• 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.
  • 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.


  • 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.