PRINT THIS PAGE IDG Ventures raises $100m fund for investments in Vietnam22/12/2003. Source: AltAssets. 
 IDG Ventures, the private equity arm of International Data Group (IDG), a technology, media, research and event company, has raised a $100m fund to make investments in Vietnam. The firm is also raising a $20m side-fund for the same purpose.
IDG is the sole investor in the main fund, according to a report by Venture Wire. The firm will use $80m to invest in companies in Vietnam and $20m will be used to invest in IDG subsidiaries in Vietnam. IDG is also raising a $20m side-fund from other limited partners.
‘This will be the first time that an American fund will invest in Vietnam,’ said Louis Nguyen, general partner at IDG Ventures. ‘The risks and potential benefits are high. Roughly three quarters of the country lives in poverty, but the country is large and 70 per cent of the population is under thirty. This young workforce is hungry for anything American.’
IDG will primarily invest in information technology outsourcing, open-source Linux software and telecommunications.
Copyright © 2003 AltAssets
|
