History
In the early 2000s, Vietnam’s evolution into a modern developing country was starting to take shape. The country was emerging from decades of conflict and the economic reforms that were launched in the late 1980s, commonly referred to as “Doi Moi,” were beginning to have a positive impact.
Creating Prosperity Together
It is an up-and-coming powerhouse. Most people, if they are familiar with Vietnam, know that it is the new tiger economy of Asia
Don Lam
CEO | Founding Partner
From an interview with
Quest Means Business
Recognizing the enormous potential for growth, Don Lam and a small group of partners founded VinaCapital in 2003 to promote Vietnam’s opportunities to international investors.
After raising an initial USD 10 million VinaCapital launched the Vietnam Opportunity Fund, one of the first opportunity funds in Vietnam, investing across asset classes and giving investors access to not just to the limited universe of listed companies (less than 30 companies at the time) but also privately held businesses (including Kinh Do and Hoa Phat Group) and state-owned enterprises undergoing privatisation (including Vinamilk). Our investments have proven instrumental in helping these companies to grow and become market leaders in their respective sectors.
Today, VOF continues to provide the only platform for international institutional and retail investors to access Vietnam’s most promising listed and privately held companies. With ~USD 1 billion assets under management, VOF’s proven investment strategy has consistently delivered solid long-term returns to investors for more than 20 years.
With the implementation of a new set of transformative policies that many are referring to as “Doi Moi 2.0,” Vietnam’s economic evolution continues apace, and VOF continues to be the only fund that gives international investors access to the most compelling opportunities in the market today and tomorrow.
2003: Vietnam Opportunity Fund (VOF) established with USD10m and first traded on the London Stock Exchange’s AIM
2007: Andy Ho becomes portfolio manager
2008: VOF changed its name to the “VinaCapital Vietnam Opportunity Fund”
2011: VOF started Share Buyback Programme
2016: VOF migrated to the Main Market of the London Stock Exchange and became a constituent of the FTSE Russell 250
2017: VOF declared its first dividend
2025: Khanh Vu becomes portfolio manager
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