Vingroup, a leading corporation in Vietnam, has announced the launch of the VinVentures capital fund, aimed at investing in high-impact technology startups and fostering the startup ecosystem. With total assets under management of 150 million USD, VinVentures is set to contribute significantly to the creation of digital technology enterprises in Vietnam and the wider region.
Sponsored by Mr. Pham Nhat Vuong and Vingroup, VinVentures currently manages 150 million USD in total assets. The fund’s investment focus includes Artificial Intelligence (AI), Semiconductors, Cloud Computing, and other high-tech products. It also welcomes startups from diverse sectors, as long as they demonstrate growth potential and the ability to deliver quality products and services.
Initially targeting the Vietnamese market, VinVentures aims to invest in startups with local founding teams in the early stages, specifically the seed and Series A rounds. The fund plans to expand its scope to include startups in regional markets with development traits similar to Vietnam, such as Singapore, Indonesia, and the Philippines.
The investment process involves a series of defined steps, including initial meetings, information exchange, detailed research, investment appraisal, negotiation agreements, and final investment contracts. The timeline from application submission to funding typically spans 2 to 3 months, with larger-scale transactions taking up to 6 months.
VinVentures sets specific investment criteria, targeting startups with potential for sustainable growth, robust growth rates, and commercially viable products and services. The founding teams must possess established credibility and extensive experience. The fund acquires equity stakes, becoming a shareholder in the invested companies.
Ms. Le Han Tue Lam, Managing Director of VinVentures, highlighted the advantage of the Vingroup ecosystem, which provides startups with rigorous product evaluation and testing platforms. Startups may also become customers of Vingroup companies, and the conglomerate’s extensive network and resources can offer advice and assistance, helping startups establish relationships with major market partners.
Investing in technology startups has been a strategic priority for Vingroup, which has previously invested in numerous tech startups through funds like Vingroup Ventures and VinTech City. By launching VinVentures, Vingroup aims to optimize opportunities for innovative technology ideas in the Vietnamese and regional markets, while expanding its revenue streams.
According to the Global Startup Ecosystem Report (GESER 2023) by Startup Genome, Vietnam’s startup ecosystem is ranked third in Southeast Asia, with an estimated economic impact of $5.22 billion. The number of startups in Vietnam has significantly increased, reaching over 3,800, with AI startups accounting for nearly 10% of the total.
Startups interested in partnering with and receiving investment from VinVentures are encouraged to contact the fund via email and fill out the application form.