Nov 15, 2018 / 17:03

Silicon Valley billionaires seek investment opportunities in Vietnam

The US investors want to know more about Vietnam’s policies and regulations with regard to new technologies and business models, especially the Cyber Security Law and investment procedures for digital currencies projects.

A group of Silicon Valley billionaires, including founding partners at US$2.7-billion venture capital fund 8VC Joe Lonsdale and the Winklevoss twins, among others, is in Vietnam to seek investment opportunities, Tuoi Tre online newspaper reported. 
 
Silicon Valley billionaires including Cameron Winklevoss and Tyler Winklevoss are in Vietnam to seek investment opportunities. Source: Internet.
Silicon Valley billionaires including Cameron Winklevoss and Tyler Winklevoss are in Vietnam to seek investment opportunities. Source: Internet.
The trip is part of the group’s plan to look at Vietnam’s policies and regulations with regard to new technologies and business models, especially the Cyber Security Law and investment procedures for digital currencies projects. 

Other high profile investors of the group include Jack Abraham, founder and managing partner of Atomic, a company that builds start-ups, and Elad Gil, a serial entrepreneur, operating executive, and investors advisor to private companies including Airbnb, Coinbase, Gusto, Instacart, OpenDoor, Pinterest, Square, Stripe and Wish. 

At present, 8VC has been investing in Vietnam and implementing projects which bring high skilled engineers from Ho Chi Minh City to the US, and from Silicon Valley to Vietnam, said Joe at a meeting with Le Thanh Liem, vice chairman of Ho Chi Minh City People’s Committee on November 14. 

According to Joe, 8VC has set up a center in Canada which connects 1,000 engineers in with start-ups in the US. The model could be suitable in Vietnam, stated Joe. 

At the meeting, the Ho Chi Minh City’s leader said the city has approved a project developing a creative urban area similar to the Silicon Valley model, adding that the city gives priority to start-ups development and building smart city.