Operating Advisory Firm For Vietnam's digital economy founders
Ho Chi Minh City · Hanoi Accepting engagements — 2026

Dong.vc

§ OPERATING ADVISORY

An Operating Advisory Firm for Vietnam's digital economy founders.

Diagnose at the governance layer with Đông Rùa Theory. Accelerated by AI. Delivered by operators who are still operating.

20+
Years operating
& investing
100+
Deals through VIC
& angel portfolio
50+
Deep diagnostics
in 2024–2025
15
Max active clients
at any time
Dong.vcCoolmateFuntapEcomobiVIC PartnersMoore Dong.vcCoolmateFuntapEcomobiVIC PartnersMoore
§ 01 / Positioning
We don't treat symptoms. We don't come with slides. We come with questions — and we stay until the results show up.

Dong.vc diagnoses problems at the governance layer using Đông Rùa Theory — a framework developed across two decades of building and investing. AI accelerates our diagnosis. But the framework is ours, not borrowed.

We're not consultants. We're operators — we built Coolmate, Funtap, Ecomobi, Moore; we're still operating and investing today; we've paid the price to know what we know.

§ 02 / Values

Four core values

01

Skin in the Game First

We don't advise on what we haven't done or haven't invested in. Every engagement starts with: do we actually have the authority to advise on this? If no, we refer.

02

Diagnosis Before Prescription

No advice gets given before we understand the root cause. We invest unbilled diagnostic time to make sure we're solving the right problem. Solving the wrong problem costs you more than it costs us.

03

Engagement Charter, Always

Every engagement begins with a Charter: the problem, success criteria in numbers, timeline, and exit gates at specific milestones. No one gets trapped.

04

Ecosystem Over Ego

Dong.vc doesn't try to do everything. AI, legal, finance, HR — vetted specialist partners are pulled in when an engagement needs them.

Layer 1 · DuPont ROE
Layer 2 · External Force
Layer 3 · Resilience
S-ROE*
§ 03 / Proprietary Framework

Đông Rùa Theory

An extension of DuPont — with an External Force Index and a Resilience Factor — producing the composite metric we call S-ROE*.

Two companies with the same ROE but different EF and RF — their sustainability is very different.

Explore the framework
§ 04 / Track Record

Built and invested

012026
Dong.vc
The firm built to turn two decades of pattern recognition into a proprietary diagnostic method.
Founder · Principal
02D2C · VIETNAM
Coolmate
Walked alongside from day one to becoming Vietnam's national D2C brand.
Founding Member · Investor · Senior Advisor for BOD
03SEA · 4 MARKETS
Ecomobi
Scaled across four Southeast Asian markets. Still a senior advisor to the Board today.
Co-founder · Senior Advisor
04M&A · ECOSYSTEM
Funtap
Corporate development driving M&A and strategic partnerships across an entire ecosystem.
Head of Corporate Development - Investment Director
05100+ DEALS
VIC Partners
Weekly investment decisions. Over 100 deals reviewed. Pattern recognition refreshed with real money.
Co-General Partner
062007 — 2016
Moore
Built from zero into one of Vietnam's pioneering performance media agencies.
Co-founder · Builder
§ 05 / Scope

Where we operate

Vietnam's digital economy — and the O2O models where digital and physical converge. Across these verticals, we help founders diagnose what's actually breaking and design interventions that compound.

01
D2C
02
Ecommerce
03
SaaS
04
Media-first
05
Ecom Enabler
06
Game & App
07
Consumer Product
08
O2O / Retail
§ 06 / WORK WITH US

Most of what you think
is your problem
isn't.

We come with questions — and we stay until you have the right answers.

Request a diagnostic Try the self-diagnostic How we work