Monday , December 5 2022

$50 mln Vietnam-focused fund to be set up by South Korean investment firm


South Korean investment company Nextrans plans to launch a US$50-million Vietnam-focused fund in November to take advantage of the country’s booming startup scene.

“We will continue investing in early-stage startups in not only emerging sectors such as property technology and financial technology but also seek opportunities in sustainable growth areas such as electric vehicles, food waste and food safety solutions,” it said in a Facebook post.

It might invest as much as $3 million in a startup.

The company has already invested in 32 companies in Vietnam, including e-commerce platform Tiki, wealthtech startup Infina and medical technology company Thuocsi.vn.

Nextrans data shows that investment in Vietnamese startups quadrupled in 2021 to $1.35 billion.

The top sectors for investors were financial technology, games, education, healthcare, and e-commerce, it said.

Vietnam had around 3,800 startups as of last year, including four unicorns (company valued at over $1 billion) and 11 startups valued at over $100 million, it added.

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