Vietnam’s Wealthiest Individual: Vingroup Backs AI Startups with New $150 Million Venture Fund

Vietnam’s wealthiest businessman, Pham Nhat Vuong, and his company Vingroup have unveiled a new venture capital fund, VinVentures Capital Fund, aimed at accelerating growth in artificial intelligence and digital innovation across Vietnam and neighboring markets. The fund, backed by $150 million, will primarily target high-tech sectors such as AI, semiconductors, and cloud computing, according to a company announcement.

VinVentures Capital Fund will tap into Vingroup’s extensive network, allowing supported startups to benefit from strategic connections within the conglomerate’s ecosystem. Two-thirds of the fund’s capital comes from Vingroup’s current investment portfolio, while the remaining $50 million is earmarked for deployment over the next three to five years.

Managing Director Le Han Tue Lam shared that VinVentures is initially focused on Vietnam-based startups with strong local teams at the early stages. He further noted plans to expand into regional markets with similar growth potential, including Singapore, Indonesia, and the Philippines.

The launch of VinVentures aligns with Pham’s vision of positioning Vingroup as Vietnam’s leading tech conglomerate. Through initiatives like Vingroup Ventures and VinTech City, the group has already supported tech startups such as VinBigData and VinAI.

Pham, with a current net worth of $4.1 billion, first entered the business world by founding an instant noodle company in Ukraine in 1993. After selling the business to Nestle in 2010, he reinvested in Vingroup, which now spans sectors from real estate and retail to healthcare, education, automotive, and technology.

Have you read?
Best CEOs.
Best Companies.
Richest People (Billionaire).
Richest Women (Billionaire).
Richest in Each Country (Billionaire).