Investors pour US$900 million into Vietnam’s start-ups in 2018
More than half of the funding came from domestic investment funds, indicating a growing interest from the domestic investors for start-ups and their willingness to invest, local media reported.
Vietnam’s start-ups have attracted US$889 million in funding from 92 deals in 2018, nearly triple the value recorded in 2017 at US$291 million for the same number of deals, according to Topica Founder Institute (TFI), a Hanoi-based startup accelerator program.
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Mai Duy Quang, TFI’s director, said 2018 is a successful year for Vietnamese start-ups. Of the US$889 million, more than half came from domestic investment funds, indicating a growing interest from the domestic investors for start-ups and their willingness to invest.
According to TFI, the top five sectors attracting the largest investment capital in 2018 include fintech, e-commerce, traveltech, logistics and edtech, in which fintech claimed the top spot in 2018 with 8 deals worth US$117 million.
E-commerce was ranked second with five deals worth US$104 million, compared to 21 in 2017, while traveltech rose to the third place with eight deals worth US$64 million from Vntrip, Luxstay, Atadi, Vleisure, among others.
Logistics and edtech attracted three to four deals worth over US$50 million.
On January 16, Singapore-based Insigna Venture Partners signed an investment cooperation with TFI, in which the former would invest at least US$50,000 in each graduated start-up from TFI.
Yinglan Tan, managing partner of Insignia Ventures Partners, said Vietnam is an energetic and potential startup market. If proper investment is available, great Vietnamese startups can emerge.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years