The Executive Authority of the Vietnam International Financial Centre in Ho Chi Minh City announced an agreement with Touchstone Partners and HCM VIF. The agreement sets up a 1:1 matching co-investment program with a combined capacity of up to US$100 million. Touchstone and HCM VIF each plan to contribute up to US$50 million over five years.
Program focus
The program will target Seed to growth-stage technology companies. It covers sectors such as AI-enabled education, healthcare, manufacturing, and renewable energy. VIFC-HCMC will coordinate investment structures and help with sandboxes, licensing, and incentives.
Partner roles
Touchstone will bring its global investor network and technology investing experience. HCM VIF will supply matching local capital and industry connections. The program is the first blended finance initiative of its kind in Vietnam.
HCM VIF background
HCM VIF launched in April 2026 as Vietnam’s first public-private venture capital fund. It has initial charter capital of VND500 billion, with 40% from the city budget and 60% from private shareholders. Its private shareholders include Vingroup, FPT Corporation, and Sovico Group.
The partners expect the five-year framework to strengthen Ho Chi Minh City’s role as a regional innovation hub. The initiative builds on a May 2026 agreement between VIFC-HCMC, Touchstone Partners, and Temasek Foundation. VIFC-HCMC also plans to connect portfolio companies with government agencies, industrial zones, and strategic partners.