Vietnam Newsletter - July 2025

Market Summary

In July 2025, the Vietnamese market witnessed transactions totaling around c.USD643m. Notably, the technology, and transportation sectors were prominently involved:

• The technology sector featured a notable transaction including VETC, OKXE and AI Hay, with a total deal value of c. USD43m. 

• The transportation sector featured Vinfast raising USD510m in private credit from Deutsche Bank and SeaTown.

Aggregate Deals Value = c. USD43.6m

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This month's top deals

Technology

Asia Digest: IFC backs Vietnam's VETC

International Finance Corporation (IFC) has invested USD19 million (VND500 billion) in VETC via convertible bonds to scale Vietnam’s electronic toll collection (ETC) systems by 2030. The investment will boost road efficiency and support VETC’s expansion into digital payments, including e-parking and cashless fueling.

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Asia Digest: IFC backs Vietnam's VETC

Vietnamese used motorcycle platform OKXE completes USD14.5 million Series A round

Used motorcycle platform OKXE has raised USD14.5 million in a Series A round led by Kwangju Bank to expand its store network in Vietnam and develop AI-driven maintenance, financing, and insurance services. The company aims to become a leading mobility commerce platform across Southeast Asia.

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Vietnamese used motorcycle platform OKXE completes USD14.5 million Series A round

Vietnam's AI Hay raises USD10 million Series A round led by Argor Capital

Vietnamese AI platform AI Hay has raised USD10 million in Series A funding led by Argor Capital to expand its web-based tools and develop AI companions for education and entertainment. With over 15 million downloads and 100 million monthly interactions, AI Hay blends local data and LLMs to deliver culturally relevant, scalable AI experiences.

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Vietnam's AI Hay raises USD10 million Series A round led by Argor Capital

Transportation & Logistics

Vingroup arms secure private credit from Deutsche Bank, SeaTown

VinFast has raised USD510 million from Deutsche Bank and SeaTown to accelerate its electric vehicle expansion in India and Indonesia, including a USD114 million syndicated loan for its West Java factory, despite reporting a 2024 net loss of USD3.18 billion.

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Vingroup arms secure private credit from Deutsche Bank, SeaTown

Note: Deal values include disclosed announced & closed private equity deals with amounts restricted to the local scene i.e., amounts related to the Vietnam entity and/or business. Rumored deals and announced deals are not included. Cross-posted deals are also adjusted to avoid double counting.