December 20

VCs Pledge to Invest $1.5 Billion in Vietnam Startups

By Thu Huong Le

A group of more than 40 VC firms yesterday pledged to invest US$1.5 billion in Vietnamese startups over the next few years.

They cemented the commitment at the Vietnam Ventures Summit co-organized by Golden Gate Ventures and the country’s National Innovation Center (NIC).

Apart from Vietnam, the participating VCs come from South Korea, Japan, Singapore, Indonesia, and the US.

Vietnam brings “a lethal combination of top tech talent, a Vietnamese culture of entrepreneurship, and a fast-growing domestic market,” Vinnie Lauria, founding partner at Golden Gate Ventures, said in a statement.

Photo courtesy of guido da rozze.

Source: Tech in Asia (link opens in a new window)

startups, venture capital