Ho Chi Minh City (VNA) – The People’s Committee of Ho Chi Minh City has approved a plan to establish a 500 billion VND (about 19.7 million USD) venture capital fund to mobilise social resources for the city’s innovation startup ecosystem and technology enterprises.
Under the plan, the fund will begin operations in 2026 with an initial charter capital investment of 500 billion VND, including 200 billion VND (40%) from the State budget and 300 billion VND (60%) from private investors. The city aims to expand the fund’s capital to at least 5 trillion VND by 2035.
The fund will operate under a public–private partnership model, with the State providing “seed capital” to attract private investments. For every 1 VND of State capital, the city expects to mobilise 2–3 VND from the private sector.
Several corporations and investment funds, including Sovico Group, Vingroup, VinaCapital, Becamex IDC, VNG Corporation, CT Group, Hoa Sen Group, Lotte Ventures Vietnam and FPT Corporation, have committed to joining as founding investors.
During 2026–2035, the fund plans to invest in 50–150 innovative startups and science-technology enterprises, support the commercialisation of at least 50 new products or technologies, and help develop at least five large technology firms capable of listing on stock exchanges or engaging in international mergers and acquisitions.
Priority investment areas include digital technologies such as artificial intelligence, big data and blockchain, semiconductor manufacturing, biotechnology, new materials, renewable energy, automation and robotics./.
