The world's largest charitable foundation, Bill & Melinda Gates Foundation Trust founded by American billionaire Bill Gates has reportedly poured US$12 million into the Vietnam Enterprise Investment Ltd (VEIL).
The fund has injected capital into VEIL in recent years, increasing its stake in VEIL to 11.34 percent (equivalent to $88 million).
Established in 1995, VEIL that has a long-standing history is Vietnam’s largest investment fund with total assets of US$900 million. VEIL was listed on the Main Market of the London Stock Exchange in July and has become a magnet for foreign investors who have an eye on Vietnam market.
VEIL currently holds shares in leading Vietnamese enterprises including Vinamilk (19.9 percent), Military Commercial Joint Stock Bank (5.98 percent), FPT Trading Group (5.65 percent), PetroVietnam Gas Joint Stock Corporation (4.97 percent), Joint Stock Commercial Bank for Foreign Trade of Vietnam (4.51 percent) and Mobile World Investment Corporation (3.38 percent).
The Bill & Melinda Gates Foundation was established in 2000 by Bill Gates and his wife Melinda, aiming at enhancing health care, reducing extreme poverty and supporting access to advanced information technology in the United States.
The primary financial source of the fund comes from the Bill & Melinda Gates Foundation Trust and endowment from billionaire Warren Buffet. The foundation's current assets are estimated at $39.5 billion.