Business

Investment funds pour more money into Vietnamese startups

A record of over 1.3 billion USD was poured into Vietnamese startups in 2021 despite the complicated developments of the COVID-19 pandemic, helping the country rank third in the group of the most dynamic innovative startup ecosystems in Southeast Asia, only after Indonesia and Singapore, statistics show.
Investment funds pour more money into Vietnamese startups ảnh 1Illustrative image (Photo: ictvietnam.vn)
Hanoi (VNA) – A record of over 1.3 billion USD was poured intoVietnamese startups in 2021 despite the complicated developments of the COVID-19pandemic, helping the country rank third in thegroup of the most dynamic innovative startup ecosystems in Southeast Asia, onlyafter Indonesia and Singapore, statistics show.

Mostof the investment capital has been pumped into startups in the fields of FinTech,game, education, health care, and e-commerce.

Innovativeideas to respond to the pandemic and support the Government's prevention andcontrol initiatives have shown the dynamic adaptation of Vietnamese startups.

Investmentfunds have placed their trust on many startups with outstanding competence and, as a result, so many big deals have been signed,contributing to making Vietnam’s startup ecosystem more vibrant.

VN Life – the firm that owns the VNPay payment tooland VNPay QR cashless payment systems, successfully raised over 250 millionUSD. Meanwhile, Tiki raised 258 million USD, and E-wallet MoMo also reportedthe successful completion of its fundraising round with 200 million USD.

Due to the impact of the healthcrisis, investment in technology startups halved compared to 2019, reachingonly 874 million USD.

However,Vietnam has been seen as a potential startup market as investment funds stillcontinue to pour their capital in.

Accordingto Le Hoang Uyen Vy, Co-Founder and CEO of Do Ventures Fund, this is anopportunity for Vietnam to become a new technology centre of the world.

New-generationstartups soon understand that it is necessary to expand their thinking,operations and networks globally to reach sustainable developmentin the future, Vy said./.
VNA
#COVID-19 pandemic #startup ecosystems #Vietnam #Investment funds #Vietnamese startups #dynamic adaptation #Vietnamplus #Vietnam news #Vietnam News Agency
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