Ho Chi Minh City launches public-private venture capital fund
VGP - Ho Chi Minh City launched a public-private venture capital fund on Friday, aiming to ease capital bottlenecks and promote its innovation ecosystem into the world's top 100 by the end of this decade.
Secretary of the Ho Chi Minh City Municipal Party Committee Tran Luu Quang (5th from left) and founding business members of the venture capital fund at the launch ceremony in Ho Chi Minh City, April 17, 2026. Photo: VGP
With an initial charter capital of VND500 billion, the fund will provide support for tehnology startups and advance the city’s goals in science, technology, and innovation development under the Politburo's Resolution No. 57-NQ/TW.
Over the next decade, the fund is expected to support around 50–150 startups, help commercialize at least 50 products and technologies, and nurture 5–10 major tech firms capable of IPOs, mergers and acquisitions, or international expansion.
Ho Chi Minh City plans to increase the charter capital of the fund to VND5,000 trillion by 2035, with 60 percent of the capital coming from the private sector and 40 percent from the State./.
