$100 million committed to technology businesses in VIFC-HCMC

Detailed summary

The Executive Authority of the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) announced a framework cooperation agreement with Touchstone Partners (Touchstone) and Ho Chi Minh City Venture Investment Fund Joint Stock Company (HCM V

The programme will have a total investment capacity of up to $100 million, with a cooperation term of five years. It represents a pioneering public-private co-investment model in Vietnam, combining international capital with domestic resources to boost technology development and innovation.

Speaking at the event, Truong Minh Huy Vu, Vice Chairman of Ho Chi Minh City People’s Committee and chairman of the Executive Authority of VIFC-HCMC, said one of the key priorities at present is to find ways to support startups operating in resource-intensive sectors with significant development potential, including AI, core technologies, deep technologies, biotechnology and life sciences.

According to Vu, good ideas needs to be backed by investment capital, implementation capabilities and opportunities to expand into new markets.

“This year, we are introducing a 1:1 matching model, with a view to developing a fund-of-funds mechanism, which will connect investment funds and mobilise additional resources for the startup ecosystem,” Vu said.

Vu explained that the cooperation would go beyond providing capital, extending to joint research, product development, business model development, and the establishment of co-investment mechanisms. This is one of the pioneering efforts to encourage a fund-to-fund investment cooperation model in Vietnam’s venture capital sector.

Ngo Thuy Ngoc Tu, managing director of Touchstone Partners, said the programme aims to connect public and private, domestic, and international partners to support one another in managing investment risks and unlocking additional capital for innovation.

“By combining investment expertise, industry partner networks and a supportive policy framework, we aim to work alongside businesses with the potential to deliver strong financial returns while generating positive and tangible social and environmental impact,” Tu said.

Tran Huu Dung, chairman of HCM VIF JSC, said the cooperation opens up a strategic approach to capital…

“Pooling…

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