Vietnam: Greenwings invests in Hoayeuthuong; Vemanti takes over Two Group

Hoayeuthuong.com, a flower delivery startup in Vietnam, has received $1 million in equity funding and loan from overseas flowers and ornamentals group Greenwings. Meanwhile, US-based Vemanti Group is acquiring Two Group.

Hoayeuthuong receives $1 million in equity funding and loan from Greenwings

Dutch flower exporting firm Greenwings has invested VND12 billion ($500,000) in Vietnamese flower delivery startup Hoayeuthuong as a strategic partner.

The partnership comes with another VND12 billion loan and the commitment from the investor to pump more funding in the future.

The proceeds from this investment will help Hoayeuthuong expand its network of flower marketplaces across Vietnam and Cambodia by next year. In addition, the company also plans to develop training centres for plantation and IT research for boosting sales within the industry.

Hoayeuthuong, founded in 2010, said it had gone through bankruptcies several times until 2015 when the company started all over again. The startup graduated from Topica Founder Institute’s fourth acceleration cohort in 2015.

Greenwings is a unit of the Dutch Flower Group, according to Hoayeuthuong. It is learnt to have a presence in nine international markets, including Vietnam where it operates Dalat Hasfarm, the exclusive production site for Calimero in all of Asia.

Vemanti Group acquires 100% of Vietnam-based Two Group

US-based holding corporation Vemanti Group is acquiring 100 per cent of assets from Vietnamese technology company Two Group JSC, after an earlier announcement that it would take a majority stake.

The deal will be Vemanti’s first strategic investment into Vietnam.

“We believe this acquisition will represent a major milestone in our plans to become a significant participant in Vietnam’s rapidly growing digital economy,” said Tan Tran, the American-Vietnamese chairman and CEO of Vemanti.

The parties expect to sign a definitive share exchange agreement in the first quarter of 2018, and close the transaction shortly after.

Two Group, which is active in e-commerce, location navigation, content streaming and social media, is set to launch the new retail concept of brick-to-click marketing, as well as cryptocurrency.

“Vietnam’s increasing internet connectivity means larger local market opportunity for digital businesses. And with Vietnam preparing to legalize bitcoin and other cryptocurrencies under a new plan approved by the prime minister, we see many positives ahead for our long-term strategy,” said Tran.

Vemanti looks to invest primarily in early-stage IT companies operating directly or indirectly in Vietnam. It sees Vietnam, with more than 6 per cent annual growth rate, rapidly transforming into an export powerhouse with a thriving domestic consumer market.

“As a place to invest, the country continues to offer extraordinary potential,” Vemanti said in a statement.

Also Read:

US firm Vemanti to acquire Vietnam’s tech conglomerate Two Group

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.

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.