HCMC Venture Investment Fund: New $19M Startup Boost

On March 5, 2026, the People’s Committee of Ho Chi Minh City officially approved a landmark project. Consequently, they are establishing the HCMC Venture Investment Fund. This new entity will operate as a joint-stock company to foster local innovation. Additionally, it aims to develop the city’s digital economy.

Public-Private Partnership Structure

The fund begins with a capital of VND 500 billion, which is about $19 million. Regarding the funding split, the state contributes 40%, whereas private investors provide the remaining 60%. Furthermore, the city plans to reach VND 5 trillion by 2035 through annual contributions.

Many major corporations have joined as founding shareholders to support this vision. For example, partners include Vingroup, VinaCapital, and FPT. In addition, SOVICO, Becamex, VNG, CT Group, Hoa Sen Group, and Lotte Ventures Vietnam are involved. This partnership blends public resources with private expertise effectively.

Strategic Growth Targets

Currently, HCMC hosts nearly 50% of the country’s startups. However, the local market clearly lacks large-scale domestic venture funds. Therefore, this fund intends to close that significant gap. It will prioritize technology incubation and digital transformation efforts.

Specifically, the HCMC Venture Investment Fund plans to invest in 50–150 startups by 2035. Moreover, it aims to support at least five technology companies for IPOs or M&As. These operations should raise the high-tech economy’s contribution to 20-25% of the GRDP by 2030. Finally, the fund will use a “seed capital” mechanism to attract 2–3 private units for every unit of state capital. Ultimately, these efforts will significantly improve the city’s competitiveness. For more information, you can visit the HCMC Investment and Trade Promotion Centre.