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On November 3, Coolmate, a direct-to-consumer (D2C) fashion brand in Vietnam, announced the successful completion of its Series C funding round, led by Vertex Growth Fund and joined by Cool Japan Fund, YoungOne CVC, and existing investors Vertex Ventures SEA & India and Kairous Capital.
Vertex Growth Fund is a growth-stage venture capital fund backed by Vertex Holdings, a Temasek subsidiary; Cool Japan Fund is a government-backed Japanese investment fund; and YoungOne CVC is the corporate venture arm of Youngone, a global manufacturer of sports and outdoor apparel.
The participation of world-class investors and the continued support from existing shareholders is a strong vote of confidence in Coolmate’s execution capability and long-term commitment to sustainable growth, despite a highly dynamic investment landscape in Vietnam.
Founded in 2019 on a D2C business model, Coolmate has built an optimised technology-enabled local supply chain to deliver high-quality products at accessible prices with exceptional customer service. Over the past six years, more than 5 million orders have been delivered across Vietnam – demonstrating the true value that a young Vietnamese brand can create.
Looking ahead to 2026–2030, this Series C round will support Coolmate’s three strategic priorities: Go Women – Go Global – Go Offline. Under the Go Women strategy, the brand launched its women’s activewear line in March, tapping into one of the fastest-growing apparel categories in Vietnam. This move expands Coolmate beyond its original positioning as a men’s brand, aiming to become a performance lifestyle brand for all, with a target of generating 40 per cent of total revenue from Women Active by 2030.
In terms of Go Global, Coolmate made its debut on Amazon US this year with a sports sock product line that quickly reached Best Seller status, surpassing 25,000 orders per month within just a few months. This success lays the foundation for regional expansion across Southeast Asia and the goal of 30 per cent international revenue by 2030.
When it comes to Go Offline, Coolmate’s offline retail strategy enables customers to experience the essence of Vietnamese quality through purposeful design, functional performance and meticulous attention to detail. Offline retail will become a critical growth pillar, contributing 40 per cent of revenue by 2030.
Amid volatile startup conditions, Coolmate stays committed to real value creation through four strategic strengths: Vietnam-based supply chain excellence; capability in performance-driven product innovation; a dynamic and deeply engaged consumer brand; and a young, ambitious, Vietnamese talent team.
These pillars form Coolmate’s core competence and the reason global investors continue to stand behind the brand through multiple funding rounds.
"Coolmate was founded with a simple belief that Vietnam can create global-standard products, designed and produced with pride at home," said Pham Chi Nhu, CEO and founder of Coolmate. "This investment allows us to amplify that belief, expand to new markets, and keep building a brand that truly represents Vietnamese innovation."
According to James Lee, general partner of Vertex Growth Fund, "Coolmate exemplifies Vietnam’s new generation of consumer brands – digitally native, vertically integrated, and globally ambitious. The company’s disciplined execution and product innovation have set strong foundations for scale. We are proud to support its vision of becoming a top performance global lifestyle brand."
