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Vietnam startup funding falls sharply in 2022, but opportunities are still aplenty for investors

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Jamille Tran

Published Wed, Apr 5, 2023 · 04:30 PM
    • Investors remain attracted to Vietnam's robust economic growth, young skilled population, and huge services industry, said Justin Nguyen, general partner of Monk Hills.
    • Investors remain attracted to Vietnam's robust economic growth, young skilled population, and huge services industry, said Justin Nguyen, general partner of Monk Hills. PHOTO: PIXABAY

    [HO CHI MINH CITY] EVEN though Vietnam’s economy was among the best performers in Asia in 2022, it was a challenging year for startups, as venture capital (VC) deal values plunged sharply to US$634 million.

    This represented a 56 per cent decline year on year, with the second half of 2022 proving particularly challenging, as there was a 65 per cent fall from the first six months as a result of the ongoing global tech crunch.

    These figures came from a recent report released by Vietnam-focused VC firm Do Ventures, which showed that last year’s deal value was well below the pre-pandemic level of US$874 million in 2019.

    StartupsStartup fundingVenture capitalVietnam

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