Lotte begins full-scale startup investment in Vietnam, completes formation of first fund = South Korean report

Lotte Ventures, Lotte Group's corporate venture capital (CVC), announced on the 20th that it will be organizing the Lotte Vietnam Open Innovation Fund in Vietnam.
It is scheduled to be completed. This is the first time that a foreign venture capital (VC) has formed a fund to invest in a startup in Vietnam.
The fund is said to be worth several billion won. Investors are South Korea's Lotte Ventures and Lotte Shopping
Lotte Hotel, Lotte Construction. Lotte Ventures Vietnam will be in charge of fund management. It will be operated for a total of 8 years, with an investment period of 4 years and a payback period of 4 years. The companies to invest in have not yet been decided.
. Lotte Ventures CEO Chung Yong-min said, ``We plan to make full-scale investments in Vietnam in the future.In the startup-related field, there is a possibility that we can grow together with the Korean and Japanese markets.''
It's expensive.'' According to Vietnam's National Innovation Center, the number of local startups in 2021 was 683,000, an increase of 35% compared to five years ago. But V
Many startups fail to grow beyond their early stages due to a lack of C. In the future, Lotte Group will prioritize fields that are highly related to group companies, such as distribution, finance, and construction.
It is expected that the company will make significant investments.