Golden Gate Ventures assists startups in Vietnam

Representatives from Golden Gate Ventures and National Innovation Centre sign cooperation agreement. (Photo: VNA)

Hanoi (VNA) - GoldenGate Ventures on May 30 signed a cooperation agreement with the National Innovation Centre (NIC), aiming at strengtheninglong-term relationship, and supporting the development of the startup andinnovation ecosystem in Vietnam.

The agreement was inked within the framework of the workshop themed “Golden Startup Triangle in Southeast Asia: Vietnam - Singapore – Indonesia” organised by the NIC.

With this deal, Golden Gate Ventures will increaseinvestment in the market, promote exchanges, develop new ideas and innovations,and act as a catalyst to support Vietnam’s startups in building a position inthe region.

Currently, the investment fund has establishedrepresentative offices in Singapore, Vietnam and Indonesia, affirming that thisis the “Golden Triangle of Startups” in Southeast Asia.

Illustrative image (Photo: nucetech.com)

Many delegates to the workshop said thatVietnam has become a "new gem" of the region when it rises to the topof the rankings along with leading regional countries such as Singapore andIndonesia with a record high investment of 1.4 billion USD poured intoVietnamese start-ups in 2021 - the year when the country was heavily affectedby the COVD-19 pandemic.

NIC Director Vu Quoc Huy said that in the first four monthsof 2022, the number of newly-established enterprises in Vietnam increased by12.3 percent over the same period last year and by 31.9 percent over that of theprevious two years.

Golden Gate Ventures is a venture capital fund in SoutheastAsia founded by Silicon Valley natives. Since 2011, the firm has launched fourfunds, managed 250 million USD AUM, and invested in over 60 companies.

To support startups and innovation in Vietnam, the fund announcedthe launch of two new offices in Hanoi and Ho Chi Minh City./.

VNA