Investment funds pour more money into Vietnamese startups
Illustrative image (Photo: ictvietnam.vn)
A record of over 1.3 billion USD was poured into Vietnamese startups in 2021 despite the complicated developments of the COVID-19 pandemic, helping the country rank third in the group of the most dynamic innovative startup ecosystems in Southeast Asia, only after Indonesia and Singapore, statistics show.
Most of the investment capital has been pumped into startups in the fields of FinTech, game, education, health care, and e-commerce.
Innovative ideas to respond to the pandemic and support the Government's prevention and control initiatives have shown the dynamic adaptation of Vietnamese startups.
Investment funds have placed their trust on many startups with outstanding competence and, as a result, so many big deals have been signed, contributing to making Vietnam’s startup ecosystem more vibrant.
VN Life – the firm that owns the VNPay payment tool and VNPay QR cashless payment systems, successfully raised over 250 million USD. Meanwhile, Tiki raised 258 million USD, and E-wallet MoMo also reported the successful completion of its fundraising round with 200 million USD.
Due to the impact of the health crisis, investment in technology startups halved compared to 2019, reaching only 874 million USD.
However, Vietnam has been seen as a potential startup market as investment funds still continue to pour their capital in.
According to Le Hoang Uyen Vy, Co-Founder and CEO of Do Ventures Fund, this is an opportunity for Vietnam to become a new technology centre of the world.
New-generation startups soon understand that it is necessary to expand their thinking, operations and networks globally to reach sustainable development in the future, Vy said./.
Related News
Electronics industry overcomes challenges to penetrate deep into global supply chain
19:38 | 16/11/2024 Import-Export
Continue to handle cross-ownership in banks
10:35 | 02/11/2024 Finance
"One law amending four laws" on investment to decentralize and ease business challenges
16:44 | 01/11/2024 Regulations
Removing difficulties in public investment disbursement
09:30 | 31/10/2024 Finance
Latest News
Agricultural, forestry and fishery trade surplus value shoots up
10:54 | 23/11/2024 Import-Export
New export and business cooperation opportunities from "dual conversion"
10:53 | 23/11/2024 Import-Export
VN's food processing industry struggles to improve quality and value chain integration
15:53 | 22/11/2024 Import-Export
Approach strategy of the seafood industry when implementing UKVFTA
09:26 | 22/11/2024 Import-Export
More News
Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth
09:25 | 22/11/2024 Import-Export
Vietnamese enterprises facing challenges from cross-border e-commerce platforms
14:32 | 21/11/2024 Import-Export
Vietnam, Malaysia eye new milestone in trade ties
14:29 | 21/11/2024 Import-Export
Shrimp exports surge in 10 months, generating 3.2 billion USD
14:27 | 21/11/2024 Import-Export
Vietnam’s exports to the U.S. near US$100 billion milestone
09:46 | 21/11/2024 Import-Export
From the “abnormal” coffee price, worries about the new crop
09:46 | 21/11/2024 Import-Export
What obstacles limit the market share of Vietnamese goods in the UK?
14:49 | 20/11/2024 Import-Export
Why seafood exports to some Middle Eastern Countries are stalled
14:47 | 20/11/2024 Import-Export
Storm No. 3 destroys profits of many insurance companies
14:45 | 20/11/2024 Import-Export
Your care
Agricultural, forestry and fishery trade surplus value shoots up
10:54 | 23/11/2024 Import-Export
New export and business cooperation opportunities from "dual conversion"
10:53 | 23/11/2024 Import-Export
VN's food processing industry struggles to improve quality and value chain integration
15:53 | 22/11/2024 Import-Export
Approach strategy of the seafood industry when implementing UKVFTA
09:26 | 22/11/2024 Import-Export
Mid-November: Vietnam's trade volume matches 2023 total, eyes record-breaking growth
09:25 | 22/11/2024 Import-Export