Name

Dragon Capital Group

Legal name

Dragon Capital Group

Website

https://dragoncapital.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Distribution channels3 records

Core offering

Dragon Capital Group is a Vietnam-focused asset management firm that manages approximately $5 billion in client assets across multiple investment vehicles. Its product lineup includes VEIL, a UK-listed closed-end fund; KPHO, the NYSE-listed KraneShares Dragon Capital Vietnam Growth Index ETF; and two Vietnamese mutual funds, DCDE (DC Dividend Focus Equity) and DCDS (DC Dynamic Securities). The firm serves institutional investors seeking professionally managed exposure to Vietnamese equities.

Product overview

Dragon Capital Group is a Vietnam-focused fund manager with approximately $5 billion in client assets, offering a product ecosystem centered on equity investments in Vietnam through multiple fund structures. The product lineup includes KPHO, an NYSE-listed ETF sub-advised by Dragon Capital providing international investors exposure to Vietnamese equities via the Dragon Capital Vietnam Growth Index; VEIL, a UK-listed closed-end fund offering international investor access; and two domestic Vietnamese mutual funds (DCDE and DCDS) targeting Vietnamese institutional and qualified investors. Dragon Capital leverages local market expertise to guide international and domestic capital into Vietnam's high-growth equity market.

Differentiator

Problem solved

Functional benefit

Brands

• Vietnam Enterprise Investments Limited (VEIL): UK-listed closed-end fund focused on domestically-driven Vietnamese sectors, managed by Dragon Capital
• DC Dividend Focus Equity (DCDE)
• DC Dynamic Securities (DCDS)
• KraneShares Dragon Capital Vietnam Growth Index ETF (KPHO)

Quantifiable outcome

• DCDE outperformed the VN-Index by 2.3 percentage points with a 4.8% rise in net asset value per unit in January 2026
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core, minor and flagship.

• UNDP and UNEP-WCMCcoreStrategic or Co-development Partner · 5 March 2026Dragon Capital Vietnam co-organized a 'Finance for Nature' workshop in Hanoi with the Institute of Strategy and Policy on Agriculture and Environment, University of Economics and Technology for Industries, UNDP, and UNEP-WCMC. The workshop introduced a report applying the Integrated Economic-Environmental Modelling framework while discussing integrating natural capital into Vietnam's macroeconomic decision-making.
• ESGIminorStrategic or Co-development Partner · 16 January 2026Dragon Capital and ESGI co-hosted a workshop on 'Innovation and ESG Practices: Green Transition in the Digital Era' attended by around 300 participants to discuss the 'dual transformation' strategy for integrating Vietnamese enterprises into global value chains.
• Global On-Chain Economy AllianceflagshipStrategic or Co-development Partner · 26 November 2025Dragon Capital joined the Global On-Chain Economy Alliance launched at the Vietnam International Financial Centre in Ho Chi Minh City. The alliance brings together international and domestic organizations including Dragon Capital, Tether, Ava Labs, Sky Mavis, Viettel Digital Services, Republic, and Onchain Academy to build digital economic infrastructure and form a complete digital asset ecosystem.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Franklin Templeton Investments: Global asset manager with established frontier- and emerging-market equity strategies including dedicated Vietnam exposure. A larger incumbent with broader distribution that competes for the same institutional EM mandates.
• Manulife Investment Management: Global asset manager with extensive Asia and emerging-markets equity capabilities. Competes for the same institutional and retail pools seeking diversified EM exposure with a Vietnam or Asia tilt.
• Mirae Asset Global Investments: Asian-headquartered global asset manager with significant emerging-market equity product offerings. Competes for cross-border EM and Asia equity mandates and has the scale to add focused Vietnam strategies.
• Van Eck Associates: Large US ETF and asset manager that has run Vietnam and frontier-EM ETF products (e.g., the historical VNM ETF). A broader incumbent competitor for global allocators seeking Vietnam or EM exposure through listed products.
• Eastspring Investments: Asia-focused asset management arm of Prudential plc offering regional and country-specific equity strategies including Vietnam. A broader incumbent with scale advantages in distribution across Asia institutional clients.
• abrdn (Aberdeen Standard Investments): Global asset manager with long-standing Asia and emerging-market equity franchises. Competes for institutional Asia/EM allocations and has resources to expand dedicated Vietnam sleeves.

Direct peers

• Vietnam Holding Limited: LSE-listed closed-end fund investing primarily in Vietnamese equities, providing offshore institutional investors with Vietnam exposure. Directly comparable to Dragon Capital's VEIL in vehicle structure, distribution channel, and end-investor profile.
• PXP Vietnam Fund: Closed-end Vietnam-focused equity fund listed in London. Competes directly with VEIL for offshore institutional allocations to Vietnamese listed equities.
• VinaCapital: Vietnam-focused asset management group managing multiple onshore and offshore Vietnam equity funds (including the LSE-listed VinaCapital Vietnam Opportunity Fund). Closest direct comparable to Dragon Capital given the same single-country Vietnam franchise and parallel closed-end fund vehicle.

Emerging players

• KraneShares: US-based ETF sponsor that partnered with Dragon Capital to launch the KPHO Vietnam ETF on the NYSE. Both a strategic partner and a comparable emerging player in Asia/EM ETF product design and distribution.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dragon Capital Group