The Australian Government has announced a commitment of up to $10 million to Fund II of Vietnam-based Do Ventures, aiming to strengthen climate-focused investment and support sustainable business growth in the country. The initiative is designed to accelerate funding for startups and small and medium enterprises working on climate solutions and energy transition technologies.
Do Ventures, an early-stage venture capital firm established in 2020, manages a $50 million Fund I and focuses on investing in Vietnamese startups. The new Australian-backed funding marks the first investment under the Australian Development Investments (ADI) Vietnam investment window and is expected to expand support for climate-related innovation in the region.
The investment will target businesses involved in manufacturing, sustainable consumption, and AI-enabled climate solutions. These sectors are seen as critical to Vietnam’s transition toward a lower-carbon economy and improved climate resilience. The initiative also aims to strengthen Vietnam’s emerging climate investment ecosystem by attracting additional private capital into the sector.
A key aspect of the partnership is its focus on gender inclusion in the investment landscape. Do Ventures is a woman-led firm, and the program highlights efforts to address gender disparities in venture capital and private equity, where women remain significantly underrepresented in senior investment roles across emerging markets.
According to the Australian Government, Vietnam accounts for a significant share of ADI’s portfolio, with investments already supporting multiple local enterprises, job creation, improved access to finance for small entrepreneurs, and renewable energy development, including solar capacity expansion.
Australian officials emphasized that the new funding will help mobilize private investment into climate solutions while strengthening environmental, social, and governance practices and impact measurement standards within the investment ecosystem.
The partnership between ADI and Do Ventures reflects a broader strategy to combine climate action with economic development, supporting innovation-driven growth and sustainable development outcomes across Vietnam’s startup and investment landscape.
