Ho Chi Minh City’s new venture fund starts with VND 500 billion (about US$19.7 million): VND 200 billion from the state and VND 300 billion from private investors, with a target of VND 5 trillion by 2035.
It plans to back 50–150 startups, with AI, big data, blockchain, semiconductors, biotech and robotics as priorities. Founding participants include Vingroup, VinaCapital, VNG, FPT and Sovico Group.
The cheque size matters less than the alignment. What the priority list leaves out is services — and Vietnam already exports skilled work to US, EU and Australian companies every day.
The near-term win is turning that export into AI-native service companies with Vietnamese ownership and global customers, alongside the deep-tech bets. That gap is where we invest.
Building AI-native services in Ho Chi Minh City? Apply to the city fund — and email us too.
Our views, not investment advice.