Singapore's venture capital fund eyes on Vietnam
WVR/VNA - Singapore's Golden Gate Ventures venture capital fund plans to open two offices in Vietnam to invest in the emerging technology sector.
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| Golden Gate Venture plans to open two headquarters in Vietnam. (Source: Baodautu) |
Golden Gate Ventures on May 30 signed a cooperation agreement with the National Innovation Centre (NIC), aiming at strengthening relationships, and supporting the development of the startup and innovation ecosystem in Vietnam.
The agreement was inked within the framework of the workshop themed “Golden Startup Triangle in Southeast Asia: Vietnam - Singapore – Indonesia” organised by the NIC.
With this deal, Golden Gate Ventures will increase investment in the market, promote exchanges, develop new ideas and innovations, and act as a catalyst to support Vietnam’s startups in building a position in the region.
Currently, the investment fund has established representative offices in Singapore, Vietnam and Indonesia, affirming that this is the “Golden Triangle of Startups” in Southeast Asia.
Many delegates to the workshop said that Vietnam has become a "new gem" of the region when it rises to the top of the rankings along with leading regional countries such as Singapore and Indonesia with a record high investment of 1.4 billion USD poured into Vietnamese start-ups in 2021 - the year when the country was heavily affected by the COVD-19 pandemic.
NIC Director Vu Quoc Huy said that in the first four months of 2022, the number of newly-established enterprises in Vietnam increased by 12.3 percent over the same period last year and by 31.9 percent over that of the previous two years.
Golden Gate Ventures is a venture capital fund in Southeast Asia founded by Silicon Valley natives. Since 2011, the firm has launched four funds, managed 250 million USD AUM, and invested in over 60 companies.
To support startups and innovation in Vietnam, the fund announced the launch of two new offices in Hanoi and Ho Chi Minh City.
(Source: VNA)
