VIFC-HCMC launches $100 million co-investment program to boost innovation

Detailed summary

As a pioneering public-private co-investment model in Vietnam, the program combines international capital with domestic resources.

A framework cooperation agreement signed on November 12 among the Executive Agency of the Vietnam International Financial Center in Ho Chi Minh City (VIFC-HCMC), Touchstone Partners, and the Ho Chi Minh City Venture Investment Fund JSC (HCM VIF JSC) will implement an Investment Coordination and Co-investment Program worth up to $100 million over five years.

The partnership marks a significant step in developing VIFC-HCMC’s investment ecosystem while reinforcing Ho Chi Minh City’s position as an emerging regional startup and innovation hub. It also builds upon a strategic cooperation agreement signed in May 2026 among VIFC-HCMC, Touchstone Partners, and Temasek Foundation to advance Vietnam’s green transition and connect local innovation with global markets.

As a pioneering public-private co-investment model in Vietnam, the program combines international capital with domestic resources. Under the framework, Touchstone Partners will contribute its global investor network, strategic partners, and expertise in sourcing, backing, and scaling technology firms. Meanwhile, HCM VIF JSC, Ho Chi Minh City’s first joint-stock venture capital fund backed by direct state budget contributions alongside private shareholders, will provide domestic matching capital.

VIFC-HCMC will coordinate the program, facilitating investment structures within the international financial center framework and assisting startups in accessing regulatory sandboxes, pilot programs, licensing, administrative procedures, and investment incentives. It will also connect portfolio companies with regulators, public agencies, infrastructure developers, industrial parks, and strategic partners to commercialize and scale new technologies.

Investments will target three core areas: digital transformation and advanced technologies, including artificial intelligence (AI), core technologies, and deeptech; green transition and sustainable development, covering green economy and climate adaptation solutions; and other…

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