The new USD100 million venture holding company targets entrepreneurs with big ideas and helps them build companies that make a significant impact on the lives of people in Vietnam and beyond. Two first investments in Logivan and FastGo announced.

VinaCapital, a leading investment management firm in Vietnam, has officially launched VinaCapital Ventures, a USD100 million technology holding company and announced its first investments in Logivan and FastGo, two technology enabled startups providing solutions for the transportation and logistics markets in Vietnam.

Consistent with VinaCapital’s strategy to invest in technology companies in Vietnam over the past ten years, VinaCapital Ventures will enable the group to capitalize on new opportunities in Vietnam’s fast-rising technology sector.

VinaCapital Ventures will invest USD2-10 million per company with an unlimited holding time. Its mission is to help develop strong technology companies in Vietnam and assist them in building a regional presence. The venture’s primary interest is to work with engineers, scientists, and innovators who have developed technologies that solve industry pain points – problems that are substantial enough to compel customers to adopt the new technologies. VinaCapital Ventures is also interested in disruptive technologies that have the potential to create entirely new markets. In supporting the entrepreneurs, VinaCapital Ventures offers capital, connections and mentorship. Its team combines a diverse set of skills and experience, ranging from entrepreneurship, product marketing, operational management, and technology strategy, to developing client bases, deal making and capital raising.

“While manufacturing and property get most of the attention and investment in Vietnam, tech – and startups in particular – hold the greatest promise for the country,” said Don Lam, VinaCapital Co-founder and CEO. “Technology is playing a transformative role in all manufacturing and service sectors and will drive Vietnam’s economy forward. That’s why venture capital, including supporting startups and entrepreneurs, has been a key part of VinaCapital’s business for the past 15 years. With VinaCapital Ventures, we look forward to working with founders to bring Vietnamese technology products to the regional market and contribute to Vietnam’s socioeconomic sustainable development”.

VinaCapital Ventures announced its first two investments:

Logivan is a Vietnamese-owned startup that provides B2B truck hailing and logistics network solutions to address the industry’s inefficiencies. Dubbed as “Uber for trucks”, it leverages the power of technology to help forwarders, shippers and truckers across the country to utilize assets for collaborative consumption and more cost-effective operations, aiming to lower the cost of logistics in Vietnam, improve income for trucks owners and drivers, and reduce CO2 emissions in transportation. Logivan is an award-winning startup, having won prestigious prizes such as UberEXCHANGE 2017 and Rise 2018. FastGo is a ride-hailing mobile application that offers advantages for both drivers and customers. FastGo is the first technology ride-hailing provider to take out an insurance policy for customers called “Fast Protection” with a value of up to VND200 million per ride. FastGo has signed MOUs with MasterCard, PIT insurance and Open99 Taxi to provide comprehensive services to drivers and customers.