Việt Nam jumped from fifth to third in the list of most active start-up ecosystems in the six largest ASEAN economies in only two years. The change was from the first half of 2017 to the corresponding period of 2019, with the country trailing only Indonesia and Singapore. According to the Vietnam Tech Investment Report released recently by Singapore-based venture capital firm Cento Ventures and Việt Nam’s early stage venture fund ESP Capital, the amount of invested capital and the number of technology deals done in the country have grown six-fold in the period. The report showed local start-ups raised a total of US$246 million during the first half of 2019. Of which, the three largest investments, including Tiki, VNPay, and VNG, captured 63 per cent of the funding. In terms of sectors, key blocks of the digital economy such as retail and payment accounted for almost 60 per cent of investment. Multi-vertical companies are growing well and have captured a 12 per cent share of capital, while emerging sectors such as fintech, real estate and logistics are only just beginning to pick up in Việt Nam, collectively taking a 10 per cent share of total capital. According to the… Read full this story
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