The Vietnam-based digital advertising company is using its Novaon Fund unit to expand its operations by incubating and investing in local startups.
Vietnam-based internet company Novaon launched a $5m corporate venturing unit in 2015 called Novaon Fund, DealStreetAsia has reported.
Founded in 2006, Novaon’s core business revolves around digital advertising but it is using the fund to help grow itself into a more diversified internet business.
Novaon Fund operates both as an incubator and an early-stage investor, and takes a stake of around 50% in each startup, a measure perhaps of how much they depend on the firm’s resources.
Nguyen Minh Quy,…
