Business

IDG to open two more capital funds in Vietnam

In the next two years the US-based International Data Group (IDG) will open two more venture capital funds in Vietnam with a total capital of 400 million USD, to invest in the information technology sector.
In the next two years the US-based International Data Group (IDG) will open two more venture capital funds in Vietnam with a total capital of 400 million USD, to invest in the information technology sector.

In an interview with the Vietnam Economic Times on July 19, IDG Chairman Patrick J.McGovern said that with an annual growth rate of 20 percent, Vietnam ’s IT and telecoms market is considered one of the best and most attractive investment destinations. That is why IDG will set up more venture capital funds in the country.

In 2011, IDG will start a 150 million USD capital fund, focusing on newly-established companies which have the potential to develop in the future but are having difficulties raising capital.

In 2012, it will create another fund with 250 million USD in capital, to invest in companies that have been operational for two years and have established trademarks in the market. This fund will also invest in other fields such as health care and retail services.

Currently, IDG owns a venture capital fund named IDG Ventures Vietnam, which was established in 2004.

According to Nguyen Bao Hoang, the Managing General Partner of IDG Ventures Vietnam, the fund’s initial capital of 100 million USD has been invested in private firms operating in telecommunications, communications and technology. The company has seen an annual growth rate of 38 percent, he added./.
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