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Friday, February 3, 2023

US$1.5-billion venture capital pledged to Vietnam

The Saigon Times

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HCMC – Thirty-nine venture capital funds committed a combined US$1.5 billion to Vietnam in the 2023-2025 period during the Vietnam Venture Summit 2022 in Hanoi yesterday, December 19.

The event was held by Vietnam’s Ministry of Planning and Investment and co-organized by the National Innovation Center and Golden Gate Ventures, a Singaporean-based venture capital firm.

According to Minister of Planning and Investment Nguyen Chi Dung, venture capital agreements in Vietnam accounted for 19% of the deals in Southeast Asia between January and June.

In 2021, Vietnamese start-ups raised a record-breaking US$1.4 billion in funding, which was 1.6 times more than in 2019, according to the National Innovation Center.

Vinnie Lauria, founding partner of Golden Gate Ventures, said Vietnam, Singapore and Indonesia form a startup golden triangle in Southeast Asia.

According to Crunchbase News, worldwide venture capital in the third quarter of 2022 was US$81 billion, while it was US$3.72 billion for Southeast Asian venture capital.

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