Triet Nguyen: Navigating the World of Tech Investing and Pioneering in Venture Capital
I had the pleasure of interviewing Triet Nguyen (pronounced like Trent but without the N), Senior Associate at Render Capital. He brings a diverse background and extensive experience to the team. Born in Vietnam and raised in Texas, he recently relocated to Louisville, Kentucky, upon joining Render Capital earlier this year.
Triet’s journey in the world of investing began as a self-taught retail trader, a path he pursued to support his college education. After exploring multiple majors and universities, he ultimately earned a Bachelor of Science in Marketing with a specialization in market research from the University of Texas in Dallas.
Initially aspiring to work in the events industry to organize music festivals, Triet gained valuable experience at non-profit organizations like The Dallas Entrepreneur Center and later at Capital Factory, a Texas-based accelerator fund. It was during his tenure at Capital Factory that Triet discovered his passion for startups and venture capital, eventually leading him into the world of venture capital.
During the COVID-19 pandemic, Triet co-founded Cheese Plug, an on-demand charcuterie board delivery service, applying lessons learned from the tech space to enhance convenience and affordability in the catering business. He then transitioned to MicroVentures as a Venture Deal Flow Associate before joining Render Capital in March 2023.
Triet has a wealth of experience in portfolio support, angel investing, venture scout networks, advising emerging funds and startups, and has also been a founder himself. In his leisure time, he enjoys reading, distance running, golf, and actively participates in volunteering for Startup Weeks in emerging regions outside of major tech hubs.
How did you break into tech investing?
Breaking into venture capital has been a remarkable and challenging journey. My passion for startups and VC was ignited during my time at Capital Factory, where I sought guidance from a network of accomplished mentors. These mentors, comprising successful founders, angel investors, VCs, and LPs, provided invaluable insights for which I am deeply grateful.
I encountered candid discussions about my perceived disadvantages in this field. I lacked a formal education in Finance, Ivy League credentials, an MBA, substantial financial resources, and a well-established network. I had also not experienced a multimillion-dollar company exit. However, these challenges motivated me to develop a strategic plan to overcome them.
To expand my network, I made it a mission to meet every individual who entered Capital Factory’s doors. I also gained operational experience by venturing into entrepreneurship. Joining venture scout networks allowed me to build a track record, and I ventured into angel investing. Additionally, I enrolled in online courses to enhance my financial and technical knowledge.
One pivotal moment in my journey was when I approached the Dallas Venture Associate at Capital Factory at the time and she graciously agreed to assist me, leading to an informal apprenticeship of sorts. During this period, I would present interesting companies to Helena for feedback. When I didn’t have a company to present, we delved into VC terms, concepts, literature, and market insights. This collaborative effort continued for about a year, during which approximately 5–6 companies I introduced made it into the accelerator. This experience solidified my belief in my ability to excel in VC and served as a powerful motivator to persevere in this field.
What is it that excites you about investing?
What truly fuels my passion for investing is the enduring excitement I find even in the face of challenges. It’s the unwavering drive that sustains me during long, demanding hours, through periods of rejection where partners reject my deals and theories, and in those moments when I must convey to numerous founders that their ventures may not align with our vision. Even the occasional doubt, stemming from the knowledge that other, more seasoned VCs may hold opposing viewpoints, fails to dampen my enthusiasm.
What keeps me going is the hope that years down the line, as I sit in a park, perhaps a wizened old man, I might overhear young children admiring some technological innovation that has significantly improved people’s lives. I envision one of them saying, “Hardly anyone knows this, but years ago, when that founder conceived this idea, only a few individuals believed in their vision and invested in the company. It gives me hope that you only need a couple of believers to create a better world.” And the ultimate reward would be knowing that the company they’re discussing was one of my investments.
Moreover, as a generalist, I am invigorated by the opportunity to collaborate with individuals whose intellect far surpasses my own, tackling some of the world’s most intricate challenges across a multitude of industries. At its core, venture capital involves making educated bets. I find immense excitement in delving into the depths of research and learning about diverse industries, formulating theses about their markets, identifying startups that address these complex issues, joining them on their journey, and ultimately, assessing the accuracy of my educated bets when returns materialize — or when they don’t.
What has been your biggest challenge when it comes to finding the “right deals”?
My approach to navigating the uncertainties inherent in the world of venture capital, which aligns with the principles of infinite game theory often associated with VC, is rooted in inverse thinking. Rather than fixating on discovering the perfect deal, I focus on identifying and categorizing potential pitfalls and less promising opportunities.
A valuable lesson I’ve gleaned from my experienced partners is that missing out on what might be considered the “ideal deals” does not spell doom for a VC. Much like missing a bus, another opportunity is bound to arrive. The true challenge lies in making the wrong investment choices and remaining unaware of these missteps for an extended period because you are limited by the amount of capital you can deploy.
As a generalist in this field, I confront the significant challenge of sifting through an immense volume of data points obtained from the review of pitch decks and research reports. Time is often limited, necessitating efficient cross-examination to discern meaningful insights from noise. Collaborating with trusted specialists to refine my investment thesis is vital, all while being mindful not to inundate them with elementary questions.
What major trends do you expect to see in technology innovation over the next 5 years that excites you?
Recent developments in nuclear fusion and carbon capture technologies have been truly remarkable. I believe that nuclear energy and carbon capture are on an upward trajectory, and we may envision a future where structures like aircraft carriers and skyscrapers are equipped with carbon capture systems to mitigate carbon emissions from the atmosphere. These captured emissions could then be repurposed as coolants for mini nuclear reactors, potentially revolutionizing energy generation while benefiting the environment. Notably, Verdox’s carbon capturing process is particularly impressive in this regard.
Another area of keen interest for me is shared payment platforms catering to niche segments. This fascination arises from various social and cultural factors, including the younger generation’s preference for group travel, the need for community, challenges in bill splitting, and the general aversion to tracking and collecting funds within a group. Many of us have encountered situations where we front the bill for a group of friends, only to face difficulties in collecting reimbursements. So SupportPay (portfolio company) and Switch are 2 companies I’m bullish on.
Furthermore, there is a growing desire for community-driven initiatives, especially among younger generations and within corporations. However, there remains a notable gap.
How can our readers follow you on social media?
LinkedIn — https://www.linkedin.com/in/trietnguyen93/
Twitter/X — @TrietVC
TikTok — @ventriet
