Another Venture Fund

3:26:38 PM | 7/8/2005

Dragon Capital Company (DC) has officially announced the completion of the mobilisation of capital for Vietnam Growth Fund (VGF). This is the second fund of DC in Vietnam in addition to Vietnam Enterprise Investment Limited (VEIL).

According to Mr Dominic Scriven, Director of DC, VGF has an initial capital of USUSUS$75 million mobilised from various foreign investors with 40 per cent from Europe, 35 per cent from America and 25 per cent from Asia (mainly Japan and Singapore). Some VEIL investors continued the investment in VGF.

VGF will focus on securities market (investing in listed and unlisted stocks, equitised enterprises and bonds). The main opportunity for VGF remains on the stock market. In fact, VGF has started investing without waiting for the completion of fund mobilisation. 45 per cent of the funds have been invested in various projects and the total amount of USUSUS$75 million will be invested in 2005.