Vingroup’s $150 Million Venture Fund
According to the Global Startup Ecosystem Report (GESER) 2023 by Startup Genome, Vietnam’s startup ecosystem is currently ranked third in Southeast Asia, with an estimated economic impact of up to $5.22 billion.
The number of startups in Vietnam has also increased significantly, from about 1,600 at the time of the Covid-19 pandemic to more than 3,800 at present, with AI startups accounting for nearly 10% of the total number.
Capturing the general trend of the market, today, October 28, Vingroup Corporation announced the launch of the VinVentures technology investment fund. The fund focuses on investing in high-impact technology startups with the aim of promoting and developing the startup ecosystem, contributing to the creation of digital technology enterprises in Vietnam and the region.
Prior to VinVentures, Vingroup has also invested in many technology startups through funds such as Vingroup Ventures and VinTech City.
VinVentures is a technology investment fund sponsored by billionaire Pham Nhat Vuong and Vingroup Corporation. The fund’s total assets under management are $150 million, including a $100 million portfolio inherited from Vingroup and $50 million expected to be disbursed over the next 3-5 years.
VinVentures’ investment focus is on Artificial Intelligence (AI); Semiconductors and Cloud Computing, and high-tech products.
In addition, the fund also opens up opportunities for startups in other fields if they have growth potential and can provide quality products and services, not necessarily limited to those related to Vingroup.
The fund’s investment scope is currently the Vietnamese market, targeting local founding teams in the early stages (seed stage and Series A stage – stages 2 and 3/5 of startup funding rounds).
In the future, the fund will expand its reach to startups in the region, especially in markets with similar development characteristics to Vietnam, such as Singapore, Indonesia, and the Philippines.
Regarding the investment process, the fund and the invested unit will go through the following steps: meeting and exchanging information, researching products, studying the target market, investment evaluation, signing a term sheet, and then signing an investment agreement. The time from when a startup submits its application to when it receives disbursement can range from 2-3 months and up to 6 months for large-scale deals.
The condition for VinVentures to invest is that startups have sustainable development potential, good growth rates, products, and services with high commercialization and practical application potential, and founding teams with credibility and experience. Deals will be conducted on the principle of professional investment, whereby VinVentures will purchase shares and become a shareholder of the company with specific profit expectations.
The “Young and Talented” Female Leader of the $150 Million Fund
Ms. Le Han Tuệ Lam has been appointed as the Executive Director of the VinVentures Fund.
Ms. Le Han Tuệ Lam is known as the “muse of the investment world.” The vast majority of investors and the media got to know her in 2023 when she took on the role of a “shark” on Shark Tank Vietnam Season 6. Not only was she the only female “shark,” but she was also the youngest participant in the show at just 29 years old.
“Investors can connect with startups through their network, at events, or through referrals from other funds. For me, Shark Tank Vietnam is a platform where promising startups can be discovered for investment.
So, the first reason I decided to join Shark Tank Season 6 was to find great businesses and strong brands for Nextrans Vietnam. The second reason was to accompany startups on their journey so that Vietnam will have more than four ‘unicorns.’ ” Shark Le Han Tuệ Lam revealed her reasons for joining the show.
Ms. Le Han Tuệ Lam, born in 1994, is a native of Hai Duong. Currently, she is the Director of the Nextrans Vietnam Investment Fund, responsible for the Southeast Asian and American markets.
Ms. Tuệ Lam graduated with a Bachelor of Foreign Economics from the Foreign Trade University in 2016 through the regular training program. In 2021, she was one of three Vietnamese people honored by Forbes in the 30 Under 30 list for that year.
Tuệ Lam has held various positions, including finance analyst intern at IPCOMS, credit consultant at Citibank, and investor relations manager at Base.vn.
In 2019, Tuệ Lam became the representative director of the Nextrans Investment Fund in Vietnam at the age of 26. Her job was to identify potential new companies for investment and support previously invested entities. In addition, this entrepreneur also founded the Venture Capital Fund Training Program, a specialized training program for founders and entrepreneurs on effective collaboration with investors.
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