Golden Gate Ventures said that this venture capital fund is planning to set up headquarters in Hanoi and Ho Chi Minh City.
Bloomberg estimates that Vietnam, with a population of about 100 million, is attracting venture capitalists as the country’s economy expands and consumers increasingly access online and mobile services. motion.
Vietnam’s start-ups attracted a record $1.4 billion in investments last year, and the number of newly established businesses has increased, the Ministry of Planning and Investment said. 32% in the first four months of 2022 compared to two years earlier. We are expecting investments to double in the next three years.”
Founded by Lauria and former Silicon Valley entrepreneurs Jeffrey Paine and Paul Bragiel in 2011, Golden Gate Ventures was one of the earliest venture capital firms to target the Southeast’s nascent tech sector. ASIAN. Since then, the company has set up four funds and invested in more than 60 companies across the region, including online sorting app Carousell, logistics platform Ninja Van and Appota Corp. – a Vietnamese mobile game platform with over 55 million users.
According to Bloomberg, this move of Golden Gate highlights the booming capital inflows into Southeast Asia, as investors look for opportunities outside of the US and China. Venture capital funds are targeting this region of about 650 million people, where the internet economy is estimated to double in value, according to a joint report by Google, Temasek Holdings and Bain & Co. to $363 billion by 2025.
