Australian Consul-General in HCM City Kate Wallace (centre) and Do Ventures representatives at the Vietnam ESG Investor Conference 2026. — Photo courtesy of the Australian Embassy in Việt Nam

HÀ NỘI — The Australian Government has committed up to US$10 million to venture capital firm Do Ventures Fund II to support climate-focused businesses in Việt Nam and boost private investment in the country’s green transition.

The funding, announced through Australian Development Investments (ADI), will back early- and growth-stage small- and medium-sized enterprises (SMEs) working in areas including clean manufacturing, sustainable consumption and AI-driven climate solutions.

It marks ADI’s first investment under its Việt Nam-focused investment window.

Australian Ambassador to Việt Nam Gillian Bird said the investment reflected Australia’s support for Việt Nam’s energy transition and climate adaptation efforts.

“This significant commitment will strengthen Việt Nam’s climate investment market to attract more private finance, to drive climate solutions in Việt Nam,” she said.

Vy Le, general partner of Do Ventures, said: “This commitment allows us to strengthen our portfolio of climate investments and support more Vietnamese founders seeking to pioneer innovative and sustainable climate solutions.” 

The investment will also support women-led businesses and help address gender gaps in the venture capital sector, where women account for only 11 per cent of senior investment professionals in emerging markets.

According to ADI, Việt Nam currently makes up 40 per cent of its investment portfolio. Through five investment funds, ADI supports 26 Vietnamese SMEs, helping create nearly 5,800 jobs and expanding access to finance for around 260,000 small entrepreneurs.

ADI, the Australian Government’s AU$250 million impact investment fund, also plans to work with Do Ventures to strengthen environmental, social and governance standards and climate impact measurement. — BIZHUB/VNS