CEO 9X Han Ngoc Tuan Linh: “In 10 years, my company will invest in a startup that wants to make a global impact”

VSV Capital is currently an investment fund of more than 70 projects, with a total asset value of about US $ 7 million, by Han Ngoc Tuan Linh (SN 1990) as Co-founder and CEO.

What do you think of Forbes Asia’s top 30 under 30 title I just received?

CEO Tuan Linh : In early April, when people texted congratulations, I was surprised because I didn’t think I would make this list. To me, being in the top 30 Under 30 in Asia is just a fluke, because I am also doing everyday work like everyone. Perhaps, because the job – venture capital – is still new and has not yet thrived in Vietnam, I get more attention.

If at present, venture capital has not developed strongly in Vietnam, why, from 6 years ago, did you choose this path?

CEO Tuan Linh : After 2 years working at a local bank, I learned a lot of things and found the project management job very interesting. At that time, the Ministry of Science and Technology, in collaboration with my family’s company, implemented a government consultancy project on building a startup ecosystem in Vietnam.

I decided to quit my job at the bank to join the project management. During this time, I realized that in Vietnam, it is very difficult to find people who really understand startup and are willing to risk investing for them. I think, I can’t expect to do it myself, build a venture capital fund, let others see a precedent. In 2014, our company was officially transformed into a startup investment company, and I play the role of managing this investment fund.

Until now, after 6 years of looking back, which startup has you come to terms with, is still an excellent project you’ve invested in?

CEO Tuan Linh : I think it is Lozi. This is a very impressive project in the first year, because the five Lozi founding members were all born in 1992. In 2014, they dropped out of university for 1 year to work together, before coming to VSV.

The day Trung (Nguyen Hoang Trung – Founder & CEO Lozi – PV) gave a presentation about the company before VSV, their website went down. At that time, Trung turned to ask his partner: ” Is it because we ran out of server rentals? “. After that, everyone was surprised to know the real reason that their website was not accessible due to the overload of users.

5 young people with empty hands, even renting a server is not enough, in just 6 months, built a website with such a large number of users (about 600,000 people / month, 2014). , so VSV decided to invest in Lozi.

I still remember, the end of the training course between investors and startups (about 6 months), VSV held the first Demo Day in the hall of the Ministry of Science and Technology. Trung surprised Uncle Nguyen Quan – Minister of Science and Technology at that time to be surprised by the feature based on the time of day and “biography” of customers, to make food and restaurant suggestions very accurately.

Under the hall, Deputy Minister of Planning and Investment at that time, Mr. Dang Huy Dong was also very excited. The success of Lozi and other startups is a testament to the project of the Ministry of Science and Technology, which was implemented from 2013 to mid-2014, with the first results. And the practical result in society is, VSV has been able to help startups grow and attract investors.

From here, MPI understands more about startups and venture capital funds in Vietnam, since then, it has joined hands with the Ministry of Science and Technology to further research the legal framework, help support startups and investment funds. Venture capitalists in the country.

In the successful projects of VSV, how do you play, because many people already know that this company was founded by his mother?

CEO Tuan Linh: In VSV, there is an area of ​​research and consultancy for the Government, this part is undertaken by my mother.

Initially, I joined VSV as a project management consultant for the Government. But later, from 2014 until now, when VSV established an investment fund, I am responsible for raising capital, selecting startups to invest, holding the position of CEO of the company. Currently, my work and my mother are very independent.

So what do you think about the nickname “the rich man” and a few comments that the way he will go will be flatter than everyone thanks to the help from his father – Mr. Han Ngoc Vu (CEO of VIB). ?

CEO Tuan Linh: I think such comments are difficult to avoid, so I don’t really mind.

Ever since I was little, my dad was sometimes the Chairman of the Board of Directors and sometimes the CEO of the bank. From the outside, many people also said that the wife or son of the President or CEO of the bank would have a very easy life thanks to the strong financial relationship and resources from my father.

In fact, whether the President or CEO of a bank, by nature, is still just a salaryman. My family can be said to be better-off than many other families, but if we want to carry out a big task with the state, help build a venture capital market and startup ecosystem in Vietnam, No matter how talented my parents or I may be, I can’t do it.

