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The founding shareholders of this venture capital fund are a string of private corporations and leading financial institutions, but the largest contributor is the People’s Committee of Ho Chi Minh City. On April 17, the Ho Chi Minh City Venture Investment Fund Joint Stock Company (HCM VIF) officially launched with an initial charter capital of 500 billion VND. The city budget contributed 40%, equivalent to 200 billion VND; the remaining 300 billion was the initial contribution from private investors, businesses, and leading financial institutions. Sovico contributed 100 billion VND, Vingroup 60 billion, Becamex 50 billion, VinaCapital 25 billion, Sunwah Group 25 billion. VNG, FPT, CT Group, Hoa Sen... each contributed 10 billion. Mr. Hoang Duc Trung – Deputy CEO of the VinaCapital Technology Investment Fund – was appointed as CEO of HCM VIF. HCM VIF aims to spur the next growth phase of the economy by supporting innovation activities in science and technology and advanced industries. This is also the first time a state-initiated venture fund designed to mobilize additional capital from domestic and foreign investors. Under the plan through 2035, Ho Chi Minh City aims to raise the fund’s charter capital to at least 5,000 billion VND. Of which, state budget 2,000 billion; private investors account for 60%, totaling 3,000 billion. HCM VIF expects to invest in 50-150 startup and high-tech companies in the 2026-2035 period; support the commercialization of at least 50 products/technologies, and incubate at least 5 large technology companies with the potential for IPO or M&A. Speaking at the launch ceremony, Mr. Trung said HCM VIF will serve as a 'seed' capital for the market, proactively directing capital to sectors with strategic importance that require long lead times. The fund’s focus will be on Series A and B rounds – the key stages for Vietnamese startups to scale and accelerate development. According to Mr. Trung, the fund will prioritize core technology investments, together with green solutions and substantial digital transformation, in line with the vision of the City’s Party Committee for the 2025-2030 term and the spirit of Resolution 57-NQ/TW on breakthroughs in science, technology, innovation and national digital transformation. 'The fund will be a launching pad to realize the aspiration to make Ho Chi Minh City a leading technology hub in the region. I believe that in the future, when we discuss the success of Vietnam's notable startups, the imprint of the Ho Chi Minh City Venture Investment Fund will stand out as a key co-supporter,' Mr. Trung emphasized. Don Lam – CEO and founding shareholder of VinaCapital – said the initiative is an important step to narrow the funding gap for Vietnamese startups and accelerate the transition to an innovation-based growth model. Beyond capital commitments, the VinaCapital team will bring decades of investment experience, connect international capital and ensure the fund operates under international standards. 'TWe are honored to partner with Ho Chi Minh City and leading private-sector partners to build a professional technology investment platform that contributes to a dynamic and sustainable startup ecosystem in the city,' Mr. Don Lam affirmed.
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