VinaCapital Ventures, the fund management business VinaCapital Group’s technology investment platform, has confirmed an investment in Hub Global JSC, a blockchain eco-platform that promotes the growth of potential Vietnamese start-ups developing blockchain solutions in a variety of industries.
The specifics of the investment were not revealed, but VinaCapital Ventures would become Hub Global’s biggest external stakeholder and will have a seat on the board of directors.
Hàn Tuấn Linh, CEO of VSV Capital, Bryan Pelz, CEO of Xtab Xtudios and the senior executive of VNG, and Hải Bùi, co-founder of VCC Holdings, established Hub Global JSC in 2021.
Hub Global JSC is a blockchain investment fund that concentrates on three key areas: incubator/accelerator, blockchain community and sandbox, and blockchain investment fund. It is supported by ten limited partners and several well-known entrepreneurs and has seen a five-fold return on the initial investment in just three months running.
The government is pushing blockchain technology development, recognizing its potential uses in financial services, supply chain, real estate, gambling, SaaS, and big data.
It gives specific instructions on how to utilize digital/tokenized assets.
Nonetheless, corporate digitalization and popular adoption in Vietnam continue to lag behind other economies, indicating significant potential prospects in the years ahead.
“It’s clear that blockchain has enormous potential far beyond cryptocurrency, and Vietnamese start-ups are already making inroads in developing blockchain solutions in a number of applications,” stated Hoàng Đức Trung, a partner at VinaCapital Ventures.
We’re thrilled to invest in Hub Global JSC and look forward to working with its team with a diversified set of skills and a track record of successfully launching and commercializing large-scale blockchain initiatives.