms.
By 2035, the government aims to foster 150,000 digital tech companies, boost R&D, train skilled talent, and focus on key technologies like AI, blockchain, and big data—making this law a major leap for Vietnam’s digital future.
NIC – Google Partnership Powers Vietnam’s Innovation
The National Innovation Center (NIC) and Google have expanded their partnership with new programs like AI Bootcamp 2025 and Solution Lab 2025, supporting 150 startups and launching Vietnamese-language AI courses.
Since 2022, 500+ startups have joined Google’s programs, with ~100 receiving direct support, reaching 300,000+ users and creating 300+ jobs. Google estimates that AI could contribute 12% of Vietnam’s GDP by 2030, equivalent to $79.3 billion.
This partnership signals strong government-industry alignment, positioning Vietnam as a fast-emerging hub for AI and digital innovation.
Vietnam Launches First Fintech Sandbox in July 2025
The State Bank of Vietnam will officially roll out the country’s first fintech sandbox, allowing selected companies to test new banking solutions in a controlled environment. Eligible participants include licensed credit institutions and fintechs legally operating in Vietnam.
Approved use cases include credit scoring for the underbanked, secure data sharing via open APIs, and peer-to-peer lending in VND. Other areas like crypto and insurtech are excluded for now. Testing can last up to two years, with strict rules—especially for P2P platforms, which must be led by experienced Vietnamese executives and operate within licensed financial channels.
While cautious in scope, the sandbox marks a big step in supporting responsible fintech innovation and sets the stage for deeper integration of digital finance in Vietnam’s economy.
Vietnam’s Tax Reform Opens Door for SaaS Startups
Starting June 1, 2025, small businesses earning over 1 billion VND/year (~$40,000) must issue e-invoices via certified POS systems. This move aims to formalize Vietnam’s large informal sector but has caused challenges due to cost, compliance burdens, and digital illiteracy.
For SaaS providers like SoBanHang, Sapo, KiotViet, and MISA, this creates a major opportunity to offer e-invoicing and tax solutions to a newly digitizing market. However, success depends on affordability, trust, and deep local understanding.
While early adoption may be tough, experts see long-term gains in transparency, financial access, and digital inclusion. The shift is both a regulatory change and a launchpad for SaaS growth in Vietnam.