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Investment-paradise Vietnam catches eye of Silicon Valley venture capital firm

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Silicon Valley-based Fenox Venture Capital announced intentions to pour capital into Vietnam after immense investments in Indonesia in the last several years.

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The fund’s regional head asserted Vietnam shall be the next target as a follow-up business tactic of wading deeper into Asia, according to an exclusive interview conducted by newswire Deal Street Asia.

Retno Dewati, the capital firm’s manager for the Southeast Asia region, highlighted Fenox’s fascination with the investment beacon that is Vietnam.

To date, the firm has yet to specify the targeted sectors or industries it wishes to approach.

Speaking about investment opportunities, the Silicon Valley investor’s representative expressed excitement towards the dynamic startup ecosystem of Vietnam, saying the firm might make its entrance as early as at the beginning of 2018.

Vietnam has lately drawn great attention from foreign investors.

Specifically, in late September, Sea Limited (formerly known as Garena) successfully acquired 82 per cent of Foody’s shares, becoming the largest shareholder of the Vietnamese gourmet application.

Until now, Fenox Venture Capital has poured capital into 25 startups in Southeast Asia. The firm is currently keeping the Vietnamese market on hold until 2018, where it will make the next steps in its business strategy of deeply penetrating Asia.

Fenox Venture Capital is a Silicon Valley-based venture capital firm aiming to invest in various industries, such as IT, health IT, artificial intelligence, IoT, robotics, big data, virtual reality, augmented reality, fintech, and next generation technologies. The firm publicised its intention of assisting entrepreneurs achieve global expansion into North America, Asia, the Middle East, and Europe.



Source: VIR