ROAD TOWN, BRITISH VIRGIN ISLANDS / ACCESSWIRE / April 3, 2022 / On March 30, 2022, Jade Forest Capital and FundGo announced their $100M agreement in promoting the blockchain field in the Vietnamese and Asian market.
In addition to its wide application in many industries, blockchain technology is also considered a fertile ground for Vietnam’s startup ecosystem. For the past few years, the Vietnamese government has been more and more open to modern technologies, amongst which blockchain is given the highest priority. The Prime Minister’s Decision No. 2117/QD-TTg dated December 16, 2020 emphasized the importance of the research, development, and application of blockchain for Vietnam to participate in the 4th Industrial Revolution, encouraging both official institutions and young entrepreneurs to fully exploit their ideas for the general growth of the country.
Several reputed reports have identified Vietnam as one of the most robust markets with a high level of blockchain adoption and millions of potential institutional and individual investors. This huge capital, however, is being poured out to foreign projects while home-based ones are struggling to survive the intense competition. Vietnam is one of the greatest cradles for blockchain-based projects, yet, the inner resources are still limited, and lacking support from prestigious backers and the international communities has been lowering the chance for them to succeed.
During the course of the Binance Blockchain Week in Dubai, United Arab Emirates, the representatives of Jade Forest Capital and FundGo have met and discussed the pros and the cons of the Vietnamese market. The two parties have reached an agreement worth up to $100M to support blockchain startups in Vietnam as well as issue Ethereum investment certificates to popularize digital asset investment in this country.
The new partnership intends to provide financial assistance and consultancy for early-stage visionary founders. Sharing the same mission of promoting and investing in blockchain projects that advance in the industry and make positive societal impacts, Jade Forest Capital and FundGo primarily target pioneering and high-growth-potential outliers. Both funds always appreciate companies ambitious with founders that want to scale up a firm of global capabilities and credentials.
“Jade Forest Capital is excited to expand our investing business through a partnership with FundGo to sponsor promising startups and SMEs in Vietnam. I believe that we are approaching this dynamic and growing industry with exactly the right vision,” said Tung Nguyen, Jade Forest Capital’s CEO. “Partnership with FundGo will allow us to quickly explore profitable opportunities in Vietnam – one of the fastest-growing markets.”
Eric Vuong, CEO of FundGo noted: “The cooperation will help FundGo get more financial resources from reputable foreign partners like Jade Forest Capital. We attach great importance to investing in blockchain projects in Vietnam, so we highly appreciate their investment experience in this field.”
Both parties believe this is the critical moment for the sector in Vietnam in particular and Asia in general, where there are high-quality startups and SMEs ready for next-level investment and development. This strategic partnership promises to bring benefits not only to both parties but also to potential projects as well as the global-wide development of the blockchain field in Vietnam.
About Jade Forest Capital
Jade Forest Capital is developed by Jade Forest Global Limited – a British Virgin Islands-based private capital fund connecting investors to productive financial and technology projects worldwide. The venture owns over $100 million investments in several traditional fields such as stocks, gold, and commodity and a $100 million blockchain and cryptocurrency portfolio (such as ETH, BTC, NEAR, and other GameFi and Metaverse projects).
More about Jade Forest Capital at: jadeforest.capital
About FundGo
FundGo is a licensed fund for innovative startups in Mekong Delta, Vietnam with the aspiration to become a financial and advisory launchpad that supports pioneering young businesses to be eligible and capable of participating in digital transformation. Thanks to a network of credit partners, investment connection ability, and quality human resources with effective management experience, FundGo will enable young businesses to access investment opportunities.
More about FundGo at: https://fundgo.network/
SOURCE: Business Insider
