Vietnam: Hong Kong-based Hendale Capital invests in online travel agency Vntrip

Hendale Capital, a Hong Kong-based late-stage investment firm, has invested in Vietnamese online travel agency (OTA) Vntrip, it confirmed to DEALSTREETASIA.

The investor declined to provide any other funding details. Vntrip had earlier announced that it had raised $10 million in funding.

Hendale Capital, established in 2015, has so far backed a total of five companies, according to its website. It provides initial commitments in the range of $5-20 million in late-stage venture and growth equity deals.

It is founded by Henry Lee, who has nearly 30 years’ experience of working at fund managers and family offices in Asia. The firm’s other four investee companies are technology and retail businesses from Australia and the US.

Vntrip is the first company in its Southeast Asia portfolio.

In July 2016, the Vietnamese startup had announced a $3-million Series A round led by former Alibaba executive John Wu. That was one of the biggest Series A investments in a Vietnamese startup. Its latest round at $10 million is also amongst top Series B deals in the country.

The local OTA market is still dominated by foreign players, who own 80 per cent of this industry, according to the Vietnam E-commerce Association.

Booking platforms like Priceline’s Booking.com, Traveloka and Agoda are the most popular overseas brands in Vietnam.

Vntrip could not be reached for the company’s traction and growth metrics.

Also Read:

Vietnam’s hotel booking app Vntrip grabs $3m from former Alibaba CTO, others

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.