Australia pledges US$10 mil for Vietnam climate-focused businesses
VOV.VN - The Australian Government has announced a commitment of up to US$10 million for venture capital firm Do Ventures Fund II, providing capital for climate-focused Vietnamese businesses and strengthening Vietnam's climate investment market to attract greater private finance.
The investment will support early and growth-stage small and medium enterprises (SMEs), driving Vietnam's energy transition and climate adaptation across manufacturing, sustainable consumption, and AI-enabled climate solutions. It is the first commitment by Australian Development Investments (ADI) under its Vietnam investment window.
By backing Do Ventures, an established woman-led venture capital firm, ADI is helping to address structural barriers, with women representing just 11% of senior private equity and venture capital investment professionals in emerging markets.
Vietnam represents 40% of ADI's current portfolio. Across five investment funds, ADI drives growth in 26 Vietnam-based SMEs, supporting 5,781 jobs, better access to finance for 260,000 small entrepreneurs, and the installation of 19.2 MW of new solar capacity.
“Australia is a trusted, reliable partner for Vietnam, supporting Vietnam’s energy transition and climate adaptation. This significant commitment will strengthen Vietnam’s climate investment market to attract more private finance, to drive climate solutions in Vietnam”, stressed Australia’s Ambassador to Vietnam, H.E. Gillian Bird.
“This commitment allows us to strengthen our portfolio of climate investments and support more Vietnamese founders seeking to pioneer innovative and sustainable climate solutions,” said Vy Le, General Partner of Do Ventures.
“With ADI's catalytic support, our Fund II can enable more startups to scale and create positive climate impact”, Vy added.
ADI will also work with Do Ventures to strengthen its climate investment capabilities, including Environmental Social and Governance practices and impact measurement, to support the fund and its portfolio companies to grow and perform over time.
ADI is the Australian Government’s flagship AU$250 million impact investment fund, deploying capital and technical assistance to mobilise private investment and deliver climate and gender outcomes at scale.
Meet Australia 2026 promotes sustainable partnership opportunities
The Ho Chi Minh City People’s Committee, in coordination with the Ministry of Foreign Affairs, organised the Meet Australia 2026 programme on May 19 to strengthen cooperation between the southern metropolis and Australian partners.