It depends on many factors: the capacity of those who perform the work, the efforts of many people, many families and resources, the support of the state …

Have you ever thought that if you were not born in a family with such a good foundation, would you be as successful as now?

CEO Tuan Linh : I used to ask myself the same question. But later, I didn’t think about that anymore. I think that everyone born in different circumstances has their own advantages and disadvantages. Good family conditions do not mean everything is favorable.

So specifically, with the condition of your family, what advantages and disadvantages do you find yourself?

CEO Tuan Linh: I think my parents have quite different ways of education, at least compared to the family and friends I know. Since I was in elementary school, my parents always repeated a saying: ” Parents work, will try to do their job well so that their boss’s boss will not call to tell their children that their parents have not done well. On the other hand, if I go to school, I will try, so that my teachers do not call and tell my parents, my child’s performance at school is not good, bothersome and affect parents. “.

From school to college, I was never the best or best student in the class. But my parents never bothered about it and very focused on teaching me skills to handle social situations, through their problems and reality. Since I was growing up, I grew up with such stories from my parents, so it felt like I knew a lot about situations that were happening in society and how to handle them.

But my father is also a very serious, careful and strict person in managing money with his children. When I was 17 years old, when I went to study abroad, he went to England and stayed with me for a month. My father calculated all the expenses (school fee, rent, self-made food) and showed me £ 100 of other expenses.

If I didn’t cook by myself to bring to school at noon, I would only have those £ 100 to eat out. It taught me to manage my personal finances very well and was able to survive in more difficult conditions, like most young people.

What about your mother, how did a senior government consultant affect you?

CEO Tuan Linh : Mom is more willing to take risks than dad. She often advised me that if you want something, you must take it proactively, or you also have to take risks, trade something to get.

This sounds very theoretical and sometimes, we still have situations that we also think are not feasible, but when working with my mother, I understand that whatever I want to do is can do it. The most important thing to note is do not do anything, which can have irreparable consequences.

In your opinion, what are the interesting points of venture capital investment?

CEO Tuan Linh : When investing in venture capital, I always understood that 1-2% of successful companies were praiseworthy, but each time, one of the other 99% had to stop, I thought a lot. . I often wonder, why have I decided to invest in that company before, what kind of potential I saw from them, what else could I do to help them succeed?

Venture capital investment, of course, is risky, but it is also an opportunity for investors to learn many things in a very fast time. Before success is a failure that failure companies will fail very quickly, while to succeed, it takes 6-8 years to see results.

For me personally, when I moved from being a banker to project manager, then venturing into venture capital, my responsibilities became bigger and bigger. As the CEO of VSV Capital, I am the one who has to make decisions, but the ability to make wrong decisions is increasing because there will always be risks.

Venture capital funds call for capital from other investors. The story of bringing other people’s money to invest is also very pressure. But I find it very interesting work. I learned to be assertive and how to think: nothing is impossible.

What do you think about the 20% of successful startup investments by VSV?

CEO Tuan Linh : I think that is a very good number, compared to other countries. Because in our country, the venture capital industry has not really developed to have enough comparable data.

But this number, in fact, has the potential to be a lot better, because startups in Vietnam are very disadvantaged. Startup needs capital, so whether it can grow or not will depend heavily on the country’s venture capital market. Meanwhile in Vietnam, there has not really been a venture capital market.

So, you expect, in the next 10 years, how will VSV Capital contribute to the venture capital market in Vietnam?

CEO Tuan Linh: I expect, in 10 years, VSV Capital will become an organization for those who want to build a new business that can make a great impact on Vietnamese society as well as globally. Such people, they can go to VSV Capital and raise capital.

If VSV Capital succeeds, it will create evidence in Vietnam, venture capital will become a profession and this will be a potential market, everyone can jump in and do together, create value and become rich. have.

Vietnam is growing in the top 10 of the world and we deserve a more potential investment market, which not only attracts more capital but also domestic venture capital funds. developing, helping many startups succeed, making great contributions to society.

Thank you for this conversation!