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| The majority of private equity and venture capital funds headquartered in Viet Nam are investment firms, such as Mekong Capital, VinaCapital, Dragon Capital, and CyberAgent Ventures, in addition to Inc, SBI Holdings and Golden Gate Ventures.— Photo doanhnhansaigon |
HA NOI (Biz Hub) — Domestic and foreign experts gathered at a workshop in Ha Noi on Tuesday to discuss establishing venture investment funds by the private sector in co-ordination with the State.
The workshop was co-hosted by the Ministry of Science and Technology and the Viet Nam-Finland Innovation Partnership Programme.
Deputy Minister Tran Quoc Khanh said that the issue is new and complicated in Viet Nam as there are still differing opinions on using State budgets for venture investment funds as well as policies to encourage the private sector to set up the funds to develop new and advanced technologies.
Ta Doan Trinh, head of the National Institute for Science and Technology Policy and Strategy Studies, delivered a report on his research results.
This clarified the shortcomings and challenges facing Viet Nam in encouraging the private sector to develop venture investment funds.
Mikko Seppala, an expert from Finland, shared his experiences on this issue focusing on who should participate in the funds and how to manage and generate capital for them.
He said there was a need to pay attention to innovative ideas during the policy design process as innovative ideas will decide the efficiency of venture investment funds.
The majority of private equity and venture capital funds headquartered in Viet Nam are investment firms, such as Mekong Capital, VinaCapital, Dragon Capital, and CyberAgent Ventures, in addition to Inc, SBI Holdings and Golden Gate Ventures.
As a big investment company of Japan, CyberAgent Ventures plans to increase investment capital in the Southeast Asian region from US$20 million to $50 million this year.
Entering Viet Nam in 2008, CyberAgent Ventures has invested in 15 companies such as Foody, Tiki, Vatgia, Baokim and Web-sosanh with an average capital disbursement of between $700,000 and $1 million per company.
The Ministry of Science and Technology said a national venture fund is expected to be established by the end of this year. — VNS