Oakland – October 13, 2026 -- The Vietnamese American Business Association (VABA) reports a network of more than 2,200 professionals and 720 businesses across 12 U.S. states and eight countries as it marks 15 years since its 2011 founding, and says its VABA Venture Capital arm is backed by $50 million from the Duong family office.
Founder and chairman David Duong built the group after launching a California recycling business and investing in Vietnam. His family arrived in the Bay Area in 1979 as refugees and started by collecting and selling cardboard and other recyclables. That work led to California Waste Solutions, founded in 1992, which expanded into municipal recycling services in Oakland and San Jose.
VABA Venture Capital launched in 2024 with $50 million from the Duong family office
According to the association, the fund sits alongside introductions to outside venture capital firms, family offices, angel investors and established business leaders. VABA's Pitch Perfect startup competition also began in 2024. Its fourth season, held in Orange County in September 2025, drew more than 260 founders, investors and business leaders. Ten startups pitched onstage and another 20 joined the showcase, according to VABA's event recap.
VABA says many founders have secured funding through relationships formed in the association. The source does not give figures for deals or capital raised.
Duong's Vietnam waste-treatment investment dates to a 2005 license
Duong's company secured an investment license in 2005 for the Da Phuoc Integrated Solid Waste Facility near Ho Chi Minh City, which began operating in 2007. VietNamNet has described him as a pioneer in Vietnam's waste-treatment sector. In a 2021 Thanh Niên interview, he said he created VABA to strengthen Vietnamese American business owners' standing in the United States and to encourage investment and commercial ties with Vietnam.
Tay Ninh Province officials met U.S. investors at an April 2026 Oakland forum
Representatives from Vietnam's Tay Ninh Province met U.S. business and civic leaders at the U.S.–Vietnam Business Investment Forum in Oakland to discuss investment, industrial development and cross-border partnerships. In June 2024, a Philippine Chamber of Commerce and Industry delegation visited VABA to discuss potential trade and investment partnerships.
At home, VABA held a May 2024 workshop with Umpqua Bank where business owners spoke with commercial bankers about financing and loan preparation.
Duong lobbied officials on pandemic relief and commercial-district safety
In a 2022 Thanh Niên interview, Duong described asking government representatives about financial relief for Vietnamese-owned businesses during the COVID-19 pandemic. He also described discussing safety in Oakland and San Jose commercial districts with police. The Asian American Prosecutors Association gave him its Outstanding Community Advocate Award in 2017.
"The mission has always been support, advocacy, and networking," Duong said.
Charitable giving includes $51,000 for 2020 flood relief in central Vietnam
Duong reported in 2021 that VABA contributed $51,000 to a 2020 flood-relief appeal in central Vietnam. The first two VABA–South Bay Golf Alliance charity tournaments raised and donated more than $36,000 for Vietnamese-language education and cancer-related causes, according to the organizers. VABA and California Waste Solutions have also backed the LoveLife Foundation's college scholarship drive in Oakland.
In May 2025, VABA hosted "Gratitude to America," a celebration of 50 years of Vietnamese American history that drew more than 300 business leaders, elected officials, entrepreneurs and community members.
The documentary The King of Trash, which chronicles the Duong family's refugee experience and recycling businesses, expanded its U.S. tour to 12 screening events with more than 5,000 tickets sold, according to the production team.