Private capital agency targets to facilitate $35 bln of investment for startups

The Vietnam Private Capital Agency (VPCA), which was launched on September 12, targets to facilitate $35 billion of private investments into innovation and startups in Vietnam by 2035.

The establishment of the VPCA is aimed at promoting best practices in the venture capital (VC) and private equity (PE) sectors.

It was co-founded by private capital industry leaders from Do Ventures, AVV, Golden Gate Ventures, Mekong Capital, and Monk's Hill Ventures.

“Vietnam is witnessing a pivotal moment as foreign venture capital and private equity funds have paid increasing attention to investment opportunities in Vietnam and the Vietnamese Government has continuously issued and implemented policies to promote the business environment. The VPCA is committed to making use of this momentum, ensuring that the capital flow is effectively channeled to support innovation and sustainable economic development," said Ms. Vy Le, chair of VPCA.

The VPCA will offer a platform that unites investors, industry partners, and entrepreneurs under a shared vision of growth and innovation. Its four pillars of activity include building a thriving community, sharing knowledge, providing essential support services and developing expertise through organization of workshops, training and forums as well as activities to connect investors and startups.