Vietnam Newsletter - October 2022




Market Summary


  • October disclosed deal size stood at c. USD13m, came from 3 deals Real Estate (USD7m), Financial Services (USD5m), and Technology (USD1m).


Aggregate Deals Value = USD13m

 

This month’s top deals


Financial Services

Fundiin Joint Stock Company announced that it raised USD5 million for Series A

Fundiin announced that it has raised USD5 million in a round of funding co-led by Trihill Capital and ThinkZone Ventures on October 18, 2022. The transaction included participation from returning investors, JAFCO Investment (Asia Pacific) Ltd., 1982 Ventures, Genesia Ventures, Inc., Zone Startups Vietnam, and individual investors, Do Thu Ngan. The company will use the proceeds to expand at a faster pace, invest in the development of new products, as well as attract top talents before expanding to Indonesia in the upcoming Series B round

Article link: Fundiin Joint Stock Company announced that it raised USD5 million for Series A

Real Estate

Hoa Binh Construction Group Joint Stock Company closed a private placement of 5 million common shares to a Japanese investor

Hoa Binh raised gross proceeds of VND162,500,000,000 on October 14, 2022 from Sanei Architecture Planning Co.,Ltd. for 1.87% stake. Hoa Binh will use the proceeds to pay the cost of purchasing construction materials for construction activities (e.g., iron, steel, aluminum, cement, etc.) this year.


Article link:

Hoa Binh Construction Group Joint Stock Company closed a private placement of 5 million common shares to a Japanese investor

Technology

Piktina received USD1 million in a seed round from Touchstone Partners

Piktina announced that it received USD1 million in a seed round of funding on October 11, 2022. The transaction included participation from Touchstone Partners. Piktina will use the proceeds to finance the application’s continued growth and enable further refinement of the platform’s business model


Article link:

Piktina received USD1 million in a seed round from Touchstone Partners



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

Exchange rate: USD1.00 = VND24,569.00 as of October 31, 2022.