US-based International Data Group (IDG)

Hanoi (VNA) – In the next two years the US-based International Data Group (IDG)
will open two more venture capital funds in Vietnam with a total capital of 400
million USD, to invest in the information technology sector.

In an interview with the Vietnam Economic Times on July 19, IDG Chairman Patrick
J.McGovern said that with an annual growth rate of 20 percent, Vietnam ’s IT
and telecoms market is considered one of the best and most attractive investment
destinations. That is why IDG will set up more venture capital funds in the
country.


In 2011, IDG will start a 150 million USD capital fund, focusing on
newly-established companies which have the potential to develop in the future but
are having difficulties raising capital.


In 2012, it will create another fund with 250 million USD in capital, to invest in
companies that have been operational for two years and have established trademarks
in the market. This fund will also invest in other fields such as health care and
retail services.


Currently, IDG owns a venture capital fund named IDG Ventures Vietnam, which was
established in 2004.


According to Nguyen Bao Hoang, the Managing General Partner of IDG Ventures
Vietnam, the fund’s initial capital of 100 million USD has been invested in
private firms operating in telecommunications, communications and technology. The
company has seen an annual growth rate of 38 percent, he added.-Enditem




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