The International Data Group (IDG) will open two venture investment funds totaling $400 million in the field of information technology in Vietnam, revealed IDG Chair, Patrick J. McGovern.

The International Data Group (IDG) will open two venture investment funds totaling $400 million in the field of information technology in Vietnam, revealed IDG Chair, Patrick J. McGovern.

IDG established a venture investment fund in Vietnam named IDG Venture Vietnam in 2004. The fund’s director, Nguyen Bao Hoang, said the initial capital of $100 million has been invested in private telecom, media and technology firms.

Next year, revealed McGovern, IDG will open its second venture fund worth $150 million. This fund will focus on investment in new companies that have operated for one or two years, and also have potential for development, but face capital shortages.

The third fund with $250 million of capital will be inaugurated in 2012. Its targets are companies that have operated for at least two years and have good brand products on the market. This fund may invest in other fields like healthcare and retail.

IDG is one of the leading technology media companies in the world and its globally-branded product lines reach more than 200 million technology consumers in 92 countries.

IDG owns the IDG Ventures network, comprised of six independent partnerships managing funds in North America and Asia.

PV