Ho Chi Minh City launches Venture Capital Fund
Ho Chi Minh City officially launched the Venture Capital Fund (HCM VIF JSC) with an initial charter capital of VND 500 billion, supporting startups in strategic core technologies and green solutions.
Fund operated by HCM VIF JSC (HCM VIF JSC), initial charter capital of 500 billion VND with 40% contribution from the city budget. The long-term goal is to reach 5,000 billion VND by 2035.
Attending the launch ceremony were Mr. Tran Luu Quang, Secretary of the City Party Committee and Mr. Nguyen Manh Cuong, Vice Chairman of the People's Committee. Ho Chi Minh City.
“Every dollar of capital raised today will be a seed for technology 'unicorns'.”
“The goal is that each dollar of the Fund's capital will become a 'magnet' to attract three to five additional dong.”
Source: Saigon Giai Phong — www.sggp.org.vn. The article is reposted for the purpose of sharing information for the founder and investor community in the ecosystem HCM VIF.
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