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 IDG Ventures invests in Goldsun Focus Media

In the morning of July 13th, IDG Ventures VN announced the investment in 2 companies: Vega Technology Group and Goldsun Focus Media, increased their total investment in Vietnam to 16 companies.

Mr. Nguyen Bao Hoang, General Director of IDG Ventures VN, said: Both Vega Software and Goldsun Focus Media are excellent companies in the market. For all 16 companies invested from 2004 till now, IDG applies the same strategy: support companies to develop business activities, support in capital, in legal basis, in finding partners, in market development and support to list on stock market.

Is it the fastest way to recover IDG’s investment when those companies are listed in stock market?” Mr. Patrick McGovern, Chairman of IDG corporation, answered: “It is not our way, stock market is only one of the channels to recover investment. Besides that, IDG Ventures recovers our investment through value added of our invested companies by finding bigger companies to purchase them.

Mr. Patrick also shared that, at this moment (after 3 year of investment) it is still too early to evaluate the success of 16 companies invested by IDG Ventures. However, Vinagame is their most success investment. IDG Ventures VN is now managing the total capital of 100 millions USD; with the main target is investment in young companies in information technology, communication and telecommunication fields in Vietnam. Globally, IDG Ventures invested in about 150 projects. Some of successful investments are Excite, F5 Networks, Netscape, Spinner.com, VA Linux, Baidu.com...

Mr. Patrick also shared that: in 2007, IDG will introduce a new fund in Vietnam with total capital of around 350 millions USD, and commit to increase their investment in Vietnam to 650 millions USD in 2010.