Key Takeaways
- • Ho Chi Minh City's People's Committee has approved in principle a Cooperation Framework between the Vietnam International Finance Center in Ho Chi Minh City (VIFC-HCMC) and two investment vehicles, Ho Chi Minh City Venture Capital Investment Joint Stock Company and Touchstone Capital Partners Pte. Ltd.
- • Chairman Nguyen Van Duoc endorsed the policy in Conclusion No. 256-KL/DU dated October 22, based on a proposal from the Department of Foreign Affairs.
- • The city's venture fund was established on April 17 with an initial charter capital of 500 billion VND, and its target is at least 5,000 billion VND by 2035, of which 2,000 billion VND (40%) is from the State budget and 3,000 billion VND from private capital.
- • Nine backers, including Vingroup, Sovico, Becamex, VinaCapital, Sunwah, VNG, CT Group, Hoa Sen and FPT, jointly capitalized the venture fund.
- • The partnership targets green economy, climate response, deep technology, energy transition, sustainable agriculture, waste management and circular economy investments.
Summary
The Ho Chi Minh City People's Committee has announced its agreement in principle for VIFC-HCMC to sign a Cooperation Framework with Ho Chi Minh City Venture Capital Investment Joint Stock Company and Touchstone Capital Partners Pte. Ltd. According to the city's announcement, Chairman Nguyen Van Duoc approved the policy, which was proposed by the Department of Foreign Affairs, in Conclusion No. 256-KL/DU dated October 22. Relevant agencies will review and inspect the agreements once signed to ensure compliance with authority, deadlines, effectiveness and legal requirements. The VIFC-HCMC Executive Agency has been tasked with leading coordination with the Department of Foreign Affairs on compliance with rules for international agreements and with monitoring legal changes during implementation.
The Ho Chi Minh City Venture Capital Fund was established as a joint stock company on April 17 and received its Business Registration Certificate on April 10 with initial charter capital of 500 billion VND. Nine corporations and investment groups contributed capital: Vingroup, Sovico, Becamex, VinaCapital, Sunwah, VNG, CT Group, Hoa Sen and FPT. The fund's stated purpose is to mobilize social resources for innovation, creative startups, technology incubation and digital transformation under controlled risk. Under the fund establishment plan, capital is to reach at least 5,000 billion VND by 2035, comprising 2,000 billion VND from the State budget (40%) and 3,000 billion VND from private sources.
Touchstone Capital Partners is described as a global investment and asset management platform supported by more than 100 international partners and over 25 years of experience integrating infrastructure, energy, technology, finance and community development. According to the Ho Chi Minh City e-portal, the parties would identify, evaluate and promote investment and co-investment opportunities in priority Vietnamese sectors, including green economy, climate change response, core and deep technologies, energy transition, sustainable agriculture, waste management and the circular economy. The collaboration is intended to broaden connections with domestic and international investors, increase capital for technology businesses and complete the investment ecosystem of VIFC-HCMC. The source does not disclose committed capital amounts or signing dates for the framework.
The Ho Chi Minh City Venture Capital Fund was established as a joint stock company on April 17 and received its Business Registration Certificate on April 10 with initial charter capital of 500 billion VND. Nine corporations and investment groups contributed capital: Vingroup, Sovico, Becamex, VinaCapital, Sunwah, VNG, CT Group, Hoa Sen and FPT. The fund's stated purpose is to mobilize social resources for innovation, creative startups, technology incubation and digital transformation under controlled risk. Under the fund establishment plan, capital is to reach at least 5,000 billion VND by 2035, comprising 2,000 billion VND from the State budget (40%) and 3,000 billion VND from private sources.
Touchstone Capital Partners is described as a global investment and asset management platform supported by more than 100 international partners and over 25 years of experience integrating infrastructure, energy, technology, finance and community development. According to the Ho Chi Minh City e-portal, the parties would identify, evaluate and promote investment and co-investment opportunities in priority Vietnamese sectors, including green economy, climate change response, core and deep technologies, energy transition, sustainable agriculture, waste management and the circular economy. The collaboration is intended to broaden connections with domestic and international investors, increase capital for technology businesses and complete the investment ecosystem of VIFC-HCMC. The source does not disclose committed capital amounts or signing dates for the framework.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.