Cassia Investments leads $5.5m series A in Vietnamese cafe chain KAfe Group

Visual from KAfe Group website.

Vietnam’s café chain KAfe Group Limited has raised $5.5-million in a Series A round led by Cassia Investments, a private equity firm that invests in consumer-focussed lower middle-market companies across Greater China and Southeast Asia.

Institutional investors in London and Hong Kong also took part in this round.

The Series A financing, which was closed in summer, will back KAfe Group’s expansion beyond Hanoi to Ho Chi Minh City and other major cities in Vietnam. KAfe Group is also eyeing an overseas public listing at a later stage.

The café was founded in 2013 by Chi Anh Dao, a Vietnamese home chef, cookbook author and TV cooking personality.

Targeting the young and affluent population, the café offers quality casual dining experience, with culinary inspirations from Vietnam and across the world.

The Group has 12 outlets Hanoi. It recently entered southern Vietnam via Ho Chi Minh City, where it operates four outlets. The Group expects to expand the total number of outlets to 26 by the end of the year.

KAfe Group founder Chi Anh Dao said, “KAfe Group has undergone phenomenal growth in a very short period, which validates our unique positioning and the associated first-mover advantages we have gained as a result.”

The group is planning to expand its network, roll out multi-channel marketing promotions and delivery service, and expand its chef team. It is also looking at driving logistics and supply chain efficiencies by building a KAfe Group ecosystem by acquiring local organic farms in Vietnam to build stable and quality supply chain of fresh, clean produce from farm to table, she said, in a statement.

“We are very impressed by the vision and energy of Chi Anh Dao, her success in introducing a new dining experience to Vietnam, the unique positioning of KAfe Group, and the quality of the management and operations team,” said Faris Ayoub, Managing Partner of Cassia Investments.

Dennis Nguyen, Chairman of KAfe Group, said, “We are thrilled to introduce KAfe Group to global institutional investors and are proud of our performance and prospects.”

The Group has developed four brands – The KAfe, KAfe Village, KAfe Box, and The Burger Box – and is currently developing its own branded coffee and tea range (The KAfe Cup), as well as a pressed juice range (The KAfe Pressed)

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.