Bill & Melinda Gates Foundation Trust has reportedly spent US$12 million increasing its stake in Vietnam Enterprise Investment Ltd (VEIL), local media reported.
The trust now controls 11.34 percent of one of the oldest and largest Vietnam-focused funds, news website VnExpress reported on Wednesday.
With a total asset of $900 million, VEIL now owns many of Vietnam's blue chip stocks such as technology conglomerate FPT, mobile retailer The Gioi Di Dong, dairy giant Vinamilk and major lender Vietcombank.
Established in 2006, Bill & Melinda Gates Foundation Trust functions as the manager of endowment assets for philanthropic Bill & Melinda Gates Foundation, which distributes money to grantees, according to the foundation's website.
The trust foundation's asset was estimated at $39.5 billion at the end of last year, including endowment from billionaire Warren Buffet and shares in his conglomerate Berkshire Hathaway.