• In its 25th Anniversary Year Dragon Capital Group’s AUM is $3bn with 110 management and staff. Its mission remains unchanged to be a top class intermediator of capital by providing attractive returns to investors, value to companies, and a desirable workplace for employees. To perform these with absolute professionalism and integrity, driven by a long term commitment to the sustainable development of the environment, society and economy of Vietnam.
  • H.E. Dasho Tshering Tobgay, Former Prime Minister of the Kingdom of Bhutan delivered a Keynote Address at the reception celebrating Dragon Capital’s 25th Anniversary, took place at GEM Centre in Ho Chi Minh on 26 September 2019. It was a truly unforgettable and honoured night for all participants to hear the concept of Gross National Happiness (GNH) and the relationship between measure wellbeing and macroeconomic indicators. GNH has been used to guide public policymaking in the Kingdom of Bhutan and applied as certification tool for business.

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  • Dragon Capital launches biodiversity economics chair to price ecosystems. Over the next five years, Dragon Capital and the University of Exeter will together commit £1.6mn to fund the new position which will look to address the central question of how individuals and organisations value natural resources.


  • Launch of Vietnam Co-Investment Fund (“VCF”)


  • Launch of Vietnam IPO/Placing Platform (“IPOPP”)


  • VEIL FTSE 250 inclusion
  • VEIL LSE listing
  • Dragon Capital is managing assets worth US$1.6bn and has 97 staff based in Ho Chi Minh City, Hanoi, London, Bangkok and Hong Kong.


  • Vietnam Growth Fund and Vietnam Enterprise Investments Ltd merge into one fund


  • Our twentieth anniversary. Per capita GDP in Vietnam is now over US$1,000, an almost ten-fold increase in twenty years!


  • Launch of Dragon Capital Developing Markets Strategies p.l.c (“DC DMS”) – Vietnam Equity (UCITS) Fund (“VEF”) and Dragon Capital Semeru Asia Equity High Yield Fund (“DC Semeru”)


  • Vietnam surpasses Brazil to become the world’s largest coffee exporter.


  • Launch of Mekong Brahmaputra Clean Development Fund (“MBCDF”).
  • Our Hong Kong office opens. Dragon Capital Management (HK) Limited with SFC license (Type 4 & 9)


  • Launch of Vietnam Property Fund Limited (“VPF”).
  • Launch of the Annual Report Awards.


  • Vietnam joins the World Trade Organization (“WTO”) becoming the 150th member.
  • Dragon Capital’s team now numbers 64.
  • Launch of Vietnam Resources Investments (Holdings) Limited (“VRI”) and Vietnam Debt Fund SPC (“VDeF”).
  • Dragon Capital acquires 23% of micro-finance company Prasac, our first investment in Cambodia.


  • Dragon Capital Markets (Europe) Limited is licensed by Financial Services Authority (“FSA”)


  • Hanoi Stock Exchange (HNX) opens
  • Proparco invests in Dragon Capital.


  • Launch of our Vietnam Growth Fund Limited (“VGF”).
  • The first commercial flight from the US to Vietnam in over two decades touches down.


  • VietFund Management (“VFM”) and Ho Chi Minh City Securities Corporation (“HSC”) are established.


  • International Financial Corporation invests in Dragon Capital.


  • Ho Chi Minh Stock Exchange (HSX) opens.
  • Vietnam signs the Bilateral Trade Agreement (BTA) with the US which spurs economic growth.


  • The Asian Financial Crisis erupts, many Asian economies falter, their markets fall by up to 70% and currencies fail. Vietnam with its non-convertible currency is less badly hit. Other Vietnam funds go under, however, and VEIL is the only one to survive.


  • Our Vietnam Enterprise Investments Fund Limited (“VEIL”) is launched and remains the original and longest-running Vietnam fund.
  • Vietnam becomes a full member of ASEAN.


  • Dragon Capital is formed in Ho Chi Minh City with a team of six.
  • President Clinton lifts the 19-year trade embargo against Vietnam, in place since the end of the Vietnam War.
  • Vietnam GDP per capita is US$227 and the country has no stock market.