Vingroup, FPT Join HCMC Venture Capital Fund with VND 500B Initial Capital

Overview

Ho Chi Minh City launched a venture capital fund, HCM VIF JSC, with an initial charter capital of VND 500 billion (approximately USD 20 million). Leading corporations including Vingroup (VIC) and FPT (FPT) are key contributors, alongside state capital. The fund aims to support the city’s startup ecosystem and innovation drive.

Key Facts

• The fund, named Công ty Cổ phần Quỹ Đầu tư mạo hiểm TP.HCM (HCM VIF JSC), was announced on April 17, 2026.
• Initial charter capital is VND 500 billion, with the city budget contributing 40% (VND 200 billion) and private investors contributing VND 300 billion.
• Vingroup (VIC) contributed VND 60 billion, FPT contributed VND 10 billion, and Sovico contributed VND 100 billion.
• Other contributors include Becamex (VND 50 billion), VinaCapital (VND 25 billion), Sunwah (VND 25 billion), VNG, CT Group, and Hoa Sen (each VND 10 billion).
• The fund is structured as a joint-stock company, with VinaCapital Ventures’ CEO Hoang Duc Trung and Quang Trung Software Park’s Director Nguyen Huu Dung as co-managers.
• The target is to increase total charter capital to at least VND 5,000 billion by 2035, with VND 2,000 billion from state budget.

What Happened

On April 17, 2026, the Ho Chi Minh City People’s Committee announced the launch of a venture capital fund operating as a joint-stock company. The fund, HCM VIF JSC, has an initial charter capital of VND 500 billion, with 40% from the city budget and the remainder from private investors. Major corporate contributors include Vingroup, Sovico, Becamex, Sunwah, VinaCapital, VNG, FPT, CT Group, and Hoa Sen.

Vice Chairman of the HCMC People’s Committee, Nguyen Manh Cuong, emphasized that the fund represents a breakthrough solution for early-stage capital, marking a historic step in implementing national policies on science, technology, and innovation. The fund will be managed by Hoang Duc Trung of VinaCapital Ventures and Nguyen Huu Dung of Quang Trung Software Park, blending private sector expertise with state oversight.

Market Context

Vingroup (VIC) closed at VND 177 on April 15, 2026, up 6.95% on high volume, reflecting positive sentiment. FPT (FPT) closed at VND 75, down 1.31%. Both stocks are listed on HOSE. The fund’s launch aligns with Vietnam’s growing focus on innovation and tech startups, potentially benefiting VIC and FPT through strategic investments and ecosystem development.

Strategic Significance

For Vingroup and FPT, participation in HCM VIF JSC signals a commitment to fostering Vietnam’s tech startup ecosystem. Vingroup, a conglomerate with interests in real estate, technology, and manufacturing, can leverage the fund to access early-stage innovations. FPT, a leading IT services firm, gains a platform to nurture tech talent and potential acquisitions. The public-private model reduces risk for private investors while providing state-backed credibility, potentially attracting more foreign capital to Vietnam’s venture scene.

What to Watch

• First investment announcements from HCM VIF JSC, expected in late 2026.
• Progress toward the VND 5,000 billion capital target by 2035, including additional private contributions.
• Impact on VIC and FPT’s earnings from potential portfolio companies.
• Regulatory updates on venture capital in Vietnam, especially foreign ownership rules.
• Performance of the fund’s management team in deploying capital effectively.