Young people study hardware to apply to the digital transformation ecosystem at the SHTP-IC incubator (Photo: SGGP)
In the first months of 2022, hundreds of millions of dollars of many investment funds have been announced to invest in Vietnamese start-ups.
For instance, e-commerce application Rino has successfully raised $3 million, start-up Infina has successfully raised another $4 million in the seed stage, Startup OpenCommerce Group (OCG) has also raised $7 million in a Series A funding round, led by VNG with the participation of venture capital fund Do Ventures.
According to the annual report of ESP Capital and Cento Ventures, with the attraction of investment capital in Vietnamese start-ups reaching more than $1.3 billion in 2021, Vietnam has risen to the third position in the ASEAN start-up ecosystem just behind Indonesia and Singapore.
Previously, in 2020, due to the impact of the Covid-19 epidemic, start-up investment decreased by half compared to 2019 with $874 million; nevertheless, the rapid recovery reached a peak in 2021, so it is forecasted that Vietnamese start-ups are highly likely to draw US$2 bln worth of investments in 2022.
By the end of 2021, Vietnam has about 208 venture capital funds operating and investing in start-ups in Vietnam including nearly 40 domestic investment funds.
