As Vietnam’s only multi-disciplinary investment manager, we are uniquely positioned to create value and share the opportunities and benefits of the country’s growth across every asset class.

Our mission is to discover the best investment opportunities in Vietnam by leveraging our extensive relationships, local investment knowledge, analytical capabilities, and financial expertise.

Our industry-leading professionals cover the full range of traditional and alternative asset classes, including listed equity, private equity, venture capital, fixed income, real estate, infrastructure, and energy.

VinaCapital by Numbers
  • USD4.0b

    Assets Under Management

  • 200+

    Team Members

  • 8

    Diversified Investment Platforms:
    • Listed Equity
    • Fixed Income
    • Private Equity
    • Venture Capital
    • Infrastructure & Clean Energy
    • Real Estate
    • Logistics
    • Carbon Credit

  • 21

    Years’ Experience

Our Vision

Our core values, combined with our global knowledge, local insights, and many years of experience, enables us to deliver outstanding long-term investment results and become the trusted partner for investing in Vietnam for both local and international investors.


VinaCapital is committed to following the highest global corporate governance standards in all business areas, including policies, procedures, and guidelines for ethics, operations, financial control, reporting, and risk management.

We strive to apply these practices in our own company and the companies in which we invest. Our listed funds, which have their own investment mandates, have well-defined controls and board oversight to ensure that fiduciary duties to shareholders and investors are conscientiously fulfilled. We have established policies and procedures to handle potential conflicts of interest, and other ethical issues, fairly and transparently. We follow the regulations of the stock exchanges and the jurisdictions on which our funds trade and operate.

Managing risk is a critical element of the our overall business strategy and has been a key contributor to our success. We have dedicated experts performing strategic economic and political analysis and forecasting, which forms the basis for investment and operating strategies across the company. Risk is managed at the investment, portfolio, and group levels through enterprise-wide risk management processes.

We believe having comprehensive corporate governance policies in place is vital to ensure client, stakeholder, and market trust in the VinaCapital name.


Our compassion for culture and people is evident in the way we conduct business and where we focus our free time and philanthropy. We are proudly active and responsible corporate citizens and remain tirelessly committed to positively impacting the broader community in which we live and work.

The VinaCapital Foundation (VCF) was founded in 2006 and is one of the first foreign philanthropic organizations registered in Vietnam and remains one of the largest and most effective. The Foundation was established to enable companies and individuals to support community activities and demonstrate the importance of philanthropic programs. VCF’s first priority was to improve the lives of children in Vietnam. Today the priorities are to improve the lives of children and their mothers to reduce poverty and build the middle class.

VCF is an American non-profit tax-deductible 501(c)(3) organization licensed as an international NGO in Vietnam implementing development projects in 63 provinces. VinaCapital is VCF’s first funding partner covering VCF’s overhead costs so that one hundred percent of all donations to VCF are dedicated to supporting the VCF’s program beneficiaries. VCF is committed to best business practices as well as the most effective evidence-based program work. The foundation has an international audit performed annually by an international audit firm.

The VinaCapital Foundation’s mission is to work with the government of Vietnam to create healthcare and education solutions that transform the lives of disadvantaged, underserved, and marginalized children and women in Vietnam. The Foundation has grown to be one of the highest impact NGOs focused on national priorities in Vietnam – saving lives, providing access to quality healthcare and education to improve children’s lives, empower women, and reduce poverty. VCF currently has 7 major programs in grassroots medical, health assistance, healthcare capacity building, and education for ethnic minority female students. VCF touches the lives of thousands of Vietnamese every year.

For more information, please visit:

  • At VinaCapital, we leverage our extensive knowledge, networks, and creativity to identify and capitalise on the many opportunities emerging in Vietnam. Responsible investment is something we always strive to achieve, and our internal processes incorporate environmental, social, and governance (ESG) factors into investment decisions to better manage risk and generate sustainable, long-term returns.

  • VinaCapital has become a signatory of the United Nations – supported Principles for Responsible Investment (PRI).

    The PRI is an investor initiative in partnership with the UNEP Finance Initiative and the UN Global Compact. It is the world’s leading proponent of responsible investment and works to understand the investment implications of ESG factors and support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. We publicly commit to adopting and implementing the Principles, which we believe is in our investors’ best long-term interests and contributes to a more long-term oriented, transparent, sustainable, and well-governed investment market.

The Principles for Responsible Investment

We incorporate ESG issues into investment analysis and decision-making processes.

Our investment tools have incorporate ESG criteria to evaluate and monitor those risks as part of our due diligence process. Our research analysis portfolio managers are also active in analysing the potential effects of ESG issues when making investment decisions. This approach is also a key to developing our understanding of each portfolio company.

We are active owners and incorporate ESG issues into our ownership policies and practices.

With our voting rights and our influence as an investor, we play an important role in improving the governance of the companies in which we invest. We engage directly with companies on ESG issues and encourage good governance and sustainable corporate practices.

We seek appropriate disclosure about ESG issues from the entities in which we invest.

We encourage transparency in our discussions around ESG performance with portfolio companies and support the adoption of/adherence to relevant norms, standards, codes of conduct, or international initiatives.

We promote acceptance and implementation of the Principles within the investment industry.

We participate in PRI Platforms, which is a unique private forum that allows signatories to pool resources, share information and enhance their influence on ESG issues.

We work together to enhance our effectiveness in implementing the Principles.

We collaborate with external forums and platforms to share tools, pool resources, and make use of investor reporting as a source of learning.

We report on our activities and progress towards implementing the Principles.

As a PRI signatory, we are required to report on our responsible investment activities annually.

Through the reporting process, we can:

– Evaluate our progress against an industry-standard framework;
– Receive ongoing feedback and tools for improvement;
– Benchmark our performance against peers;
– See the big picture by understanding the state of the market;
– Strengthen internal processes and build ESG capacity;
– Summarise activities for staff, clients, shareholders and regulators.
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For more information about VinaCapital’s approach to responsible investment, you can read our policy here or contact us at

Find additional information about the Principles for Responsible Investment at

The VinaCapital Team

Board of Directors
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Jonathan Choi


Terence F. Mahony, CFA

Vice Chairman

Don Lam

Chief Executive Officer and Founding Partner

Katherine Yip

Non-executive Director

Michael Choi

Non-executive Director

Brook Taylor

Chief Executive Officer — Asset Management and Executive Director

Senior Leadership Team
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Don Lam

Chief Executive Officer

Brook Taylor

Chief Executive Officer
(Asset Management)

Andy Ho

Chief Investment Officer

Thu Nguyen, CFA

Head of Investment

Hieu Do, CFA

Head of Real Estate

Trung Hoang

Head of VinaCapital Ventures

Khoa Nguyen, CFA

Head of Energy and Infrastructure

Eric Levinson

Head of Business Development

Thai Le, CFA

Head of Operations

Diem Ho

Chief Financial Officer

An Le

Chief Human Resources Officer

Linh Vu

Head of Research

Michael Kokalari, CFA

Chief Economist

Thao Cung

General Legal Counsel