Ho Chi Minh City plans to set up a $20-million venture capital fund to address funding shortages among startups and accelerate technology commercialisation, while the Indonesian unit of Malaysia-based CIMB Group, PT Bank CIMB Niaga Tbk, has established a new subsidiary, SL Capital, aimed at participating in Indonesia’s secondary market for non-performing loans (NPLs).
Ho Chi Minh City to launch $20m VC fund
Ho Chi Minh City plans to set up a $20-million venture capital fund to address funding shortages among startups and accelerate technology commercialisation.
The initiative was approved under a project issued by the city’s People’s Committee on March 4.
The fund will start with VND200 billion (40%) from the city budget and VND300 billion from private investors. It has a maximum 10-year divestment roadmap for each investment, preferably through IPOs or mergers and acquisitions.
Founding shareholders expected to participate include Sovico Group, Vingroup, VinaCapital, Becamex IDC, VNG Corporation, FPT Corporation, CT Group, Hoa Sen Group, and Lotte Ventures.
The city is home to nearly 50% of Vietnam’s startups, but over 70% report facing capital constraints. Authorities and founding investors are completing legal procedures to register the Ho Chi Minh City Venture Capital Fund JSC this month.
The fund will invest in startups and tech firms in sectors such as AI, big data, blockchain, semiconductors, biotechnology, renewable energy, and robotics.
By 2035, it aims to back 50–150 companies and support the commercialisation of at least 50 technologies, while helping create five large tech firms capable of pursuing IPOs or M&A.
Recently, Hanoi has also officially launched the Hanoi Innovation Centre (HIC) as it steps up efforts to position itself as a regional innovation hub.
CIMB Niaga sets up NPL-focused unit
The Indonesian unit of Malaysia-based CIMB Group, PT Bank CIMB Niaga Tbk, has set up a new subsidiary aimed at participating in Indonesia’s secondary market for non-performing loans (NPLs), according to a disclosure filed with the Indonesia Stock Exchange.
It formed PT Satyaguna Langgeng Capital (SL Capital) and injected Rp200 billion (about $11.8 million) in cash into the entity on March 3. The subsidiary was set up to support the development of Indonesia’s NPL secondary market and help strengthen the bank’s financial ratios.
SL Capital was established through a deed signed on January 19, 2026, and later registered with the Ministry of Law and Human Rights in February.
Under the shareholding structure at the time of incorporation, CIMB Niaga holds a 99.99925% stake in the company, while PT Commerce Kapital owns the rest.
CIMB Niaga said the subsidiary will focus on developing Indonesia’s secondary market for distressed loans while supporting improvements in banking sector financial ratios. Over time, the unit is also expected to contribute positively to CIMB Niaga’s consolidated financial performance.
The capital participation had previously received approval from Indonesia’s Financial Services Authority (OJK) in November 2025.
