An investment fund intended to support start-ups in digital transformation made its debut in the Mekong Delta City of Can Tho on Monday.

Named FUNDGO, the fund is the first of its kind in the city to support and invest in start-ups. It is established by the city-based TRUSTpay Joint Stock Co.

During the launching ceremony, FUNDGO also signed a strategic co-operation agreement with Can Tho Youth Union to implement programmes on supporting young start-ups and deploying community activities.

In her speech, Secretary of Can Tho Youth Union Lu Thi Ngoc Anh said that many start-up ideas related to digital transformation have been appearing, thus the fund will open up a gateway for young start-ups to access capital and realise their dreams.

Besides capital, the fund also advises and supports young start-ups in many other areas such as technology, finance, law and branding, she said.

FUNDGO aims to incubate and make a long-term investment in not only start-ups but also in small and medium-sized enterprises with high creative abilities, said Dinh Tuan Kiet, chairman of the fund and president of Can Tho City Young Entrepreneurs Association.

The fund will diversify its portfolio into food chains, agriculture, healthcare, education technology, financial technology, medical technology, and marketing business models, Kiet said.

He added it will also encourage businesses with good technology orientation such as applications on mobile and internet platforms or potential agricultural technology applications in the Vietnamese market and other countries with similar conditions in the world.

The fund also has priority mechanisms for businesses that are operating in the city's economic sectors and other ones that have applied high technology in production as well as scientists, lecturers, students who have practical inventions with high commercialisation possibilities thereby creating a driving force for the city's development. — VNS