Vietnamese investment management firm VinaCapital and Silicon Valley venture capital firm Draper Fisher Jurvetson have teamed up to launch a $50-100m technology and privatisation fund called DFJ VinaCapital.
Examples of the new fund’s initial focus areas include wireless communications, broadband applications for consumers, internet, and privatisation of state-owned telecom spin-offs.
DFJ VinaCapital has already invested in a Vietnamese internet portal.
Tim Draper, founder and managing partner of DFJ, said, ‘Vietnam is now ripe and ready for venture capital investing. And here, we at DFJ have decided to pursue the obvious opportunity created by the opening up of this extraordinary and very entrepreneurial country.’
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