Major corporations back Ho Chi Minh City Venture Capital Fund
The Ho Chi Minh City Venture Capital Fund has been launched with major corporations as founding shareholders to boost early-stage financing for startups. The fund aims to increase its charter capital to $189.88 million by 2035 and prioritize investments in innovative startups and science and technology enterprises.
The Ho Chi Minh City Venture Capital Fund has been launched with several large regional and Vietnamese corporations as founding shareholders. The fund has an initial charter capital of $19 million, with the city contributing 40% from its budget. It aims to increase its charter capital to $189.88 million by 2035, with private capital accounting for a minimum of 60%. The fund will prioritize investments in innovative startups, science and technology enterprises, and digital industrial firms with high growth potential. Target sectors include artificial intelligence, big data, and green technology. The fund will focus on Series A and B funding rounds and provide governance support to startups. It plans to announce investment criteria and priority sectors in the coming period.
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