Today: 22/10/2020 13:56:49 (GMT+7)
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Vietnam startup investment beats Singapore

Investment in Vietnamese tech startups last year exceeded that experienced in Singapore for the first time to rank second in Southeast Asia.

Total investment in Vietnam reached $741 million, compared to Singapore’s $693 million and Thailand’s $135 million, according to Singapore-based venture capital firm Cento Ventures.

Vietnam startup investment, Vietnamese tech startups, e-payment app,  American private equity, Vietnamese government

Entrepreneurs discuss ideas at a startup convention in Ho Chi Minh City.

Indonesia topped the chart in six countries studied at $2.38 billion.

Vietnam’s value surged 2.5 times over 2018, with the number of deals nearly doubling from 50 to 90.

Most notable deals include payment app VNPAY raising $300 million from Japan-based Softbank Vision Fund and Singapore-based sovereign wealth fund GIC.

Another e-payment app Momo pulled in about $100 million from American private equity company Warburg Pincus.

The country’s share of investment value in the region also jumped from 4 percent in 2015 to 18 percent last year, compared to Indonesia’s 59 percent, Singapore’s 17 percent and Thailand’s 3 percent.

Vietnam startup investment, Vietnamese tech startups, e-payment app,  American private equity, Vietnamese government

Vietnam’s value surged 2.5 times over 2018, with the number of deals nearly doubling from 50 to 90.

Cento Ventures data shows Vietnam has one company, gaming firm VNG Corporation, valued above $1 billion, and at least 13 startups over $100 million including e-commerce player Tiki, e-wallet Momo and ride-hailing Be.

The Vietnamese government in recent years has encouraged entrepreneurship and wants the private sector to drive economic growth.

The number of newly established businesses in the country hit a new record at 138,100 last year, up 5.2 percent year-on-year, according to General Statistics Office.

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Source: VnExpress

Vietnam startup investment, Vietnamese tech startups, e-payment app, American private equity, Vietnamese government
 
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