Under the proposal, the city seeks approval to allocate funding from its budget for science and technology and innovation to increase the fund’s charter capital during the 2027-2035 period. Annual contributions would be capped at VND200 billion (US$7.7 million), with total contributions over the period not exceeding VND1.8 trillion (US$69.6 million).
The Ho Chi Minh City Venture Capital Fund was established under a scheme approved by the municipal People’s Committee on March 4, 2026. Ho Chi Minh City Venture Capital Fund Joint Stock Company received its enterprise registration certificate on April 10, 2026, with initial charter capital of VND500 billion. Of this amount, VND300 billion, or 60 percent, came from the private sector, while the state contributed VND200 billion.
Under the fund’s establishment plan, its charter capital is targeted to reach at least VND5 trillion by 2035. The proposed capital structure includes up to VND2 trillion in state funding and at least VND3 trillion from private investors.
The additional state budget contributions planned for 2027-2035, together with the initial VND200 billion state investment, are expected to help expand the fund in line with the established roadmap.
The proposed capital increase reflects the practical needs of the city’s innovative startup ecosystem. According to the municipal People’s Committee, Ho Chi Minh City has implemented various startup development programs over nearly a decade and established innovation support centers, business incubators, and technology development facilities. However, access to venture capital, particularly at the early stages of business development, remains limited relative to companies’ needs.
As fields such as artificial intelligence, semiconductor chips, blockchain, and big data develop rapidly, the fund is expected to provide an additional channel for mobilizing investment. It will allocate capital to high-tech enterprises, science and technology businesses, and innovative startups in key sectors, helping turn ideas and research findings into products and bring them to market.
