On April 1, 2023, Kirin Capital participated in the panel discussion “Decoding the Foreign Investor’s Perspective on Vietnam’s Gaming Market” held at Phu Tho Stadium. The event was part of the Vietnam Game Festival 2023 – GameVerse 2023, co-organized by the Authority of Broadcasting and Electronic Information under the Ministry of Information and Communications, VnExpress, and the Vietnam Game Alliance.
At the panel discussion, Mr. Simon Yu – Director of Kirin Capital’s Game Investment Fund – joined fellow guests Mr. Pham Van Thanh – Director of VTC Game, and Ms. Ealing Ng – Business Director at Aptoide, to explore and analyze the current landscape of Vietnam’s gaming market. Their conversation centered around three key topics: investment trends in the Vietnamese gaming industry; the opportunities and challenges facing foreign investors; and the difficulties local game developers face when seeking funding.
To begin the session, Mr. Pham Van Thanh shared his view that the gaming industry is showing positive signs and is gradually gaining more attention as a serious sector. He noted that industry trends in Vietnam are currently attracting significant interest, especially in areas like blockchain and ChatGPT-powered applications.
Following Mr. Thanh’s remarks, Mr. Simon Yu reaffirmed the strong growth potential of Vietnam’s gaming market, citing several favorable conditions: Vietnam’s rapidly growing economy, a golden population structure, abundant IT talent, and a strong culture of innovation. He also highlighted the Vietnamese government’s increasing support for digital transformation and the game industry specifically, which has laid the groundwork for exporting digital content products.
Representing Kirin Capital, Mr. Yu projected that in the next 3 to 5 years, Vietnam’s domestic gaming industry could surpass $1 billion in revenue, with gamers accounting for over 40% of the population. He added that more Vietnamese-developed games are expected to enter the global market. According to him, this is a golden opportunity and the right time for investors to engage with the Vietnamese gaming ecosystem.
From an investor’s perspective, Mr. Simon Yu also shared his expectations when investing in Vietnamese companies. He emphasized that Vietnam is not only a blockchain hub in Southeast Asia but is also making a growing impact globally. Kirin Capital hopes to identify and nurture more high-potential companies, supporting them through quality products that can lead Vietnamese firms to expand internationally.
Following Mr. Yu, Ms. Ealing Ng provided an analysis of the challenges and advantages for foreign investors entering Vietnam’s gaming market. She also offered several recommendations for Vietnamese companies seeking to export their products to other regions, particularly to European and North American markets.
To conclude the panel, Mr. Simon Yu offered advice to startups and businesses in Vietnam that possess strong talent and market awareness but may lack experience in raising capital. According to him, fundraising remains a significant challenge for many founders, as Vietnam’s primary market is still in its early stages. He highlighted three critical elements: defining a clear direction, finding the right people, and securing appropriate funding. Kirin Capital not only brings capital but also contributes global expertise and resources, helping Vietnamese enterprises refine their products and explore international markets.
“Kirin Capital does not position itself merely as an investment fund, but also as a companion to entrepreneurs — a place for incubation, acceleration, and financial advisory for startup projects,” quoted Mr. Simon Yu.
“Kirin Capital aspires to grow alongside many Vietnamese entrepreneurs, working toward the shared goal: Know Vietnam, Long Vietnam.”