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Nearly 900 million USD injected in Vietnamese startups in 2018

Vietnamese startups were invested in to the tune of 900 million USD in 2018, tripling the previous year’s investment, according to a report recently released by Topica Founder Institute (TFI), a startup accelerator programme in Vietnam and Thailand.
Nearly 900 million USD injected in Vietnamese startups in 2018 ảnh 1The five most profitable fields for startups are financial tech (Fintech), electronic commerce (E-commerce), technology services related to tourism (TravelTech), logistics and education tech (Edtech) (Illustrative image. Source: VNA)

Hanoi (VNA) – Vietnamese startups wereinvested in to the tune of 900 million USD in 2018, tripling the previousyear’s investment, according to a report recently released by Topica FounderInstitute (TFI), a startup accelerator programme in Vietnam and Thailand.

VNG Corporation became Vietnam’s first everunicorn tech startup and was valued atone billion USD by the World StartupReport in 2014, a figure expected to rise in 2018.

Meanwhile, Yeah1 became the first media companyin Vietnam to be listed in the stock market with valuation of 500 million USD.

Its ambition is to become the first unicornstartup in the communications industry in Southeast Asia in the next threeyears.

Director of TFI Mai Duy Quang described 2018 asa successful year for Vietnamese startups.

The five most profitable fields for startupswere financial tech (Fintech), electronic commerce (E-commerce), technologyservices related to tourism (TravelTech), logistics and education tech (Edtech),he said.

Fintech topped the list with eight deals worth117 million USD, followed by E-commerce with five deals worth 104 million USDand TravelTech with eight deals worth 64 million USD.

Logistics and Edtech respectively attracted threeand four deals worth a combined 50 million USD.

Domestic funds, including Vingroup Ventures,Viet Capital Ventures and Viet Partners, also made big investment in startups,Quang said.

In early 2019, TFI and Singapore-based InsigniaVenture Partners signed an investment cooperation agreement, under whichInsignia will invest at least 50,000 USD in each graduated startup from TFI.

This is the first collaboration of its kind inVietnam, according to TFI.

“Vietnam is an energetic and potential startupmarket. If proper investment is available, great Vietnamese startups canemerge. Insignia Ventures Partners is showing great interest and desire tocontribute for this development,” said Yinglan Tan, founder of InsigniaVentures Partners.-VNA
VNA
#Vietnamese startups#investment#Topica Founder Institute (TFI)#VNG Corporation#stock market#Southeast Asia#Vietnamplus#Vietnam News Agency
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