Vingroup, a conglomerate in Vietnam, has announced the launch of VinVentures, a capital fund for technology startups.

The fund manages assets worth US$150 million, focusing on AI, Semiconductors, and Cloud Computing.

VinVentures, supported by Vingroup and its chairman Pham Nhat Vuong, plans to invest an extra US$50 million in the next three to five years.

While primarily targeting Vietnamese startups at early funding stages, the fund aims to expand into similar Southeast Asian markets.