vietnam

VinaCapital plans new technology fund this year

VinaCapital plans new technology fund this year

VinaCapital, one of the largest foreign-invested fund managers in Vietnam, plans to establish a new fund investing in supporting industries in the Southeast Asian country this year.

Source: pda.vietbao.vn

This will be the second of its kind of VinaCapital in the country, besides the current DFJ VinaCapital L.P. (DFJV), a venture capital fund that invests in start-up technology companies, the state-run Dau Tu newspaper reported Monday.

Than Trong Phuc, director of DFJV, said that the new fund will expand its investment into training field, besides software and supporting industry fields. Capital for each investment item will be raised to $5 million-$10 million from current $2 million.

VinaCapital will base on four major criteria to select to-be-invested enterprises, namely capable leadership team; products and target markets for the products; the difference of products; and business strategies for rapid development.

DFJV is a venture fund between VinaCapital and Draper Fisher Jurvetson with a capital of $30 million, investing in software enterprises and hi-tech supporting industries.

Phuc said that DFJV has disbursed 80% of its capital over the past two years, focusing on ten projects of software companies, with average investment capital of $2 million for each investee.

Projects on software outsourcing, internet services, value-added services on mobile phones, chip manufacturing, e-commerce are potential to create high return, he noted, adding that foreign investors are very keen on the development of information technology industry of Vietnam.

(Source: Dau Tu)

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