DTO/NDO- The Ho Chi Minh City Department of Science and Technology held a ceremony on April 17 to launch town’s Venture Capital Fund, which shall be managed by the Ho Chi Minh City Venture Investment Fund Joint Stock Company (HCM VIF JSC).
The launch introduces a specialised monetary instrument particularly designed to help modern start-ups and expertise enterprises from the incubation stage via to the expansion stage.
As town with the most important start-up group within the nation and residential to many main expertise companies, Ho Chi Minh City has constantly been on the forefront of supporting innovation.
During the 2021-2025 interval, town applied quite a few programmes to construct capability and mobilise each home and worldwide assets.
However, the ecosystem has continued to lack domestically primarily based, market-driven venture capital funds to offer seed capital and information funding flows.
Operating as a joint inventory firm underneath the Law on Enterprises, the fund ensures transparency, autonomy in governance, and independence in funding decision-making.
The fund has an preliminary constitution capital of 500 billion VND (almost 19 million USD), of which town price range contributes 40%, with the rest mobilised from non-public buyers, enterprises, and monetary establishments.
This construction displays a public-private partnership mannequin wherein public capital serves to construct investor confidence and provoke operations, whereas private-sector assets are the first driver of scaling up the fund over the long run.
Under its roadmap via 2035, Ho Chi Minh City goals to boost the fund’s complete constitution capital to at the least 5 trillion VND (almost 190 million USD), with non-public capital accounting for no less than 60%.
The fund prioritises funding in modern start-ups, science and expertise enterprises, and digital expertise firms with robust progress potential.
Lam Dinh Thang, Director of the Ho Chi Minh City Department of Science and Technology, acknowledged that that is a completely new monetary mannequin, enabling public capital to soak up calculated dangers and thereby successfully mobilise and channel non-public assets in help of town’s modern start-up ecosystem.
Speaking on the ceremony, Ho Chi Minh City Vice Chairman Nguyen Manh Cuong emphasised that the institution of the fund represents a breakthrough answer to early-stage funding challenges, marking a landmark step in implementing key nationwide insurance policies on science and expertise, innovation, and digital transformation.
(Source: NDO)