HCMCity (VNA) - VinaCapital - the leading investment management groupin Vietnam - on August 30 announced the establishment of VinaCapital venture capitalfund at a scale of 10 million USD, aiming to continue its investment strategiesin technology startups.

Thefirm also publicised the fund’s first investment activities in Logivan andFastGo - the two prominent startups in technology solutions in the field of transportin Vietnam.

Tran Nhat Khanh, Technology Investment Director of VinaCapital, said that thelaunch of the fund aims to enhance cooperation with engineers, scientists andinnovators who use technologies to create solutions to difficulties in differentareas, thus encouraging customers to apply new technologies to improving theeconomic efficiency for each individual and the whole society.

The value of each investment can be up to 10 million USD with unlimited timefor share holding. VinaCapital Ventures also gives enterprises that the fundinvests in the opportunity to access business networks of VinaCapital inVietnam and Southeast Asia.

In particular, VinaCapital Ventures will pay attention to innovative technologicalideas which can create new markets able to enhance its influence on regionaland international markets.

According to Don Lam, General Director of VinaCapital, manufacturing and realestate are the two areas attracting greater interest from investors in Vietnam.

However,VinaCapital believes that technology is one of the areas that has the potentialto grow rapidly, and will play a crucial role in boosting economic efficiencyof all other sectors, he said.

 Therefore, VinaCapital Ventures choseLogivan and FastGo for its investment, creating its hallmarks in the startupwave in the technological field in Vietnam.  

Logivan Technologies Pte is specialised in providing technological solutionsthat help optimize the cost of road freight transportation through data systemization.The firm’s solutions help reduce costs of logistics services and energyconsumption.

Meanwhile, FastGo Corporation is a provider of mobile applications for orderinghigh-quality car service in Vietnam. This is the only application of this kind inthe market with Fast Protection insurance.

Accordingto investors, the Vietnamese Government is implementing many policies toencourage entrepreneurs to start a business. VinaCapital Ventures will be oneof the channels to support companies and start-up firms, thus contributing to Vietnam’seconomic growth.

Nguyen Huu Tuat, co-founder of FastGo Corporation, said that this is the firsttime the firm has received investment from a venture capital fund in Vietnam.This will create conditions for domestic start-ups enterprises to promote theirdevelopment in many fields.-VNA