Market Summary
In July 2024, the Vietnamese market witnessed transactions totaling around c. USD140m. Notably, the Financial Services, Energy, and Telecommunication & Media sectors were prominently involved:
In the Financial Services featured a notable transaction where AIIB committed to invest USD75m in SeAbank as green and blue bonds.
Energy sector saw FMO’s USD30m investment into renewable energy platform SARA to develop renewable energy projects in Vietnam and Philippines.
The Telecommunication & Media sector featured Morgan Stanley-managed fund’s USD15.5m series B investment into METUB – a digital content publisher and YouTube multi-channel network in Vietnam.
Aggregate Deals Value = USD140m
This month's top deals
Financial Services
AIIB commits USD75 million to SeABank’s bonds
Asian Infrastructure Investment Bank (AIIB), a China-backed multilateral development bank, has committed to invest USD75 million in the green and blue bonds to be issued by Vietnam’s Southeast Asia Commercial Joint Stock Bank (SeABank). The transaction marks AIIB’s first investment in a blue bond. It is also the first-ever blue bond issued from Vietnam, a founding member of AIIB. The green bond was the first by a private commercial bank in the country, per the announcement. SeABank said it will use the proceeds from the bond issuance to expand financing for sustainable economic activities linked to water and the sea as well as grow green assets such as green buildings, renewable energy, and energy efficiency.
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Energy & Utilities
FMO to invest USD30 million in SUSI Partners-backed renewable energy platform SARA
SARA is a greenfield renewable energy platform under SUSI, a fund that invests in renewable energy and energy efficiency solutions in Southeast Asia and managed by SUSI Partners. Accordingly, SARA will focus on ready-to-build utility-scale wind and solar assets in Vietnam and the Philippines. The aim is to create an operational portfolio of 200-300MW in the coming years, and FMO’s capital will mainly be used to fund the equity needed to construct these projects.
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FMO to invest USD30 million in SUSI Partners-backed renewable energy platform SARA
Levanta Renewables to acquire rooftop solar system in Vietnam
Levanta Renewables said the system is one of the largest single-site rooftop solar installations in Vietnam, spanning close to 200,000 square meters. The facility is related to Tien Nga JSC, a local logistics business. The project can generate over 34 GWh of electricity per year, supplying green energy to state utility Vietnam Electricity (EVN) under long-term Power Purchase Agreements (PPAs). This move underscores Levanta’s dedication to supporting Vietnam’s renewable energy goals and reducing carbon emissions.
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Levanta Renewables to acquire rooftop solar system in Vietnam
SG-based Clime Capital invests USD10 million in Vietnam's Nami Distributed Energy
Clime Capital, a Singapore-based fund manager focused on accelerating the low carbon transition, has announced a USD10 million investment in Ho Chi Minh City-headquartered Nami Distributed Energy (Nami) as Vietnam has allowed direct power purchases from renewable plants. Nami Distributed Energy is a subsidiary of Nami Energy, founded by Vietnamese investors experienced in the Vietnam energy sector. It provides solar energy solutions and other on-site solutions such as battery storage and energy efficiency measures.
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SG-based Clime Capital invests USD10 million in Vietnam's Nami Distributed Energy
Telecommunication & Media
METUB secures USD15.5 million from Morgan Stanley-managed fund to bolster creative economy
METUB secured this funding in a Series B round led by North Haven Thai Private Equity, a fund established by Morgan Stanley Private Equity Asia in partnership with Bangkok Bank. The company plans to raise additional capital from other investors as part of this round. METUB supports over 1,700 content creators in Vietnam in growing their communities and diversifying their income across multiple media platforms. METUB's services include content production and distribution, executing partner content marketing campaigns, and influencer marketing.
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METUB secures USD15.5 million from Morgan Stanley-managed fund to bolster creative economy
Trip.com picks minority stake in Vietnam's co-living operator M Village for USD10 million
Vietnam-based co-living startup M Village has secured fresh funding in a Series B round from a subsidiary of Chinese online travel group Trip.com (formerly Ctrip). Founded in 2021 by Nguyen Hai Ninh, the co-founder and former CEO of local coffee chain The Coffee House, M Village offers both short-term and long-term accommodation in modern apartments. Additionally, it provides an ecosystem of workspaces, dining options, healthcare facilities, and a connected ecological community.
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Trip.com picks minority stake in Vietnam's co-living operator M Village for USD10 million
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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