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On April 17, the Ho Chi Minh City Venture Investment Fund JSC officially launched with an initial charter capital of 500 billion dong. The fund is designed to support the next phase of economic growth by backing innovation in science and technology and advanced industries, and it is the first state-initiated venture fund intended to mobilize additional capital from domestic and international investors.
Ho Chi Minh City will contribute 40% of the charter capital. The remaining portion will be mobilized from founding shareholders, including VinaCapital, Sovico, Vingroup, Becamex, Sunwah, VNG (Vinagame), FPT, CT Group, and Hoa Sen.
VinaCapital is a founding shareholder. Hoang Duc Trung, CEO of VinaCapital’s Technology Investment Fund, was appointed as director of the newly launched fund.
At the launch ceremony, Hoang Duc Trung said the fund will act as “seed capital” for the market, directing investment into strategic sectors that require long development cycles. He added that the fund will focus on Series A and B rounds, which are described as critical stages for Vietnamese startups to scale and accelerate growth.
Mr. Trung said the fund will prioritize core technology, green solutions, and digital transformation. This focus is aligned with the city’s goals for the 2025–2030 period and with the spirit of Resolution 57-NQ/TW on breakthroughs in science, technology, innovation, and digital transformation at the national level.
Mr. Trung emphasized that the fund will serve as a “launchpad” for Ho Chi Minh City’s ambition to become a regional technology hub, adding: “I believe that in the future, when discussing the successes of Vietnamese startups, the mark of the Ho Chi Minh City Venture Investment Fund will be a key enabler.”
Don Lam, CEO and founding shareholder of VinaCapital, said the initiative is an important step toward closing the funding gap for Vietnamese startups while promoting an innovation-driven growth model. He also stated that, beyond capital, VinaCapital will bring investment experience, connect international capital, and operate the fund to international standards.
Mr. Lam said VinaCapital is honored to collaborate with Ho Chi Minh City and leading private-sector partners to build a professional technology investment platform supporting a dynamic and sustainable startup ecosystem in the city.
VinaCapital began investing in technology in 2006 through the DFJ VinaCapital fund in partnership with Draper Fisher Jurvetson. It later founded VinaCapital Ventures in 2018, with investments from Mirae Asset and Naver.
VinaCapital is currently raising capital for its third technology fund, which focuses on providing growth capital to Vietnamese startups and high-potential regions in the area.
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