Market Summary
In March 2024, the Vietnamese market witnessed transactions totaling around USD33m. Notably, the Transportation & Logistics, Technology, Financial Services, Consumer & Retail, and Telecommunication & Media sectors were prominently involved:
In the Telecommunication & Media sector, Kamereo LLP announced securing USD2.1m in funding, led by new investor Reazon Holdings.
The Technology sector highlighted a significant investment, with Quickom receiving USD1.5m through a contract with the well-regarded VinaCapital investment fund.
Financial Services also marked its presence with approximately USD20.2m raised through a private placement, which saw participation from returning investors.
Consumer & Retail sector featured a notable transaction where Elan Corporation (TSE:6099) agreed to acquire a 51% stake in TMC Vietnam Trading And Service Company for approximately USD9m on March 22, 2024.
Aggregate Deals Value = c. USD33m
This month's top deals
Technology
Kamereo LLP announced that it has received USD2.1 million funding led by new investor Reazon Holdings to expand the food-sourcing program
Vietnam-based B2B food-sourcing platform Kamereo has successfully raised USD2.1 million in a pre-Series B funding round led by Reazon Holdings and Thoru Yamamoto, CEO of Tokyo-listed B2B firm Foodison. Quest Ventures also participated in the financing. Established in 2019, Kamereo specializes in facilitating online marketplace transactions between farmers and food and beverage businesses, with a focus on fresh supplies. With the infusion of new capital, the company aims to bolster its presence in Vietnam, particularly in Hanoi, and intends to venture into the Cambodian market. Furthermore, Kamereo plans to allocate a portion of the funds towards enhancing its consumer retail business by selling ready-to-eat salads through supermarkets and convenience stores.
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Quickom disclosed securing USD1.5 million in a funding round led by VinaCapital Ventures
Quickom, founded in 2021 by Dr. William H. Nguyen, a pioneering entrepreneur in the technology sector and a Vietnamese national, has attracted investments from various sources.
Notably in March 2024, VinaCapital Ventures joined the ranks of investors, contributing USD1.5 million to the company's growth. Quickom stands out for its innovative approach to decentralized communication, enabling direct data transmission between users without reliance on centralized data centers. This architecture significantly reduces the cost of organizing online meetings while enhancing call quality. By successfully hosting over 500 online events in 2023, Quickom anticipates a yearly revenue growth of over 100% for the next three years. Currently, Quickom is pioneering Web3 technology with its Chat3 platform, a SocialFi solution enabling users to earn income from their online interactions and content through blockchain technology.
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Quickom disclosed securing USD1.5 million in a funding round led by VinaCapital Ventures
Financial Services
Phu Hung Securities Corporation announced a private placement, securing USD20.2 million from returning investors
PHS intends to privately offer 50 million shares to foreign investors, totaling c. USD20.2 million, aimed at bolstering working capital for business operations and various financial activities like pre-sale securities lending and margin trading to enhance financial security. The list of participating foreign investors, including Phu Hung Far East Holding Corporation, holding a 46% ownership stake, has been disclosed. This capital-raising initiative is slated for execution in 2024, aiming to fortify the company's financial capacity and competitiveness. In its business plan, PHS targets a 1.32% market share in stock brokerage, projecting revenues of USD29.8 million and post-tax profits expected to double to USD4 million compared to 2023.
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Healthcare & Life Science
Elan Corporation (TSE:6099) agreed to purchase a 51% interest in TMC Viet Nam Trading and Service Company Limited for c. USD9 million
Since its establishment in 2002, TMC Vietnam has become a leader in the laundry and sterilization industry, continuously innovating to provide comprehensive solutions for professional laundry areas, sterilization centers (CSSD), and industrial laundry services in Vietnam.
Acquiring TMC Vietnam, a laundry equipment company, benefits Elan Corporation's nursing and medical-care business by providing in-house laundry capability, improving efficiency, reducing costs, ensuring quality control, and offering customized solutions tailored to the needs of hospital patients and nursing home residents. The transaction is expected to close in mid-June 2024.
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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 count.
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