Market Summary
In May 2024, the Vietnamese market witnessed transactions totaling around USD477m. Notably, the Consumer & Retail, Energy & Utilities, and Agriculture & Food sectors were prominently involved:
In the Consumer & Retail sector, Pharmacity secured a mix of debt and equity investment from Avenue Capital Group.
Energy & Utilities sector featured a notable transaction where Mitsubishi acquired tungsten unit of Masan Group.
Agriculture & Food sector highlighted an acquisition of a Korea-Vietnam fertilizer unit from the Petrovietnam fertilizer arm.
Aggregate Deals Value = USD477m
This month's top deals
Consumer & Retail
Pharmacity received USD40 million funding from US-based Avenue Capital Group
Vietnam's leading pharmacy chain, Pharmacity, has raised a USD40 million mix of equity and debt funding from Avenue Capital Group, a US-based investment firm specializing in distressed assets. The deal aims to support Pharmacity's expansion and operational enhancement, positioning it to further solidify its market presence amidst increasing competition in Vietnam's retail pharmacy sector.
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Pharmacity received USD40 million funding from US-based Avenue Capital Group
VNDirect has announced its decision on May 17th to acquire Goldsun Food JSC
Securities firm VNDirect plans to acquire Goldsun Food JSC, which owns popular restaurant brands like King BBQ and ThaiExpress in Vietnam. The deal size is undisclosed, but VNDirect's acquisition aims to strengthen its portfolio by integrating Goldsun Food's established culinary brands, which include over 170 restaurants serving millions of guests annually.
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VNDirect has announced its decision on May 17th to acquire Goldsun Food JSC
Vuihoc made a strategic investment in The IELTS Workshop
Vietnamese edtech startup Vuihoc has invested in The IELTS Workshop to tap into Vietnam's booming IELTS test preparation market. This move follows Vuihoc's recent USD6 million funding round led by TNB Aura. The collaboration aims to combine Vuihoc's technological strengths with The IELTS Workshop's expertise to create high-quality, AI-enhanced IELTS training programs, making them accessible and affordable for students nationwide.
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Vuihoc made a strategic investment in The IELTS Workshop
Telecommunication & Media
Touchstone Partners led USD0.72 million seed round investment in Happynest
Vietnamese social commerce housing platform Happynest raised USD0.72 million in a seed round led by Touchstone Partners to expand its community and product offerings. Happynest has the largest home and living community with 1 million active users monthly, covering over 300,000 pictures and 10,000 articles of user-generated content about home and furniture ideas.
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Touchstone Partners led USD0.72 million seed round investment in Happynest
Energy & Utilities
Masan Group sold its tungsten unit to Mitsubishi for USD134.5 million
Mitsubishi Materials Corporation (MMC) has acquired H.C. Starck Holding GmbH, a tungsten powder unit from Masan High-Tech Materials, for USD134.5 million. The deal aims to reduce Masan's debt and is expected to generate a one-time profit gain of USD40 million and a long-term net profit uplift of USD20-30 million annually. Additionally, Masan retains its ownership in Nyobolt, a battery technology firm.
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Masan Group sold its tungsten unit to Mitsubishi for USD134.5 million
Real Estate
WeSale secured seed funding from Singapore-based Hitseries Capital
Vietnamese real estate platform WeSale has secured seed funding from Singapore's Hitseries Capital. The investment aims to enhance WeSale's technology, expand its market reach, and develop new products and services. WeSale focuses on offering advanced real estate transaction tools and CRM, leveraging generative AI to provide transparent and effective solutions for brokers, partners, and developers.
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WeSale secured seed funding from Singapore-based Hitseries Capital
Agriculture & Food
Petrovietnam fertilizer arm acquired a 100% stake in Korea-Vietnam Fertilizer for USD25 million
Petrovietnam Ca Mau Fertilizer JSC (PVCFC) has acquired the Korea-Vietnam Fertilizer Co., Ltd (KVF) for an estimated USD25 million. This acquisition aims to enhance PVCFC's presence in Vietnam's NPK fertilizer market, particularly in the Southeast, Central Highlands, and Central regions. The deal is expected to double profits from PVCFC's traditional NPK segment in 2024, offsetting losses from the newly acquired subsidiary. KVF, founded in 2015, operates a plant with a capacity of 360,000 tonnes annually.
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Petrovietnam fertilizer arm acquired a 100% stake in Korea-Vietnam Fertilizer for USD25 million
Healthcare & Life Science
WeCare 247 raised fund from Japan’ Mynavi, scoring its first healthcare investment in Vietnam
Japanese HR conglomerate Mynavi Corporation has made its first investment in Vietnam’s healthcare sector by backing the caregiving service provider WeCare 247. This move marks Mynavi's strategic entry into Southeast Asia's healthcare market, aiming to enhance WeCare 247's growth and service capabilities in the caregiving sector.
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WeCare 247 raised fund from Japan’ Mynavi, scoring its first healthcare investment in Vietnam
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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