Vietnam’s start-up scene thrives, funding almost doubles

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Vietnamese start-ups received $291 million in funding last year, an increase of 42 per cent over 2016, according to a recent report by Topica Founder Institute, a Hanoi-based accelerator. The number of start-ups funded reached 92, almost double from the previous year, which was 50. Domestic investors accounted for 64 deals, while foreign investors made 28.

For the first time, local venture capitalists and angels bypassed foreigners in deal count. However, foreign investors still generated higher deal value. The amount domestic investors poured into Vietnamese start-ups in the past year was only $46 million, relatively modest compared with the $245 million from foreign investors.

Among investors, US-based 500 Startups led in successful investment deals, with 11 acquisitions, followed by ESP Capital, a new homegrown venture capital firm. With $20 million in establishing funds, ESP Capital is focused on technology start-up companies in their beginning stages, with investment funds from $50,000 to $300,000.

NYSE-listed Sea Group was a particularly voracious foreign investor: It acquired a 82-per cent stake in restaurant review platform Foody, a deal worth $82 million and the largest in 2017. It also acquired two fintech and logistics startups in undisclosed deals reportedly worth up to $50 million.

Other notable investments were the $54 million Series C investment in e-commerce platform Tiki jointly made by Chinese internet giant JD.com and South Korea’s STIC Investments, Hendale Capital’s $10-million investment in Vntrip, and TNB Ventures undisclosed $20 million Series A investment.

Media was also one of the hot areas with nine deals and more than $18 million in deal value.

 

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Reading Time: 1 minute

Vietnamese start-ups received $291 million in funding last year, an increase of 42 per cent over 2016, according to a recent report by Topica Founder Institute, a Hanoi-based accelerator. The number of start-ups funded reached 92, almost double from the previous year, which was 50. Domestic investors accounted for 64 deals, while foreign investors made 28.

Reading Time: 1 minute

Vietnamese start-ups received $291 million in funding last year, an increase of 42 per cent over 2016, according to a recent report by Topica Founder Institute, a Hanoi-based accelerator. The number of start-ups funded reached 92, almost double from the previous year, which was 50. Domestic investors accounted for 64 deals, while foreign investors made 28.

For the first time, local venture capitalists and angels bypassed foreigners in deal count. However, foreign investors still generated higher deal value. The amount domestic investors poured into Vietnamese start-ups in the past year was only $46 million, relatively modest compared with the $245 million from foreign investors.

Among investors, US-based 500 Startups led in successful investment deals, with 11 acquisitions, followed by ESP Capital, a new homegrown venture capital firm. With $20 million in establishing funds, ESP Capital is focused on technology start-up companies in their beginning stages, with investment funds from $50,000 to $300,000.

NYSE-listed Sea Group was a particularly voracious foreign investor: It acquired a 82-per cent stake in restaurant review platform Foody, a deal worth $82 million and the largest in 2017. It also acquired two fintech and logistics startups in undisclosed deals reportedly worth up to $50 million.

Other notable investments were the $54 million Series C investment in e-commerce platform Tiki jointly made by Chinese internet giant JD.com and South Korea’s STIC Investments, Hendale Capital’s $10-million investment in Vntrip, and TNB Ventures undisclosed $20 million Series A investment.

Media was also one of the hot areas with nine deals and more than $18 million in deal value.

 

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