To: Mannie who wrote (43913 ) 6/6/2005 4:46:36 AM From: stockman_scott Respond to of 104218 VIETNAM: IDG VENTURES VN OPENS HANOI OFFICE, UNVEILS NEW INVESTMENTS _____________________________ Global News Wire - Asia Africa Intelligence Wire June 6, 2005 Regional News - IDG Ventures Vietnam, the first American technology venture capital fund in the country, officially opened its Hanoi office and announced its investments in two local firms on June 1. The Hanoi office, at Vincom City Towers, will be the centre of IDG Ventures Vietnam's investment operations in northern Vietnam and will also serve as a resource centre for entrepreneurs and startup companies in Vietnam. The Hanoi office will work in close co-operation with the Fund's Ho Chi Minh City office to coordinate its investments activities, including the identification and evaluation of promising companies, due diligence review, and management of portfolio companies. "Hanoi has historically been the cultural, political, and intellectual centre of Vietnam and an exciting area of rapid economic growth and development. It is an exciting environment for early stage, private companies," said Nguyen Bao Hoang, general director of IDG Ventures Vietnam. In conjunction with its official office opening in Hanoi, IDG Ventures Vietnam is also announcing its investments in two companies of the Management Consulting Group, Ltd. (MCG) - VinaGame and VietnamWorks.com/Navigos Group. "We are extremely excited about VinaGame and VietnamWorks.com/Navigos Group as they are two terrific companies with excellent management teams," said Nguyen. IDG Ventures Vietnam is continuing to push forward with its early investments and the progress it has made so far. The fund looks forward to announcing some of its other exciting portfolio companies in the near future. IDG Ventures is a global venture capital firm with more than US$ 1 billion under management and a portfolio of over 125 companies built over the past 12 years. The fund pursues investment opportunities across a broad array of technology industry sectors including enterprise software, communications software, Internet enabling software, wireless technologies and services, IT-related technologies and services, media, and biotechnology. - VnMedia