Vietnam Newsletter - June 2022



Market summary


  • June total deal size was USD401.3m , with main contribution from Real Estate (USD250m), and Technology related (USD92m)

  • Real estate saw a significant transaction with Warburg Pincus investing in Novaland (USD250m)

  • June 2022 was an active month for tech-related deals, including Technology (USD50m), Fintech (USD30m), Proptech (USD2m), and Blockchain/NFT (USD10m)

  • Other sectors contributed to the remaining c. USD59.5m

Aggregate Deals Value = USD401.3m

 

This month’s top deals


Real estate

Novaland Investment Group JSC - A Vietnamese real estate developer, successfully raised USD250 million

Real estate developer Novaland Investment Group JSC has received investment of USD250 million from a consortium led by Warburg Pincus. It plans to use the proceeds to pursue real estate projects development and expand to new business areas in line with its strategy to become an integrated ecosystem and compete with VinGroup.

Article link:

Warburg Pincus leads 250m investment in Novaland


Logistics

Quang Binh Import-Export JSC closed a transaction with an implied valuation of c. USD19 million

Quang Binh Import-Export JSC (QBS) has announced the completion of the transfer of its 98.63% stake in Quang Binh-Dinh Vu ICD Company to Green Logistics Center Company, with a total value of VND432 billion, equivalent to an implied enterprise value of USD18.8 million.

Article link:

QBS sells entire stake at quang binh dinh vu icd


Infrastructure

Samsung Engineering completed the acquisition of DNP-Water JSC for a transaction amount of USD41m

Samsung Engineering Co., Ltd. (KOSE:A028050) completed the acquisition of the remaining 24% stake in DNP-Water Joint Stock Company from International Finance Corporation on June 30, 2022.

Article link:

Samsung acquires stake in DNP Water


Technology

OnPoint successfully raised USD50 million in series B from SeaTown Private Capital Master Fund

OnPoint, an e-commerce enabler in Vietnam, has successfully raised USD50 million in a series B fund-raising round from SeaTown Private Capital Master Fund managed by SeaTown Holdings International, an indirect wholly-owned subsidiary of Singapore’s Temasek Holdings. This round increased the accumulated raised amount of the company to USD58m. OnPoint E-commerce provides customized all-in-One eCommerce solutions that make eCommerce easy for brands, and create values for businesses, consumers, and partners. It offers services in the areas of commercial management, merchandising enhancement, online marketing, and B2C orders operations.

Ancient8 raised USD6 million from various investors led by Makers Fund and C² Ventures

Cadenverse x Amanotes and Kyber Network: A seed round of USD4 million

Articles links:

Onpoint raises 50m

Ancient8 gets 6m to build infrastructure software for gamefi

Adenverse bags 4m seed money


Fintech

Finhay's series B: USD25 million from Openspace Venture and VIG

Finhay, a Vietnam-based digital investment platform, said Wednesday it has secured a USD25 million Series B round co-led by Openspace Ventures and VIG, along with Insignia, TVS, Headline, TNBAura and IVC. The aggregate amount raised of Finhay increased to USD26m after this round.

Anfin successfully raised USD4.8 million in pre-Series A round

Articles links:

Finhay raises 25m series B

Financial startup Anfin raises $4.8 mln


Proptech

Houze - a proptech startup secured USD2 million from DKRA Group

Vietnamese proptech startup Houze has secured USD2 million in its latest funding round led by DKRA Group to expand its fully integrated real estate ecosystem for agents and customers through its offline-to-online platform.

Article link:

Houze bags 2 million


Note: Deal values only include disclosed completed deals with amounts restricted to local scene i.e. amounts related to the Vietnam entity and/or business. Rumored deals not included. Cross-posted deals are also adjusted to avoid double count.

Exchange rate: USD1.00 = VND23,000.00