Under the agreement, VTC Online will spend the funds on strategic areas including the social networking site Go.vn, video game development and distribution, and multimedia and educational content production.
Founded in 2008, VTC Online has become a leading game distributor and has played a significant role in popularising electronic games in Vietnam. It has also exported Vietnamese-made video games to ten countries in Europe and Latin America.
In addition, VTC Online is currently operating the social networking site Go.vn, which boasts approximately 13.5 million registered users so far, and the online payment service VTC eBank.
Since its launch in 2006, the DWS Vietnam Fund has invested in a diversified portfolio of securities in Vietnam with 48.7% of its investment in listed shares and 31.9% in unlisted shares.
The DWS Vietnam Fund has chosen VTC Online as the first unlisted technology firm for investment and is the second fund to pour money into the technology firm after IDG Ventures Vietnam.
This move has increased the ratio of VTC Online’s shares owned by institutional investors to over 60%.
VTC Online plans to list its shares on the stock market for the first time in 2015.
