Today: 31/03/2023 19:48:37 (GMT+7)

Venture funds commit $815 mln to Vietnamese startups

Vietnamese startups earned pledges of $815 million over the next five years from 33 foreign and domestic venture funds.

The pledges, announced at the recent Vietnam Venture Summit, came from several foreign funds who’ve been active in Vietnam in recent years, like CyberAgent Capital, AlphaJWC, Monk’s Hill Ventures, as well as several domestic funds like VinaCapital Ventures, Do Ventures, and Viet Capital Ventures.

Venture funds, Vietnamese startups, next five years, foreign and domestic venture funds, tech startups, major economies

Entrepreneurs gather at a startup competition in Ho Chi Minh City in December 2020.

At the same event last year, 18 funds had committed $415 million to Vietnamese startups for three years, and $220 million of this was disbursed in the first half of this year.

Investment in Vietnamese tech startups in the first six months fell 22 percent year-on-year to $222 million due to the Covid-19 pandemic, according to a report by Ho Chi Minh City-based venture capital firm Do Ventures.

Among six major economies in Southeast Asia, Vietnam accounted for 16 percent of the latest investment pledges, ranking third behind Singapore (37 percent) and Indonesia (30 percent), it added.

A recent report by U.S.-based consulting firm McKinsey & Company says 12 large digital ecosystems (companies providing services across sectors) will be established across retail and services in Vietnam by 2025, creating a revenue pool of about $100 billion.

Supporting women for successful startups
(BGO)- Implementing the Prime Minister’s Scheme on “supporting women’s startups in period 2017-2025”, the women’s union at all levels in Bac Giang province has implemented many solutions for supporting women’s startups and economic development.
Solutions conducted to support Bac Giang youth’s startup
(BGO) - The Ho Chi Minh Communist Youth Union in Bac Giang province and the Youth Union at the Ministry of Science and Technology on September 17 held a meeting to discuss the solutions to support the provincial youth’s startup in the period 2020 - 2022.
Recruitment startups bag millions of dollars
Vietnamese recruitment startups have raised tens of millions of dollars in the last six months despite coronavirus impacts on the economy.
Vietnam leaps in startup ecosystem ranking
Vietnam has moved up 13 places from last year to 59th in ranking of 100 economies with the best startup ecosystems.

Source: VnExpress

Venture funds, Vietnamese startups, next five years, foreign and domestic venture funds, tech startups, major economies
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