<article>Hong Kong-based venture capital firm <a href="https://www.dealstreetasia.com/tag/hendale-capital/">Hendale Capital</a> is &#8220;contemplating launching a Vietnam-focused fund&#8221;, its managing partner Henry Lee told DEALSTREETASIA.</article>

Hong Kong-based venture capital firm <a href="https://www.dealstreetasia.com/tag/hendale-capital/">Hendale Capital</a> is &#8220;contemplating launching a Vietnam-focused fund&#8221;, its managing partner Henry Lee told DEALSTREETASIA.
He declined to comment on the timing or target corpus being considered. Sources in the venture capital industry said the firm&#8217;s potential vehicle dedicated to the Southeast Asian country is expected to target raising around $10 million.
The Hong Kong-based investment firm made its first bet in Vietnam when it backed OTA startup VNTrip&#8217;s $10-million Series B round in 2017. The Vietnamese booking platform last announced a funding round in August 2018, which was backed by Switzerland’s IHAG Holding and valued the business at around $45 million.
VNTrip is the only Vietnamese company in Hendale Capital&#8217;s portfolio to date. The venture capital firm has also provided growth capital to businesses in the US and Asia, including Survey.com, NinePoint Medical, oil and gas firm Twinza, Australian grocery delivery startup YourGrocer, IoT company EnergyBox, motion correction technology company KinetiCor, and budget accommodations platform <a href="https://www.dealstreetasia.com/tag/reddoorz/">RedDoorz</a>.
Founded in 1995 by Lee, Hendale Capital typically commits initial capital in the region of $1-15 million, it says on its website.
“Our time horizon is longer than traditional PE/VC funds, and our structures are flexible to support companies, founders, and other constituents,&#8221; it said.
In Vietnam, VinaCapital-DFJ and IDG Ventures Vietnam were the first to launch country-dedicated venture capital funds. It was a decade later that Vietnam welcomed more such funds, including <a href="https://www.dealstreetasia.com/stories/500-startups-exceeds-targets-to-close-vietnam-fund-at-14m-111461/">500 Startups&#8217; $14-million vehicle</a>, <a href="https://www.dealstreetasia.com/tag/esp-capital/">ESP Capital</a>, <a href="https://www.dealstreetasia.com/tag/vinacapital-ventures/">VinaCapital Ventures</a>, Viet Capital Ventures, Velocity Ventures Vietnam and Teko Ventures.
In addition to a spate of regional investors who have been active in this market for several years, other players have recently made their first-ever deals in Vietnam such as <a href="https://www.dealstreetasia.com/tag/insignia-venture-partners/">Insignia Venture Partners</a>, <a href="https://www.dealstreetasia.com/tag/alpha-jwc/">Alpha JWC</a>, <a href="https://www.dealstreetasia.com/tag/fenox-venture-capital/">Fenox</a>, and <a href="https://www.dealstreetasia.com/tag/kk-fund/">KK Fund.</a>
Vietnamese companies pocketed nearly $2.3 billion in private equity and venture capital investments in 2018, according to data compiled by DEALSTREETASIA. Of these, local tech companies raised $890 million in funding, a three-fold year-on-year increase, according to a report by Topica Founder Institute.
Also read:
<a href="https://www.dealstreetasia.com/stories/vietnam-vc-2018-114929/">2018 in review: Vietnam finds increased venture capital favour</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietnamese-tech-startups-corner-890m-investment-in-2018-117769/">Vietnamese tech startups corner $890m investment in 2018</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/500-startups-exceeds-targets-to-close-vietnam-fund-at-14m-111461/">500 Startups exceeds targets to close Vietnam fund at $14m</a>

The Hong Kong-based investment firm made its first bet in Vietnam when it backed OTA startup VNTrip's $10-million Series B round in 2017.

Hong Kong-based Hendale Capital mulls Vietnam-focused fund

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Hong Kong-based Hendale Capital mulls Vietnam-focused fund

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