No, not natively.
GDI+ has a thumbnailing function:
Private Declare Function GdipGetImageThumbnail Lib "GDIPlus" ( _
ByVal Image As Long, _
ByVal thumbWidth As Long, _
ByVal thumbHeight As Long, _
thumbImage As Long, _
ByVal callback As Long, _
ByVal callbackData As Long) As Long
but you'll need to do a bit of research to figure out how to use GDI+ from VB6 (a keyword search in this forum should find some of my examples - but they do not include thumbnailing)