VinaCapital Investment Management

What VinaCapital Investment Management does

VinaCapital Investment Management is a privately held Vietnamese investment management and real estate development group founded in 2003 and headquartered in Ho Chi Minh City, with additional offices in Hanoi and Singapore. The firm operates as Vietnam's only multi-disciplinary investment manager, deploying approximately USD 3.8 billion in assets under management across seven asset classes — listed equity, fixed income, private equity, venture capital, infrastructure and clean energy, real estate, and carbon credit — served by 200+ investment professionals. Its vehicle roster includes the LSE-listed VinaCapital Vietnam Opportunity Fund (VOF), the Luxembourg-domiciled Forum One VinaCapital Vietnam Fund (VVF) UCITS product, eight onshore open-ended funds (VDEF, VEOF, VESAF, VMEEF, VIBF, VFF, VLBF, plus wealth builder), three ETFs on the Ho Chi Minh Stock Exchange (VN100, VN50 GROWTH, VNMITECH), segregated managed accounts for ultra-HNWIs (VIPS, VND 25 billion minimum), and investment-linked products embedded with Generali Life, Hanwha Life and Chubb Life insurance policies.

The business model is asset-management-fee driven: recurring management fees ranging from 0.67% to 2.0% per annum depending on vehicle, supplemented by performance fees on selected structures and segregated-account fees. Distribution is multi-channel: international institutional access via LSE and UCITS fund platforms (Allfunds, Clearstream, Fundsettle/MFEX, Attrax, FFB); domestic institutional and retail access via HOSE-listed ETFs through authorized-participant securities firms (Bao Viet, BIDV, KIS, Viet Capital, HCMC Securities), direct segregated-account sales, and the proprietary VinaCapital MiO web/mobile platform for self-serve retail subscriptions and redemptions. Beyond fund management, the group operates operating subsidiaries VinaLiving (boutique residential real estate), VinaCapital Ventures (USD 100M VC platform), VinaCarbon (carbon-credit investments), and joint interests in SkyX Solar (with EDF Renewables) and a 3GW LNG project (with GS Energy).

Strategically, VinaCapital is repositioning itself from a traditional multi-asset manager into a central node in Vietnam's emerging financial infrastructure. Recent moves include USD 2 billion AI/cloud infrastructure consortium commitments with G42, Microsoft, FPT and Viet Thai at Saigon Hi-Tech Park, leadership of a USD 1 billion digital-asset fund for the newly launched Vietnam International Financial Centre (VIFC-HCMC), co-leadership of Ho Chi Minh City's USD 20M public-private venture capital fund (targeting USD 200M by 2035), a USD 2.47 billion HCMC-Long Thanh airport metro PPP consortium with DonaCoop, and partnerships with A.P. Moller Capital (logistics) and Export Development Canada (cross-border trade). The firm holds UN PRI signatory status since 2018 and was awarded "Best Asset Management Company" and "Best Equity Manager" in Vietnam by Asia Asset Management in 2026.

Name

VinaCapital Investment Management

Legal name

VinaCapital Fund Management Joint Stock Company

Website

http://www.vinacapital.com/

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

akta.pro secondary industries

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI), Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ)

Keywords

• Asset management
• Investment management
• Private equity
• Venture capital
• Wealth management

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees: Management fees charged as percentage of assets under management across offshore funds (VOF, VVF), onshore open-ended funds (VDEF, VEOF, VESAF, VMEEF, VIBF, VFF, VLBF), and ETFs (VN100 ETF, VN50 GROWTH ETF, VNMITECH ETF). Fee rates range from 0.67% to 2% per annum depending on fund type.
2. Performance Fees: Performance-related fees based on investment returns, typically charged alongside management fees for certain fund structures.
3. Segregated Account Management: VinaCapital Investment Portfolio Services (VIPS) managed account product for high net worth individuals with minimum investment of VND25 billion, generating fee income for portfolio management services.
4. Insurance Linked Products: Investment-linked plan (ILP) management for insurance providers including Generali Life, Hanwha Life, and Chubb Life, with portion of premiums invested in VinaCapital-managed funds.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

