- Media
The one who seeks the boss of Vietnam’s Google
“It’s the Vietnamese people that may set up the business same as the Google or Yahoo but first of all, it’s extremely essential to have great aspiration and it’s our job to help the students to cook up their burning aspirations and make them become true ’’. said Nguyen Bao Hoang, Managing General Partner of IDG Venture Vietnam, in the talk with the students of Hanoi Business Management University “ hopefully there will be a top leader like Yahoo and Google among 80 students in the talk exchange today’’ added he.
The talk exchange is basic part of his work schedule because he has pointed out that the venture investment like go fishing; it’s actively a must to seek fish so he himself has been active to talk with the businessmen, students to stimulate their aspiration of doing business.
IDG Ventures Vietnam has been run by Nguyen Bao Hoang, A Vietnam-American (Viet Kieu) since 2003. Frankly speaking, he finds it hard to use the “venture” term, as far as He concerns, it’s more correct to call prospective investment because the role of the fund is to accelerate the start-up companies which has potential growth and of course it’s possible to lose capital or earn profit in investing in hi-tech businesses.
“Capital granting is limitless but its’ crucial for them to prove oriented-growth capacity ‘ and he uncovers that there have been only 13 invested-companies among 2.000 units apply for capital investing, there are highlights of 2 invested-companies in which first one is now interested to be bought by a foreign corporation and second company that will list on New York bourse.
The human factor holds 80-90% in the investment decision.
IDG Ventures Vietnam has made no mistake in granting capital for Vinagame company which inially set up with 5 staffs and they have grown up with 500 ones for 5 months later.
IDG Ventures Vietnam has invested in wide range of business scopes such as information technology, science, health care, television, e-newspaper… now the fund is spinning hope on recent invested online-advertising company that has aimed at increasing online-advertising revenue as much as 10 times in the next 3 or 4 coming years.
Bao Hoang’s way to head for homeland which is the same as other Vietnamese Overseas. His initial strange feeling lead to the warm loving and attaching to the homeland. Graduated excellently in literature major at the famous Harvard university in 1995. Bao Hoang made the first impressive trip to Vietnam to carry out a tour guide book in Southeastern Asia called “Let’s Go” although his knowledge of Vietnam remains humble. Let’s Go, a first tour guide handbook in Asia.
Returning to the U.S, he continued to follow studying medical university Northwestern like his older brother and sister’s medical career and he simultaneously studied master’s degree of business management at Kellogg school and he both graduated from medical and management universities in 2000. having served as a doctor at the general clinic, he performed some operations but the voice of doing business had waved Hoang, the future doctor had shifted to another turning point.
Nguyen Bao Hoang comes back Vietnam to help an American telecommunications company specializing in IP services and technology to establish representative office in Hanoi in 2000. He served as the Managing Director in Asia for VITC. Hoang had grown up a newly-established VITC company gaining annual revenue of US$30 million before joining VITC, Nguyen Bao Hoang was an Associate at New York-based Goldman Sachs in Equity Research in the Technology and Enterprise Software Group.
His third return to Vietnam in a role of the Managing General Partner of IDG Ventures Vietnam in year 2003, he has got closer to Vietnam and has wished to make his devote to the development of the country and He will stay in Vietnam for at least 6 more years because the IDG’s plan to imburse US$100 million in the upcoming 10 years.
Idea to do business means life surrounds us.
The youngest of family of 4 siblings, Nguyen Bao Hoang migrated to live with his family in the suburban Washington since 1975 when was 22 months baby. His parent saved their 3-month salary to buy him an IBM computer as he was 9 years old that was the dream of many people at the time. he played game with that computer like other child in addition, Hoang managed to study its components and learn how to program it. knowing that his neighbors put up house for sale which was a little bit messy. Hoang helped them type and arrange it in nice and tidy photos for easy identity since then most of real estate traders had asked him make leaflets. he had enough money to buy 2 more computers from this reward. Hoang called his friend to perform the service at the weekend, it took them 3 hours to carry out this kind of job, the remain time, they played game together.
Being fond of sport and an excellent sport player, he not only joined the squash team at school, but also wrote sport articles, worked at the radio of the school. he both played well jazz and set up a music band for shows, the band had performed at 40 universities and colleges at Boston for their expenditure and leisure.
In the progress of studying at the medical school, Hoang and his friends built up S2S Medical Publishing specializing in publishing medical books and related-documents for medical students and resident physician. Hoang has accumulated the precious experiences for 4 years of studying here. He and his friends had collected a handbook which sold out more than 65,000 units.
Besides, he was one of the founder of www.meschool.com webpage which offers in-depth medical study for long-distance students, it has attracted more than US$25 million from venture capital funds.
While studying at the medical school, the toughest major, but he had thought of trading medicines introduced by teachers so he made up his mind to study business management to approach and solve out new business ideas and projects. in other word, Hoang may use knowledge of finance and investment to figure and solve matters logically.
His alone return to the homeland but Hoang has been always surrounded by great affection and warm care of his colleagues and neighbors.