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IDG Ventures Vietnam Stakes In 3 ICT Companies

Having considered carefully the potential growth and feasibility of Vietnamese ICT companies, IDG Ventures Vietnam, a US$100 million venture capital fund, officially announced on April 11th,2007 to invest in 3 more IT joint stock companies such as Vinapay, a first online mobile payment structure, provides e-transaction service for mobile phone network providers, bankers, whole-sale, consumer… Cyworld Vietnam, a Korean-invested company, one of most successful and developed online social networking site in the world. It was established by SK Telecom company. Yeu Am Nhac joint stock company, a virtual stage for its members to exchange music news with local singers…

With the purpose of supporting the start-up companies grow in global market, IDG Ventures Vietnam has invested in 14 IT companies which have grown high and firm; IDG Ventures Vietnam discloses that they will expand to invest in education and health care. IDG Ventures Vietnam will stake ranging between US$50,000 and US$3 million on the basis of capital demand of the enterprise partners.