The Vietnam Venture Summit 2022 successfully concluded with over 40 global venture capital firms committing to invest over US$1.5 billion in propelling the growth and success of innovative startups in the country.
The Vietnam Venture Summit 2022 hosted by Vietnam’s Ministry of Planning and Investment on December 19, 2022, in collaboration with the Vietnam National Innovation Center (NIC) and Golden Gate Ventures focused on theme of “Shifting Global Capital Flows” gathered global leaders, corporates, multinational investment firms, research institutes, incubators, and innovators. This year’s summit ended with great success, as leading international venture capital firms came together to pledge over US$1.5 billion in investments into Vietnam’s flourishing startup ecosystem.
The recent pledge was led by over 40 venture capital firms from across the globe, including Vietnam, Japan, Singapore, Indonesia, as well as the United States.
Vietnam’s startup scene has shown promising growth over the years, with a favourable business environment reinforced by governmental policies, along with a rapid shift in consumer behaviour and demand. The summit further spotlighted the region’s potential growth and development in the coming year. Moreover, upon foreseeing the market opportunities presented within the region’s thriving ecosystem, global investment firms are joining forces to aid the development and scale of innovative and solution-driven startups in the region.
2022 marked the summit’s third year of running, attracting the largest assemblage of Vietnam’s leading political leaders, along with the top innovators and entrepreneurs from around the globe. During the event, leaders deliberated on the future of SEA’s startup ecosystem in correlation to Vietnam’s significant impact and importance as the region’s emerging investment attraction.
The event was backed by leading ecosystem players including Google Cloud, Marcum Asia, HSBC, Do Ventures, and others, who have shown great support and confidence in regional startup growth.
The recent funds pledged to creative startups in Vietnam will be implemented from 2023 to 2025, raising total investment in the field to a total of US$5 billion.
Vinnie Lauria the Founding Partner at Golden Gate Ventures commented, “Vietnam is at a crucial inflection point in its development as a startup ecosystem – not just within SEA but on the global stage. The over US$1.5 billion investment pledge reflects the global community’s commitment to accelerate Vietnam’s development at this critical juncture – it’s time to double down on Vietnam’s huge potential.”
A current overview of Asia’s economy predicts significant GDP growth of up to 4.9% in 2023, topping other regions. Furthermore, SEA drew over US$174 billion in foreign investments in 2021, while SEA-focused venture capital funds raised US$3.1 billion in 2022.
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