VinaCapital takes part in operating the Ho Chi Minh City Venture Capital Fund

VinaCapital has been selected to take on the key role of operating the Ho Chi Minh City Venture Capital Fund, a model established in the form of a joint-stock company, marking a step forward in public-private cooperation aimed at promoting the startup and innovation ecosystem in Vietnam.

The Ho Chi Minh City Venture Capital Fund was officially launched on April 17, 2026, established and registered as an enterprise under the project set out in Decision No. 1267/QD-UBND of the Ho Chi Minh City People's Committee, with an initial charter capital of VND 500 billion.

VinaCapital takes part in operating the Ho Chi Minh City Venture Capital Fund.

The formation of the fund is expected to create additional momentum for the economy's next growth phase by supporting innovation activities in science and technology and in advanced industries. This is also the first time a State-initiated venture capital fund has been established with the aim of mobilizing additional capital from the domestic and foreign private sectors.

Under the capital contribution structure, Ho Chi Minh City holds 40% of the fund's charter capital, with the remainder mobilized from founding shareholders that are large domestic corporations, including Sovico Group, Vingroup, Becamex IDC, Sunwah Group, VNG Corporation, FPT Corporation, CT Group and Hoa Sen Group, along with VinaCapital. Of these, VinaCapital is both a founding shareholder and a direct participant in operations. Mr. Hoang Duc Trung - Deputy Chief Executive Officer of VinaCapital's Technology Investment Fund - has been appointed Director of the Fund.

Speaking at the launch ceremony, Mr. Hoang Duc Trung said the fund will play the role of "seed capital" in the market, proactively steering capital into strategic fields that require a long-term investment horizon. Its operations will focus on the Series A and Series B funding rounds, the key stage for startups to scale up and accelerate their development.

At the same time, the fund will prioritize investments in core technologies and green and digital transformation solutions, in line with Ho Chi Minh City's development orientation for the 2025-2030 period as well as with the national policy of promoting science, technology and innovation.

Emphasizing the fund's role in the startup ecosystem, Mr. Trung said it will serve as a platform to help technology enterprises realize their long-term development goals, while contributing to making Ho Chi Minh City a technology hub for the region.

From an investor's perspective, Mr. Don Lam - CEO and founding shareholder of VinaCapital - said the establishment of the fund is a step aimed at narrowing the capital gap for startups, while promoting a shift in the growth model toward one based on innovation.

Mr. Don Lam added that, beyond its capital commitment, VinaCapital will contribute the investment experience it has accumulated over many years, connect with international sources of capital and support the fund's operation to international standards, thereby helping to build a professional technology investment platform and promote the sustainable development of the startup ecosystem in Ho Chi Minh City.