The investment will support early and growth-stage small and medium enterprises (SMEs), driving Viet Nam'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 Viet Nam 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.
Viet Nam represents 40% of ADI's current portfolio. Across five investment funds, ADI drives growth in 26 Viet Nam-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 Viet Nam, supporting Viet Nam’s energy transition and climate adaptation,” said Australia’s Ambassador to Viet Nam, H.E. Gillian Bird. “This significant commitment will strengthen Viet Nam’s climate investment market to attract more private finance, to drive climate solutions in Viet Nam.”
“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.”
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 250 million AUD impact investment fund, deploying capital and technical assistance to mobilise private investment and deliver climate and gender outcomes at scale.
