{
  "id": 5231236,
  "title": "Ho Chi Minh City launches public-private venture capital fund",
  "url": "https://urgent.news/2026/09/03/ho-chi-minh-city-launches-public-private-venture-capital-fund",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T02:33:54.000Z",
  "source": {
    "name": "SGGP English Edition Business",
    "slug": "sggp-english-edition-business",
    "url": "https://en.sggp.org.vn/ho-chi-minh-city-launches-public-private-venture-capital-fund-post129435.html"
  },
  "original_language": "en",
  "account": "Ho Chi Minh City has introduced Vietnam's inaugural public-private venture capital fund, committing VND500 billion (US$19.2 million) to aid startups and solidify the city's status as a national innovation center. The launch of this fund, combined with support packages worth up to VND200 billion (US$7.63 million), aims to tackle the capital scarcity faced by startups while bolstering the city's role as a national policy laboratory.\n\nThe Ho Chi Minh City Venture Investment Fund, established by HCMC Venture Investment Fund JSC (HCM VIF JSC), has opened its operations at SIHUB, located at 123 Truong Dinh Street, HCMC. It is the first venture capital fund of its kind in Vietnam, intended to support and guide startups from their inception stage to significant growth. With an initial charter capital of VND500 billion in 2026, the fund plans to expand its capital to VND5 trillion by 2035. Currently, 40% of the capital is funded by the state budget, while the remaining 60% is contributed by private sector entities and reputable financial institutions.\n\nDespite its recent inception, the fund has already received approximately 50 investment proposals from incubators and accelerator programs. Director of HCM VIF JSC, Hoang Duc Trung, expects the fund to issue its first one or two disbursements in the fourth quarter of 2026. During this phase, the fund will concentrate on investing in 50-150 startups within key technology sectors, including artificial intelligence (AI), semiconductor chips, biotechnology, renewable energy, and automation.\n\nThe Science and Technology Development Division, under the HCMC Department of Science and Technology, sees the fund's launch as a practical step to address the capital bottleneck hindering startups. The fund operates independently, guided by market principles and a clear demarcation between ownership and management rights. This structure is expected to significantly enhance startups' chances of achieving rapid growth.\n\nHigh-tech startups in Ho Chi Minh City often possess intellectual property and skilled teams but lack tangible assets to secure loans from banks. To counteract this issue, the HCMC Finance and Investment State-owned Company (HFIC) introduced an interest-rate support program under Resolution No. 09/2023/NQ-HĐND, enabling startups to access preferential loans of up to VND200 billion per project. The city has also implemented a credit guarantee mechanism that can cover up to 100 percent of loans for innovative startups lacking collateral.\n\nUnder the Urban Development Law, the municipal People's Council can allocate annual charter capital to the venture fund, and enterprises can utilize their science and technology development funds to directly invest in the city's fund. This flexible financial mechanism allows private sector resources to be unlocked for high-tech startup projects. Deputy head of HFIC's Planning and Development Research Division, Nguyen Ha Lam, explained that to qualify for interest-rate support, a project must align with the city's plans, pass HFIC's assessment of its debt repayment capacity, and not have already signed a contract with a contractor. Additionally, startups must meet specific requirements, such as possessing equity capital equivalent to at least 15-20 percent of the project value, fulfilling tax obligations, and having no overdue tax debts.",
  "summary": "Ho Chi Minh City has unveiled Vietnam’s first public-private venture capital fund, injecting VND500 billion (US$19.2 million) to fuel startups and cement the city’s role as a national innovation hub.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}