Vingroup launches technology investment fund VinVentures

On October 28, 2024, Vingroup Corporation announced the launch of VinVentures Technology Investment Fund with total assets of 150 million USD.

The identity of the newly launched "VinVentures Technology Investment Fund" with total assets of 150 million USD. Photo: Internet.

The fund focuses on highly innovative technology startups with the desire to promote and develop the startup ecosystem, contributing to the creation of digital technology enterprises in Vietnam and the region. VinVentures is a technology investment fund sponsored by billionaire Pham Nhat Vuong and Vingroup Corporation. The total assets under management of the Fund are 150 million USD, of which 100 million USD is the investment portfolio inherited from Vingroup and 50 million USD is expected to be disbursed in the next 3-5 years.

VinVentures Fund's investment focus is Artificial Intelligence (AI); Semiconductors and Cloud Computing and products with high-tech functions. Photo: Internet.

VinVentures' investment focus is Artificial Intelligence (AI); Semiconductor and Cloud Computing and high-tech products. In addition, the Fund also opens up opportunities for startups in other fields if they have growth potential and are capable of providing quality products and services, not necessarily limited to startups related to Vingroup. The Fund's investment scope is initially the Vietnamese market, targeting startups with domestic founding teams in the early stages (seed stage and Series A stage - stages 2 and 3/5 of startup funding rounds). In the future, the Fund will expand its reach to startups in the region, especially in markets with similar development characteristics to Vietnam such as Singapore, Indonesia and the Philippines. Regarding the investment process, the Fund and the invested unit will follow these steps: meeting, exchanging information, researching products, the startup's target market, investment appraisal, signing a negotiation agreement and then signing an investment contract. The time from when the startup submits the application until receiving disbursement can last from 2 to 3 months and up to 6 months for large-scale deals. The conditions for VinVentures to invest are startups with potential for sustainable development, good growth rate, products and services with high commercialization and practical application potential and a reputable and experienced founding team. The deals will be implemented on the principle of professional investment, in which VinVentures will buy shares and become a shareholder of the company with specific profit expectations. Ms. Le Han Tue Lam (Executive Director of VinVentures Fund - Vingroup Corporation) said: In addition to capital contribution, the special value that VinVentures brings to startups is the ability to connect with companies in Vingroup's ecosystem in both roles: an environment for evaluating and testing product quality, technology services for startups before launching to the market and potential customers. In addition, with the network and resources of a leading corporation in Vietnam and the region, we are also ready to advise and support startups to connect with major partners in the market and be a "launch pad" for potential startups in the future./.

Thu Hang