The Vietnam Venture Summit was the venue for announcements on major funding agreements, photo Kim Oanh At the Vietnam Venture Summit 2020 co-organised by the Ministry of Planning and Investment (MPI), the Ministry of Science and Technology, and Golden Gate Venture in Hanoi, 33 venture capital funds committed to pouring $815 million into the Vietnamese startup ecosystem in the next five years, committing twice as much capital as during the first summit last year. The venture capital funds included VinaCapital Ventures, 500 Startups, Alpha JWC, BeeNext, CyberAgent Capital, Do Ventures, ThinkZone, Vietrans, among others. In the framework of the innovative startup festival Techfest Vietnam, one investor group among the delegation included a dozen distinguished entrepreneurs and investors from Germany, Switzerland, and Israel, who decided to establish a $100-million venture fund dedicated exclusively to Vietnam’s digital startups, excluding other commitments that arose during the four-day festival. Philipp Rösler, former German Federal Minister of Economics and Technology and former Vice Chancellor of Germany who was born in Vietnam, commented, “Financiers are fascinated by the startup environment and dynamics in the country. In addition, the excellent management of the COVID-19 crisis by the Vietnamese government has improved the investment environment significantly in recent… Read full this story
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