Manufacturing News 05/11/2024, 13:52

Vingroup launches VinVentures Technology Investment Fund

On October 28, 2024, Vingroup announced the launch of the VinVentures Technology Investment Fund, which will manage assets totaling 150 million USD.

Vingroup launches VinVentures Technology Investment Fund

The fund primarily targets high-impact technology startups, aiming to foster and develop a robust startup ecosystem and contribute to the creation of digital technology enterprises in Vietnam and across the region.

VinVentures is backed by billionaire Pham Nhat Vuong and Vingroup. The fund's assets comprise 150 million USD, including a 100-million USD portfolio inherited from Vingroup. An additional 50 million USD will be disbursed over the next 3–5 years.

VinVentures’ main investment focus includes AI, Semiconductors, and Cloud Computing, as well as high-tech products. The fund is also open to startups in other sectors with strong growth potential, offering high-quality products or services, even if they are not directly related to Vingroup.

Initially, VinVentures will focus on the Vietnamese market, targeting early-stage startups with local founders (seed and Series A stages—early to mid-phases of venture funding). The fund aims to eventually expand to regional startups, especially in markets with similar development characteristics to Vietnam, such as Singapore, Indonesia, and the Philippines.

The investment process includes meetings, information exchanges, product and market research, due diligence, negotiation of terms, and finalizing the investment agreement. From the time a startup submits its application until funding is received, the process may take between 2–3 months, or up to 6 months for larger deals.

VinVentures seeks startups with sustainable growth potential, a strong growth trajectory, commercialize products with practical applications, and a reputable, experienced founding team. Investments will follow a professional approach, with VinVentures acquiring equity and becoming a company shareholder with clear profit expectations.

Le Han Tue Lam, Managing Director of VinVentures, said, “Beyond capital investment, the special value that VinVentures brings to startups is the ability to connect with companies in the Vingroup ecosystem in two roles: as an environment for assessing and testing the quality of products and technological services for startups before they enter the market, and as potential customers. Moreover, with Vingroup’s resources and network across Vietnam and the region, we are ready to consult and help startups connect with key partners in the market, acting as a ‘launchpad’ for high-potential startups in the future.”

Investing in technology startups has consistently been part of Vingroup’s strategy as it transitions to becoming Vietnam’s leading technology conglomerate. Before VinVentures, Vingroup had supported numerous technology startups through funds such as Vingroup Ventures and VinTech City. With the group’s solid resources, these startups have successfully launched products and even risen to leading positions in their respective fields, including VinBigData, VinAI, VinBrain, and VinCSS.

Following Vingroup’s mission to establish and develop digital technology enterprises, VinVentures offers maximum support for materializing technology ideas, entering the Vietnamese and regional markets, while also expanding revenue sources for the group.

BAODAUTU/ TRANSLATOR: NGỌC ÁNH
Share

Sign up for more information