VinaCapital Investment Management is Vietnam's only multi-disciplinary asset manager, managing approximately USD 3.8 billion across seven asset classes: listed equity, fixed income, private equity, venture capital, infrastructure and clean energy, real estate, and carbon credit. Its product portfolio includes offshore funds (VOF on LSE, VVF UCITS), onshore open-ended funds, exchange-traded funds, segregated managed accounts, insurance-linked products, a venture capital platform, and a digital self-service platform (MiO). The firm serves institutional investors, high net worth individuals, insurance companies, and retail clients through direct sales, fund platforms, authorized participants, and digital channels.

Differentiator

Problem solved

Functional benefit

Brands

• VinaCapital MiO: Digital platform for managing open-ended fund investments, available on web and mobile
• VinaCarbon
• VinaCapital WealthBuilder
• VinaCapital Ventures

Products and services

• VinaCapital Vietnam Opportunity Fund (VOF) FTSE 250 closed-end fund listed on the London Stock Exchange providing international institutional and retail investors direct access to Vietnam-focused investment exposure across multiple asset classes.
• Forum One – VinaCapital Vietnam Fund (VVF) Luxembourg-domiciled UCITS-compliant open-ended fund providing regulated international investors (across UK, Germany, Switzerland, Austria, Sweden, Netherlands, France, Singapore) with diversified exposure to Vietnamese equities.
• VinaCapital Discovery Equity Fund (VDEF) Open-ended equity fund focusing on mid and small-cap Vietnamese stocks, targeted at domestic investors seeking growth exposure.
• VinaCapital Leading Enterprise Equity Fund (VEOF) Onshore open-ended equity fund targeting leading enterprises in Vietnam for domestic investors.
• VinaCapital Strategic Growth Equity Fund (VESAF) Onshore open-ended equity fund focused on strategic growth investments in Vietnamese equities.
• VinaCapital Modern Economy Equity Fund (VMEEF) Onshore open-ended equity fund targeting companies benefiting from Vietnam's modern economy transformation.
• VinaCapital Integrated Balanced Fund (VIBF) Onshore open-ended balanced fund providing integrated equity and fixed income exposure across the Vietnamese market.
• VinaCapital Enhanced Fixed Income Fund (VFF) Open-ended bond fund focusing on principal preservation with twice-weekly trading, targeted at conservative Vietnamese fixed income investors.
• VinaCapital Liquidity Bond Fund (VLBF) Liquidity bond fund with daily liquidity and no minimum investment, designed for short-term cash management by Vietnamese investors.
• VINACAPITAL VN100 ETF (FUEVN100) Exchange-traded fund tracking the VN100 index with daily trading on Ho Chi Minh Stock Exchange (HOSE), providing broad market exposure to Vietnamese equities.
• VINACAPITAL VN50 GROWTH ETF (FUEVN50G) Vietnam's first strategic-beta ETF tracking the VN50 GROWTH Index, listed on Ho Chi Minh Stock Exchange, providing exposure to large and mid-cap growth stocks.
• VINACAPITAL VNMITECH ETF (FUEMITEC) Vietnam's first strategic-beta ETF tracking an index focused on industrial, technology, and materials companies expected to benefit from Vietnam's economic transformation.
• VinaCapital Investment Portfolio Services (VIPS) - Segregated Accounts Bespoke segregated managed account product for ultra-high net worth individuals with minimum investment of VND 25 billion per contract, providing customized investment strategy with separate sub-account records over a 12-month auto-renewing term.
• Insurance Linked Products (ILP) Investment-linked plan management services for life insurance providers (including Generali Life, Hanwha Life, Chubb Life), where a portion of policyholder premiums is invested in VinaCapital-managed funds.
• VinaCapital WealthBuilder Long-term savings plan solution designed for corporate employees, providing systematic investment program (VinaSIP) into VinaCapital-managed funds.
• VinaCapital MiO Digital Platform Digital web and mobile application enabling investors to manage fund portfolios, place subscription and redemption orders, access fund factsheets and NAV reports, and utilize investment education materials.
• VinaCapital Ventures USD 100 million Vietnam-focused venture capital platform investing in technology companies as an alternative investment vehicle.
• VinaLiving Wholly-owned real estate development brand focused on boutique resort-style residential developments in Vietnam.
• VinaCarbon Wholly-owned sustainable investment platform focused on green transition and carbon credit opportunities in Vietnam.
• SkyX Solar Joint venture with EDF Renewables for rooftop solar installations (100MW operational, 200MW pipeline) and 500MW onshore wind projects in the Central Highlands of Vietnam.

