By Ka Kay Lum
The newly-launched $100-million tech-focused fund will invest in Vietnamese companies with proven revenue streams, especially those with concepts that can be scaled up to a regional or global level.
The fund, led by Eddie Thai and Binh Tran, was launched in 2016 and has since then invested in 36 Vietnam-connected tech startups.
The proposed cyber security law, if approved next year without amendments, will require internet companies like Google and Facebook to open offices and store users’ data in the country.
AIM-listed VinaLand, a real estate investment vehicle managed by Vietnam-based VinaCapital, plans to delist this year and liquidate in 2019.
JobHop has raised $710,000 in a round co-led by Singapore-based KK Fund and Japan’s Mynavi Corporation.
As part of a push to privatise state companies to offset mounting public debt, the government had earlier sold a 53.6 per cent stake in Sabeco to ThaiBev for $4.8 billion.
Korean conglomerate CJ Group has dropped its plan to list the CJ CGV Vietnam Holdings subsidiary on Korea’s main Kospi market, citing difficulty in valuing the transaction.
South Korea’s Mirae Financial Group and Naver Corp, through their Mirae Asset-Naver Asia Growth Fund, have acquired two logistics centres in Vietnam for about $47 million.
VietHydro is the majority shareholder of Lao Cai Renewable Energy, which owns and operates the $44.5 million Coc San Hydro Power project.
The fragmented market has more than 40 payment companies but there is still no clear winner in sight.