Two foreign investment funds Monk’s Hill Ventures and Digital Media Partners will look for opportunities to pour their money into new Vietnamese technology firms taking part in Tech in Asia Arena, which kicked off in Ho Chi Minh City on July 22, according to a local newspaper.

The Saigon Times Daily said the two funds are expected to invest approximately 30 million USD in the five technology startups chosen to make presentations at the event.

As scheduled, Monk’s Hill Ventures director Kou-Yi Lim and Digital Media Partners president Khor Chieh Suang will participate in Tech in Asia Arena.

Tech in Asia Arena gives firms the opportunity to call for funds and learn how to expand their presence to Southeast Asia.

The event also includes seminars for seasoned investors to share expectations from technology business startups and experiences for companies to expand their operations to the region and the world.

Monk’s Hill Ventures intends to invest 1-5 million USD and Digital Media Partners plans from 500,000 USD to 1 million USD in each of the firm they pick at the event in the initial time. Digital Media Partners will add 3 million USD to every of its chosen firms when they expand.-VNA