Quantifiable outcome

• VINACAPITAL VN50 GROWTH ETF gained approximately 15.7% between IPO closing date and May 31, outperforming benchmark VN-Index's 10.7% increase
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature2 records

Partnerships

16 partnerships are on record, tiered core and minor.

• Kredivo GroupcoreStrategic or Co-development Partner · 5 May 2026Phoenix Holdings and VinaCapital retained significant minority stakes in Timo Digital Bank following Kredivo Group's 100% acquisition of Vietnam's first digital banking platform. Both partners joined the board of the enlarged Kredivo Vietnam business.
• Vietnam International Financial Centre (VIFC-HCMC)coreStrategic or Co-development Partner · 11 February 2026VinaCapital as founding member and strategic investor in VIFC-HCMC, a newly launched financial hub featuring major Vietnamese banks, investment firms, and technology companies. Centre recorded committed capital of $6.1 billion for aviation finance and $1 billion for digital asset fund.
• Global On-chain Economy AlliancecoreStrategic or Co-development Partner · 11 February 2026Consortium led by VinaCapital and Global On-chain Economy Alliance signed deal to build regional-scale on-chain ecosystem including $1 billion digital asset investment fund for VIFC-HCMC.
• Sovico GroupminorStrategic or Co-development Partner · 11 February 2026Founding member of Vietnam International Financial Centre (VIFC-HCMC) along with VinaCapital, MBBank, TPBank, SHB, and TikTok.
• TikTok (ByteDance)minorStrategic or Co-development Partner · 11 February 2026Founding member and strategic investor of Vietnam International Financial Centre (VIFC-HCMC) financial hub.
• Ho Chi Minh City People's Committee / VIFC AuthoritycoreStrategic or Co-development Partner · 11 February 2026VinaCapital as founding investor in Vietnam International Financial Centre (VIFC-HCMC) established by HCMC People's Committee, with committed capital including $6.1 billion for aviation finance centre.
• G42 Group (Abu Dhabi)coreStrategic or Co-development Partner · 8 February 2026Consortium partnership to develop hyperscale AI and cloud infrastructure in Vietnam with full data sovereignty. Project valued at up to $2 billion targeting cloud service customers across Asia and globally. Deploying significant cloud capacity across three data centre locations.
• Viet Thai GroupcoreStrategic or Co-development Partner · 8 February 2026Consortium partner in hyperscale AI and cloud infrastructure development project valued at up to $2 billion in Vietnam, partnering with G42, FPT Corporation, and VinaCapital.
• A.P. Moller CapitalcoreStrategic or Co-development Partner · 3 September 2025Strategic partnership and investment in ALS Cargo Terminal through A.P. Moller Capital in cooperation with VinaCapital, marking A.P. Moller Capital's entry into Vietnam's logistics sector.
• DonaCoopcoreStrategic or Co-development Partner · 28 August 2025Consortium approved by Dong Nai province People's Committee to submit investment proposal for 38.5km metro line linking HCMC with Long Thanh International Airport under PPP model. Project estimated at VND65 trillion ($2.47 billion).
• Export Development Canada (EDC)minorStrategic or Co-development Partner · 14 August 2025MOU signed to expand Canada-Vietnam business and trade ties, supporting bilateral investment flows and trade development between the two countries.
• Microsoft CorpcoreTechnology or Integration · 10 July 2025Partnership in $2 billion hyperscale data center project in Ho Chi Minh City, designed as AI factory targeting cloud service customers across Asia. Consortium includes G42, FPT Corporation, VinaCapital, and Viet Thai Group.
• FPT CorporationcoreStrategic or Co-development Partner · 10 July 2025Consortium partner in $2 billion hyperscale AI data center project in Ho Chi Minh City. Project designed as AI factory targeting cloud service customers across Asia and globally.
• EDF RenewablescoreStrategic or Co-development PartnerJoint venture with EDF Renewables for SkyX Solar (rooftop solar, 100MW operational, 200MW pipeline) and 500MW onshore wind projects in Central Highlands Vietnam.
• GS EnergycoreStrategic or Co-development PartnerJoint development of 3GW LNG power plant in Long An province, converting previously approved coal-fired power plant project as part of Vietnam's energy transition.
• Edmond de Rothschild Asset Management (Luxembourg)coreImplementation/ SI/ Consulting PartnerManagement company for Forum One VinaCapital Vietnam Fund (VVF) UCITS fund, providing institutional fund administration and depositary services.

