Vietnam’s conglomerate Vingroup has launched a US$150 million VinVentures capital fund to invest in technology startups in Vietnam and eventually expand to companies in regional markets, including Singapore, Indonesia, and the Philippines.
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VinVentures is a venture capital fund backed by billionaire Pham Nhat Vuong and Vingroup. The fund currently oversees 150 million USD in assets, including an inherited investment portfolio of 100 million USD from Vingroup. It plans to distribute an additional 50 million USD over three to five years. VinVentures strategically targets startups in Vietnam and Southeast Asia.
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Ms. Le Han Tue Lam, Managing Director of VinVentures, stated: ‘Beyond providing capital, VinVentures offers startups a unique advantage by facilitating connections within the Vingroup ecosystem. This includes using the ecosystem as a rigorous platform for evaluating and testing products and services before they enter the market, with the potential for these companies to also become customers of the startups. Moreover, we are equipped to provide advice and assistance by leveraging our extensive network and resources as the leading corporation in Vietnam and the region. This support helps startups to establish relationships with major market partners and acts as a catalyst for their future growth.
VinVentures operates as a professional venture capital fund dedicated to more than just delivering funds. Its aim extends to providing startups with a distinct advantage by creating strategic relationships within the Vingroup ecosystem, where these companies may potentially become prospective clients for startups. VinVentures is committed to developing firms that have the potential to become the next tech unicorns.
With the future years expected to be revolutionary for Vietnam, VinVentures is at the vanguard, empowering progress and ensuring that startups have the resources they need to flourish on a regional scale.
About Vingroup Joint Stock Company (Vingroup JSC)
Founded in 1994, Vingroup is the largest private enterprise in Vietnam. Vingroup’s main focus is on technology (including scientific research and application of technologies), industrials (automobile, e-motorcycle, and smart device manufacturing), and services (residential, commercial, and hospitality real estate development, education, and healthcare).
With the mission “To Create a Better Life for the Vietnamese People,” Vingroup’s products and services adhere to international standards, are trusted by customers, and have won many prestigious Vietnamese and international awards.
