Nguyen Bao Hoang (L), general director of IDG Ventures Vietnam, present a token check to Ngyen The Tan, acting general director of VC Corporation (R), in Hanoi Tuesday By HA VAN (SGT-HCMC) IDG Ventures Vietnam, a venture capital pioneer in the country, announced on Tuesday that it had invested US$2 million in local communication firm VC Corporation. The investment is regarded as IDG’s commitment to support local information technology development following its investments in Goldsun Focus Media and Vegas in June this year. Nguyen Bao Hoang, general director of IDG Ventures Vietnam, said in a statement that VC Corporation has potential in the local communication market. IDG would boost their business by increasing investment capital, allowing them to seek more partners. Hoang said this was IDG Ventures’ biggest investment in a Vietnamese company since its establishment. VC Corporation now owns and operates a series of innovative online products, such as the search engine Baanboo.com; the classified listing platform Rongbay.com and the online flash-game hub Socvui.com. IDG Vietnam, a unit of International Data Group, and VC also introduced a brand-new department which is a hi-tech idea incubating hub under VC’s operation. The center will help to identify, nurture and invest in innovative ideas, projects or solutions in the fields of technology and communications technology.   VC Corporation also launched a new education service called Baamboo Tra Tu. It is a free online dictionary containing 900,000 words and phrases, based on 8 different dictionaries. Nguyen The Tan, acting general director of VC Corporation, said that by basing Baamboo Tra Tu on open source code, the service would allow users to freely utilize, copy, distribute and modify online content. His company is offering the service free of charge. IDG Ventures Vietnam is an early stage venture capital firm that enables entrepreneurs to develop innovative, global companies. With US$100 million under its management, the firm is focusing on investing in high potential, high growth companies in the technology, media and telecom sectors. Active in Vietnam since 2004, the firm has invested in Vietnam technology and communication companies, including VinaGame, VinaPay, iSphere, Goldsun Focus Media, Vega and MSS.