As many as 17 VC firms have come together to form the Vietnam Venture Capital Alliance (VVCA) to help the local market flourish, as per a press statement.
The VC firms include ThinkZone Ventures, 500 Startups, CyberAgent Capital, Vietnam Investment Group, Openspace Ventures, Access Ventures, Quest Ventures, Genesia Venture, Monk’s Hill Ventures, eWTP Capital, Teko Ventures, VIC Partners, Venturra, Next100, Nextrans, FEBE Ventures and Duane Morris.
VVCA is a non-legal organisation which will cooperate with the government to propose policies that will help the country attract more capital while expanding the legal corridor for startup business models.
The goal is to remove major barriers such as lack of startup investment knowledge and legal barriers for foreign investment funds.
Its activities will be implemented across three focus areas, which include issuing an annual summary report on investment activities, organising a dialogue with the government on investment for innovative startups and proposing policies to improve the startup investment environment.