• IDGVV Press Releases

IDG Ventures Vietnam invests in Vega Software and Goldsun Focus Media

HANOI, VIETNAM – JULY, 13th 2007

IDG Ventures Vietnam, the first American venture capital fund in Vietnam, today announced that it has led two Series A investments in Vega Software JSC and Goldsun Focus Media JSC.

“We are very happy to have IDG Ventures Vietnam as a strategic investor. With the fund’s support and capital, we believe that we will reach our growth targets and become one of the leading technology companies for software and online services in Vietnam, as well as in the region” said Mr. Le Huu Son, CEO & President of Vega Software company.

Ms. Tran Thi Lan Thanh, CEO of Goldsun Focus Media said, “With IDG Ventures Vietnam’s investment, we expect that this partnership will enable us to accelerate our growth and help us to become the market leader in the Out-Of-Home Media (OOH Media) and digital advertising industry.”

According to Mr. Nguyen Bao Hoang, Managing General Partner of the fund, “We are extremely excited about the fund’s investment in Vega and Goldsun Focus Media.  Vega is an innovative technology company with a solid track record of multiple innovative products, and the company has many more innovative products and services for the online market in Vietnam. Goldsun Focus Media is a terrific company with a strong local brand in the advertising market,  an excellent management team and a partnership with NASDAQ-listed Focus Media from China, which has strong ties to IDG Ventures.”

IDG Ventures Vietnam continues to back the most promising companies that are positioned to be market leaders in the rapid growing economy of Vietnam. The Fund is pleased with the performance of its investments so far and is appreciative of the support of the Vietnamese government and the cooperation of the Vietnamese business community. The Fund’s hardworking staff is proud to support the entrepreneurs and companies we invest in and look forward to being a part of their continued success.

About Vega Software JSC

Vega Software JSC (Vega) was founded in 2003 by a group of talented software engineers and passionate technology managers.  With deep technical expertise, and keen insight into market trends, Vega develops and provides advanced technologies and services of high quality and low cost to global customers in the US, Europe, and Japan. With increasing customer confidence and revenue growth, Vega is be a leading software company in the region.

Vega’s main products & services include:

•          Content Management System (CMS), specialized for e-newspaper solutions.

•          Web Components, Web Applications.

•          Real-time Communications (VoIP, Instant Messaging).

•          Business Mobile Applications for Smartphones and PocketPCs.

•          Outsourcing Service.

•          Rich Media Social Network.

Vega is pleased to highlight its core project, Clip.vn, the first video sharing website in Vietnam. Launched in February, 2007, the site is already among the Top 100 Most Visited Websites in Vietnam according to Alexa.com.

For more information about Vega Software, please visit the website: www.vega.com.vn

For further information about Vega, please contact:

Ms. Nguyễn Thuỳ Dương

Address: 8th Floor, VET Building, 98 Hoang Quoc Viet, Cau Giay, Hanoi

Email: thuyduong@vega.com.vn

ĐT: 04. 7554190 – Fax: 04. 7554190

Mobile: 0904.13.8585

About Goldsun Focus Media JSC

Goldsun Focus Media was founded in 2006 by Goldsun, a well-known Vietnamese advertising agency and Focus Media Shanghai (Shanghai – NASDAQ) through an exclusive license to operate out of home media business in Vietnam. The company provides advertising over LCD/LED screens in buildings, supermarkets, public buses and other high traffic public places.

For more information about Goldsun Focus Media, please contact:

Ms. Tran Thi Lan Thanh

Managing Director
Petro Tower, Unit 209

1 Lê Duẩn, District 1, Ho Chi Minh City

T: 08-9106848 – F: 08-8292252

H: 090 333 1536
E: thanhgs@goldsungroup.com.vn

About IDG Ventures Vietnam

IDG Ventures Vietnam (IDGVV) is an early-stage venture capital firm that enables entrepreneurs to grow innovative, global companies. With $100 million under management, the firm is focused on investing in high-potential, high-growth companies in the technology, media and telecom sector. We are an independent partnership making investments on behalf of our limited partner, International Data Group, or IDG, the world’s largest IT media company.

IDG Ventures Vietnam is affiliated with the IDG Ventures network of funds, a global $2 billion network of independently managed funds. As one of the few truly global venture firms, IDG Ventures has made over 250 investments spanning Asia and North America over the last 10 years. Previous investments by the firm include Excite, F5 Networks, Netscape, Spinner.com, VA Linux, and Baidu.com. Active in Vietnam since August 2004, IDG Ventures Vietnam has invested in a diverse portfolio of leading technology firms including: VinaGame, YeuAmNhac.com, iSphere Software, VinaPay, and MSS. By leveraging exclusive access to the IDG platform – an unparalleled combination of global publishing, market research (IDC), and conferences & exhibition resources – IDG Ventures Vietnam is able to uniquely add value to its portfolio companies and position them for success. For more information, please visit http://www.idgvv.com.vn/en

For further information, please contact:

Nguyen Que Anh

IDG Ventures Vietnam


84-4-220 0348 – Hanoi office

84-8-827 8888 – Hochiminh City office