Market Summary
In January 2025, the Vietnamese market witnessed transactions totaling around USD274m. Notably, the Consumer & Retail, Energy & Utilities, and Healthcare & Life Science sectors were prominently involved:
In the Consumer & Retail sector, Hasfarm secured an equity investment from TPG.
Energy & Utilities sector featured 2 notable transactions where CME Solar received USD20m funding from EAAIF & EnQuest acquired Harbour Energy’s business in Vietnam for USD84 million.
Healthcare & Life Science sector highlighted a new funding from August Global Partners to Gene Solutions.
Aggregate Deals Value = USD274m
This month's top deals
Consumer & Retail
Asian floriculture business Hasfarm Holdings secured investment from TPG
The deal may include a strategic buyer partnering with TPG. Founded in 1992 in Da Lat, Vietnam, Hasfarm distributes temperate flowers across Asia. The company has production sites in Vietnam, China, and Indonesia, along with wholesale operations, and maintains a vertically integrated model with both online and offline retailers. Additionally, it exports from Vietnam and China to Japan. Recently, Hasfarm has diversified its offerings to include greenhouse horticulture and clean vegetables.
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Asian floriculture business Hasfarm Holdings secured investment from TPG
Energy & Utilities
CME Solar received USD20 million funding from EAAIF
The Emerging Africa & Asia Fund (EAAIF) invested in the Vietnam-based rooftop solar company after extending its mandate to South and Southeast Asia in 2024. With the funding from the transaction, SME Solar aims to scale its projects beyond 260 MWp.
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Harbour Energy’s operation in Vietnam acquired by UK’s EnQuest for USD84 million
Financial Services
AEON Financial completed the acquisition of Post and Telecommunication Finance Company (PTF)
AEON Financial Service, a subsidiary of Japan’s largest retailer AEON Group, has finalized the acquisition of SeABank’s consumer finance unit, PTF, for approximately USD170 million. The State Bank of Vietnam (SBV) approved the transaction over a year after SeABank and AEON Financial signed the stake transfer agreement. This acquisition aligns with a capital restructuring strategy aimed at enhancing financial capacity, investing in technology, and expanding operations.
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AEON Financial completed the acquisition of Post and Telecommunication Finance Company (PTF)
Education
Asia Business Builders (ABB) led Series B funding round in Kyna English
DTP Education Group and Kyna English’s co-founder Ho Hong Bao Tram participated in the round. Kyna English will enhance its personalized online tutoring platform with AI and machine learning, offering a flexible and affordable learning solution. Partnering with DTP, it will leverage digital content and teaching resources for new courses and expansion. The funding will support growth in Vietnam and expansion into Thailand, Indonesia, and Laos, while exploring further opportunities across Asia.
Article link:
Asia Business Builders (ABB) led Series B funding round in Kyna English
Healthcare & Life Science
Gene Solutions raised new funding from Singapore-based August Global Partners (AGP)
Vietnamese genomic testing startup has secured new funding to advance its mission of making early cancer detection technology and precision therapeutics widely accessible across Asia. The partnership will grant Gene Solutions access to top-tier research resources and regional collaborators. Additionally, the company aims to collaborate with biopharmaceutical firms in Asia to co-develop innovative cancer treatments, including targeted drugs, neoantigen vaccines, and cell therapies.
Article link:
Gene Solutions raised new funding from Singapore-based August Global Partners (AGP)
Note: Deal values include disclosed announced & closed 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 counting.
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