Wednesday, September 19 2018

VietNamNews

VinaCapital launches $100m tech venture

Update: August, 31/2018 - 10:00
Delegates at the launching ceremony of VinaCapital Ventures in HCM City on August 30. — VNS Photo
Viet Nam News

HCM CITY — VinaCapital, a leading investment management firm, on August 30 launched VinaCapital Ventures, a US$100 million technology holding company, that will “support entrepreneurs with big ideas and help them build companies that make an impact on the lives of people in Việt Nam and beyond.”

Speaking at its launch, Trần Nhật Khanh, head of Technology Investment at VinaCapital, said VinaCapital Ventures would invest $2-10 million per company.

“It is a holding company, so we have no exit timeline unlike a normal fund. It means we can go with the founders, stay with them and follow up their investment as long as they need us.

“VinaCapital Ventures will do two types of investments: the normal venture capital type of investment and entering into joint ventures with key industry players to address the most critical pain points of any particular industry.”

The venture’s primary interest is to work with engineers, scientists and innovators who have developed technologies that address difficult industry pain points – problems that are substantial enough to compel customers to adopt the new technologies, he said.

It is also interested in disruptive technologies that have the potential to create entirely new markets, he said.

When working with a company, besides offering capital, VinaCapital Ventures also offers connections and mentorship, he said.

Don Lam, VinaCapital Co-Founder and CEO, said while manufacturing and property get most of the attention and investment in Việt Nam, tech – and start-ups in particular – hold the greatest promise for the country.

“Technology is playing a transformative role in all manufacturing and service sectors and will drive Việt Nam’s economy forward. That’s why venture capital, including supporting start-ups and entrepreneurs, has been a key part of VinaCapital’s business for the past 15 years.

“With VinaCapital Ventures, we look forward to working with founders to bring Vietnamese technology products to the regional market and contribute to Việt Nam’s sustainable socio-economic development.”

VinaCapital Ventures also announced its first two investments in Logivan and FastGo, two technology start-ups providing solutions for the transportation and logistics markets.

Logivan, dubbed “Uber for trucks”, is a Vietnamese-owned start-up that provides B2B truck hailing and logistics network solutions to address the industry’s inefficiencies.

FastGo is a ride-hailing mobile application developed by Vietnamese engineers that offers advantages to both drivers and customers. Since its launch last June, FastGo has been rapidly growing and currently has the second largest share of the ride hailing market in Việt Nam.

Donation to aid paediatric life support in Sơn La

Ealier on August 27, VinaCapital and VinaCapital Foundation handed over equipment worth over $150,000 to the Sơn La Province General Hospital and 11 district hospitals in the province under its Critical Response programme.

Launched in 2009, Critical Response is one of VCF’s most important programmes and seeks to help reduce the mortality rate of children under five and develop national standards for advance paediatric critical care.

In April this year, VCF and the National Paediatric Hospital provided training to 28 doctors and 36 nurses from Sơn La hospitals in using and maintaining the equipment and learning updated PALS techniques focusing on quick response as a team.

VCF has implemented the programme in Đà Nẵng, Quảng Nam, Quảng Ngãi, Điện Biên, Lai Châu, Cao Bằng, Hà Giang and Sơn La.— VNS

 

 

Send Us Your Comments:

See also: