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Tag: Vntrip

  • Investment in Vietnamese startups triples in 2018

    Investment in Vietnamese startups rose to $889 million in 2018, three times that of 2017. According to a report recently released by Topica Founder Institute (TFI), a startup accelerator program in Vietnam and Thailand run by Hanoi-headquartered multinational educational technology company Topica, 92 investment deals totalling $889 million were struck in 2018.

    Domestic funds invested over $500 million, over half of total investments in startups, director of TFI Mai Duy Quang said. “This means that domestic funds are paying more attention [to Vietnamese startups], and that there is an abundance of domestic capital available for startups right now.”

    Of these, the top 10 investments alone totaled $734 million, accounting for 83 percent of the total value of all investments in startups. The three biggest deals were made by Vietnamese multichannel media giant Yeah1 ($100 million), e-commerce company Sendo ($51 million) and tech education company Topica ($50 million).

    The five most profitable fields for startups were fintech, e-commerce, traveltech, logistics and edtech. Fintech returned to the top spot in investment volume in 2018 with 8 deals totaling $117 million.

    In second place was e-commerce, which saw just 5 deals worth around $104 million, down from 21 deals in 2017. Traveltech (technology services related to tourism) was an unexpected third, with 8 deals worth $64 million by online hotel booking service Vntrip, homestay platform Luxstay, cheap flight booker Atadi, and business to business travel network Vleisure.

    Logistics and edtech fields respectively attracted 3 and 4 deals worth a combined $50 million.

    “Vietnam is a vibrant startup market full of potential for breakthroughs if proper investments are made,” said Yinglan Tan, founder of Insignia Venture Partners.

    According to the TFI report, startups struck 92 investment deals in 2017, too, but the total investment capital was just $291 million.

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  • Foreign funds pour money into Vietnamese startups

    Foreign funds pour money into Vietnamese startups

    John Wu has been the ‘technology pillar’ of Alibaba for almost 10 years. The former technology director and a leading group of investors have poured nearly $3 million into Vntrip.vn – a Vietnamese startup operating in online hotel reservations.

    Le Dac Lam, the founder and CEO of the startup, has confirmed the news.

    “The investment came after the first round of capital call from foreign investment funds, and John Wu has agreed to stand side by side with us,” Lam said.

    Established in late 2014, Vntrip.vn has established an online hotel network throughout Vietnam with cooperation of Booking.com, the world’s hotel reservation network belonging to the US Priceline Group with capitalization value of $65 billion.

    Wu’s F&H fund says the business is valued at VND300 billion.

    Vietnamese restaurant chain calls for $6.9 million

    Wrap & Roll has successfully called for $6.9 million from Mekong Enterprise Fund III (MEF III) managed by Mekong Capital.

    MEF III which was launched last June, with total investment capital of $112 million, is a private fund focusing on retailers, restaurants, consumer goods and consumer services in Vietnam.

    Wrap & Roll was the first investment deal made by MEF III.

    Established in 2006, Wrap & Roll has 10 restaurants in Hanoi, HCM City and four franchise shops in Singapore.

    3 more startups receive $75,000 

    1337 Ventures, a Malaysian fund, has announced investment in three Vietnamese startups, following Alpha Startups, a startup incubation program launched recently in HCM City.

    Each of the three businesses would receive $25,000 in capital and services and have the right to join the 3-month startup acceleration program to be run by 1337 Ventures.

    The three businesses include Saloneses, an app that books beauty services on smartphones, Perkfec, which allows business owners to keep watch over staff performance to reward them reasonably, and Navi which books venues and accommodations within hours.

    Bitexco acquires Huong Giang Tourism

    Huong Giang’s H1 Report shows that Bitexco, a major real estate developer, now holds 70.48 percent of the tourism company.

    On March 30, 2016, the Thua Thien-Hue provincial People’s Committee released a document on divestment of all the state’s stakes (12,572,200 shares) in Huong Giang. Bitexco has become the new shareholder in the tourism company.

    Tuong An Vegetable Oil

    Nguyen Manh Cuong, an individual shareholder, has announced the completion of the sale of 1.9 million TAC shares of Tuong An Vegetable Oil Company, equal to 10.4 percent of charter capital.

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