By Nguyen Thi Bich Ngoc
The fund said it will seek out more LPs to contribute to the total commitments.
The funding will enable Saigoneer to offer multiple language options and more in-depth content, in addition to replicating its formula in other Asian cities.
The state is expected to pass the decree on the VC regulation by the end of the year.
Vietnam is the 41st country to import the Japanese-origin reality show.
This follows two $11 million investments each in construction firm Tasco and FPT Digital Retail
This stake is the balance portion from the auction held in December last year.
IFC may also consider making a nominal equity investment in the company.
A new committee is being set up to help create an environment more conducive to private sector investments.
All proceeds will go to Vincom Retail’s private equity investors and other shareholders.
Founded in 2006, DFJ VinaCapital was one of Vietnam’s first VC funds.