Scale indicators7 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• VietFund Management (VFMVF1/VFMVFA): Local Vietnamese asset manager running flagship VFMVF1 and related funds, competing for the same domestic institutional and retail capital as VinaCapital's onshore fund range.
• Eastspring Investments Vietnam Fund Management: Prudential-affiliated asset manager operating the Eastspring Investments Vietnam Fund Management JSC, competing in the same onshore equity and balanced fund categories and through insurance-linked distribution channels.
• Mirae Asset Vietnam: Part of the regional Mirae Asset network, managing Vietnam equity and balanced funds distributed to retail and institutional investors, directly overlapping VinaCapital's VEOF, VESAF and VIBF products.
• Manulife Investment Management (Vietnam): Operates Manulife Investment Fund Management (Vietnam) with open-ended equity, balanced and bond funds, competing head-to-head with VinaCapital's onshore OEF lineup and the VinaCapital WealthBuilder corporate savings product.
• PVI Asset Management (PVIAM): One of the largest Vietnam-domestic asset managers and a co-investor alongside VinaCapital in the SHB private placement; overlaps in fixed income, equity and institutional mandates.
• SSIAM (Samsung Securities Investment Management): Vietnamese asset manager affiliated with Samsung Securities, offering equity, bond and balanced funds — a direct onshore competitor with comparable product breadth to VinaCapital's open-ended fund family.
• KIM Vietnam Fund Management: Korea Investment Management's Vietnam vehicle, distributing onshore funds to both Korean institutional flows and local investors — a directly comparable foreign-affiliated peer.
• Dragon Capital: Vietnam-focused multi-asset manager operating DCVFM, VEFF, DFIX and a UCITS Vietnam fund — the closest direct competitor in both offshore and onshore Vietnam mandates, and a co-investment partner of VinaCapital in the SHB placement.

Broad incumbents

• DWS Vietnam (formerly Deutsche Asset Management Vietnam): Global asset manager with Vietnam-focused strategies and Vietnam ETFs/funds available internationally, competing with VinaCapital's offshore LSE-listed VOF and UCITS VVF in the cross-border channel.
• VanEck / Fubon — Vietnam ETFs: International ETF sponsors (VanEck Vietnam ETF, Fubon FTSE Vietnam ETF) that offer passive Vietnam exposure globally and compete with VinaCapital's newly-launched strategic-beta ETFs for the same cross-border allocator.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/vinacapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments9 records

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

Frequently asked questions about VinaCapital Investment Management