US-based publisher International Data Group's corporate venturing group set to expand its successful first fund in Vietnam by committing a further $400m.

IDG Ventures, the corporate venturing division of US-based publisher International Data Group, is expected to raise two Vietnam-focused funds with an aggregate $400m over the next two years.

In an interview with the Vietnam Economic Times, Patrick McGovern, chairman of IDG, said Vietnam’s technology and telecommunications market had become one of the world’s most attractive with annual growth of 20%.

IDG raised its first $100m Vietnam fund in 2004 and has returned an annual 38% per year, the Vietnam Economic…