Market Summary
- September total disclosed deal size stood at only c. USD163m, mainly from Financial Services (USD113m) and Technology (USD32m), where the bond issuance of BIDV Securities is the sole transaction of Financial Services while 95% of deal value in Technology was mainly growth investment into EdTech platforms.
Aggregate Deals Value = USD163m
This month’s top deals
Financial Service
BIDV Securities issues 65.7 millions of shares to strategic partners Hana Financial Investment and raises charter capital by VND2.7 billion
BIDV Securities Joint Stock Company announced a private placement of 65,730,042 shares at a price of VND41,000 per share for gross proceeds of VND2.7 billion on September 27, 2022. The transaction included participation from foreign investors Hana Securities for 65,730,042 shares. The securities issued are subject to restricted period of 3 years from the ending date of the offering.
Article link: BIDV Securities issues 65.7 million of shares to strategic partners Hana Financial Investment and raises charter capital by VND2.7 billion
Technology
- Virtual Internships raised USD14.3 million Series A: Virtual Internships announced that it has raised $14.3 million in a round of funding led by Hambro Perks Ltd. on September 15, 2022. The transaction also included participation from Surge, Arsenal Venture Partners, Inc., Ascend Vietnam Ventures, Kaplan, Inc. and STIC Investments, Inc. The investment is used to further scale its education platform as demand for remote work and learning continues to grow.
Article link:
Virtual Internships raised USD14.3 million Series A
- Edupia rasie USD14.0 million in its Series A, led by Jungle Ventures: Edupia - an online tutoring platform - announced that it has received USD14.0 million in a series-A round of funding led by Jungle Ventures Pte. Ltd. on September 7, 2022. The transaction also involved participation from ThinkZone Ventures and Redefine Capital Fund LP. The total funding till date is USD16.0 million. Edupia intends to use the proceeds to upgrade its tutoring platform and scale.
Article link:
Edupia rasie USD14.0 million in its Series A, led by Jungle Ventures
- Vuihoc raised USD2.0 million from Bace Capital: Vuihoc (Hung Vuong Education), a Vietnam-based edtech platform, announced that it has raises USD2.0 million in bridge round of funding led by Ant Group-backed Bace Capital on September 8, 2022. The transaction also included participation from other investors Vulpes Investment Management Private Ltd, DT Investment Partners, LLC, Nextrans, and Colopl Next, Inc. The company plans to use the proceeds for product development and user acquisition purpose.
Article link:
Vuihoc raised USD2.0 million from Bace Capital
- Tititada raised USD1.5 million from Golden Gates: Vietnam’s growing investment plantform/app annouced it has raised USD1.5 million in pre-seed round, led by Golden Gates Ventures. This marks the transaction as the biggest pre-seed round in Vietnam
Article link:
Tititada raised USD1.5 million from Golden Gates
Manufacturing
Top Sports Textiles Vietnam raised USD7.7 million from Thrive Nation Group
Top Sports Textile Vietnam Co., Ltd. announced that it has raised TWD 243,480,000, or USD7.7 million, in funding from returning investor Thrive Nation Group Limited on September 28, 2022. The transaction has been approved by the board of directors of the company.
Article link:
Top Sports Textiles Vietnam raised USD7.7 million from Thrive Nation Group
Telecommunication & Media
ACE ANTENNA raised USD9.9 million from its retuning investors
ACE ANTENNA CO., Ltd. announced that it has raised a gross proceed of KRW 13,703,000,000 on September 7, 2022. The transaction included participation from returning investor, Ace Technologies Corp. The company followed cash contribution for capital increase method in the transaction and expected to use the proceeds for additional working capital
Article link:
ACE ANTENNA raised USD9.9 million from its retuning investors
Note: Deal values only include disclosed completed deals with amounts restricted to the local scene i.e. amounts related to the Vietnam entity and/or business. Rumored deals are not included. Cross-posted deals are also adjusted to avoid double count.
Exchange rate: USD1.00 = VND23,865.00 as of September 30, 2022.
