VinaCapital Ventures invests in Hub Global blockchain eco-platform
VinaCapital Ventures, a technology investment platform of VinaCapital Group, on December 21 announced that it has invested in Hub Global JSC, a blockchain eco-platform that focuses on supporting the development of promising Vietnamese startups creating blockchain solutions across a range of verticals.
HCM City (VNA) - VinaCapital Ventures, a technology investment platform of VinaCapital Group, on December 21 announced that it has invested in Hub Global JSC, a blockchain eco-platform that focuses on supporting the development of promising Vietnamese startups creating blockchain solutions across a range of verticals.
The deal has made VinaCapital Ventures the largest strategic shareholder of Hub Global and helped it secure a seat on its Board of Directors.
Hub Global JSC was founded in 2021 by Linh Han, CEO at VSV Capital and a member of the Forbes “30 under 30” in Asia list; Bryan Pelz, CEO of Xtab Xtudios and a former co-founder and current board member of VNG; and Hai Bui, co-founder of VCC Holdings and former head of Business Technology Transformation at Techcombank and Kyber Network.
Hub Global JSC focuses on three key areas: incubator/accelerator, blockchain community and sandbox, and blockchain investment fund, backed by 10 limited partners and several reputable entrepreneurs, the fund has recorded a profit of 5x its initial investment after just three months of operation.
According to Hoang Duc Trung, Manager of VinaCapital Ventures, blockchain boasts enormous potential far beyond cryptocurrency, and Vietnamese startups are already making inroads into developing blockchain solutions in a number of applications.
“We are excited to invest in Hub Global JSC and look forward to working with its team, which has a diverse range of experience and a track record of successfully setting up and commercialising large-scale blockchain projects,” he said./.
Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to study and carry out pilot implementation of cryptocurrency based on blockchain technology in the 2021-23 period.
Vietnam is playing catch-up in a global race to develop its own digital currency and experts believe this will not only help the country develop new technology but also present an opportunity for Vietnam to join the most technologically-advanced countries.
Vietnamese teams earned three out of the 11 prizes offered at the recently concluded 2021 International Blockchain Olympiad, announced the Ministry of Science and Technology on October 12.
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ANTARA and VNA can design global-scale cooperation programmes or joint media campaigns, demonstrating the comprehensive strategic partnership between Vietnam and Indonesia, as well as the cooperation between the two national news agencies.
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A key highlight will be the technology cluster pavilion, showcasing top enterprises selected for their innovation, market potential, and practical applications. These firms will display flagship products and solutions, supported by government policies to strengthen the tech sector.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
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The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
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The week features a rich lineup of activities, including a plenary conference on blockchain and AI development, thematic seminars on future technology trends and investment visions, applications of blockchain and AI in business, the Super Vietnam PitchFest, as well as forums for blockchain and AI.
Illustrative image (Photo: Engma) 
