In June of 2005, during
Vietnam’s Prime Minister Phan Van Khai’s visit to the
United States, the idea of forming a joint venture investment management company was formed. Over the next several months, the partners developed the investment strategy and laid the foundation for the company, which was licensed in January 2006 by the Ministry of Finance. Two months later, BVIM’s first fund, the Vietnam Investment Fund l was initially closed at approximately VND1.1 trillion (US$68.8 million) making VIF l the single largest domestic fund raising in history.
In March of 2007, BVIM officially closes the Vietnam Investment Fund I for investment at a total VND1.5 trillion (US$94.7 million) in committed capital. VIF I’s domestic investor base is comprised of leading Vietnamese firms, including several State-Owned Enterprises (SOEs) and private companies. International investors include institutional investors from
Japan and the
US.
In October of 2007, BVIM launches its marketing campaign to raise Vietnam Investment Fund II, a private investment fund designed for international investors targeting US$ 100 million in commitments. The fund reached the first closing on March 31, 2008 of USD$42 million.
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