Vietnam: SSIAM’s agribusiness startup fund makes its first investment

The investment arm of Vietnam-based SSI Asset Management (SSIAM) has made its first startup investment – in food distributor Hellomam.

SSIAM is a unit of Vietnam-based brokerage Saigon Securities Inc

The financing was completed on July 14 and values Hellomam at $4 million, according to NDH.vn, a local newswire owned by Nguyen Duy Hung, chairman of Saigon Securities Inc.

Financial details of the investment were not disclosed.

Hellomam, founded in 2015, is an O2O (online to offline) platform that delivers organic foods to customers. Its founding members include Le Thi Thu Thuy, former CEO of Vietnam’s property giant Vingroup, that is also present in retail and agribusiness sectors.

“Hellomam is the typical example of a firm that fits our investment criteria in agribusiness startups. The company follows strategies and has vision similar to that of PAN Food’s (an agriculture firm headed by Hung), as well as meets the fund’s standards,” commented Le Thi Le Hang, CEO of SSIAM.

“We see Hellomam as a distributor for PAN Food,” she told the NDH.vn, stating that the tie-up between PAN Food and Hellomam will create synergy in better serving the increasing needs of food safety and traceability.

Last month, SSIAM chairman Hung had informed the media that his fund management firm had an outlay of VND100 billion ($4.5 million) for investing in agribusiness and agri-tech startups, adding that it was challenging to find the right companies( to invest in).

“SSIAM is exploring the opportunities in the market,” Hang reportedly said.

The asset management firm has also announced to launch a $40 million private equity fund and $200 million open-ended fund to make investments in listed equities.

Also read:

Vietnam: Saigon Securities unit closes $40m fund to invest in listed, private firms

Pan Pacific has a mission to invest in agriculture: Nguyen Duy Hung

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.