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SAVVI NEWSLETTER (NOVEMBER 2023)

11_november_2023

SAVVI HIGHLIGHTS

Founder Spotlight:  No Spotlight this month due to Thanksgiving

Network News:  Gaw Capital Partners, Cocoon Capital, ELSA

Funding:  Mobile World, Saigon Hi-Tech Park, Quang Tri Province, Netflix

Vietnam Tech and Startup Environment:  Local brand expansion overseas, FDI, market conditions, and more

Vietnam Film and Music Industry News: Box office expansion, cultural music inspirations, the convergence of tech and music, and more


DID YOU KNOW?

After Singapore, Vietnam will be the biggest economic gateway into SEA by 2030 Vietnam continues to be Laos’ and Cambodia’s largest foreign investor Vietnam is the second most visited country in the world by South Koreans

HAPPY THANKSGIVING FROM SAVVI

Dear SAVVi Community,

In observance of Thanksgiving in the US, there won’t be a Founder Spotlight this month. We’d like to take this opportunity to extend our warmest wishes to each and every one of you. We hope this Thanksgiving brings an abundance of joy and cherished moments as you gather around the table with your loved ones to give thanks.

We understand that our community spans across borders, reaching Vietnam and beyond. Whether you’re celebrating in the heart of Vietnam or in any corner of the world, we wish you a delightful Thanksgiving filled with warmth, gratitude, and the company of cherished friends and family.

Thank you for being a part of the SAVVi family. We’re truly grateful for your continuous support and engagement.

Warm regards, The SAVVi Team

SAVVI NETWORK NEWS

UPDATES

Gaw Capital Partners
Gaw Capital Partners – a private equity investment firm focusing on real estate has signed an agreement to establish a strategic partnership with Sinar Primera, Indonesia’s leading new economy real estate development enterprise, to develop a Data Center in Batam, Indonesia. The alliance between Gaw Capital Partners and Sinar Primera underscores a shared vision to capitalize on emerging opportunities in the digital infrastructure sector. With Gaw Capital Partners as the main investor, Sinar Primera will acquire a minority stake in this real estate project and assume the role of development director of the project. Mr. Kok Chye Ong, Managing Director and Head of Internet Data Center Platform of Gaw Capital Partners Asia (ex-China) said: “We are delighted to partner with Sinar Primera for the hub project. This important Internet data center in Batam signifies Sinar Primera’s commitment to promoting real estate in the new economy and is fully aligned with our vision and their extensive experience and industry knowledge, which perfectly complement the investment capabilities of Gaw Capital Partners.” In recent years, Asia has been a prominent region in the data center sector, offering many opportunities for growth and development. Gaw Capital Partners’ data center platform, in line with this trend, already includes a strategic data center network located in key Asian markets including China, Indonesia, Japan, Korea, Vietnam and recently Malaysia”

Cocoon Capital

Augmentus, a Singapore-based firm in no-code robotics software, has successfully raised $5 million in Series-A funding. The round was led by Sierra Ventures, along with Cocoon Capital, Augmentus said in a statement on Tuesday. According to the statement, the funds will be used to scale operations in the United States, Europe, and Asia, meeting increasing customer demand of various industries and sizes. Augmentus has supplied to more than 30 manufacturers worldwide, including Fortune 500 companies. The platform is compatible with over ten major robot original equipment manufacturer (OEMs), including ABB, Kawasaki, and Kuka. As part of its expansion plans, Augmentus will leverage its Augmentus System Partner (ASP) program to onboard system integrators and channel partners, focusing on high-mix and complex manufacturing. A portion of the investment will also be allocated to intensify research. “We are excited to tap into Sierra Ventures’ expertise and network to execute our commercial plans and enhance our product,” said Leong Yong Shin, Co-Founder and Chief Executive Officer of Augmentus. “We are also thrilled to receive Cocoon Capital’s continued support for our vision, “This funding highlights the potential future where robots can adapt to any part and process with no downtime and expertise required,” he added.

ELSA

The English learning application ELSA Speak adds the feature of applying generative AI, allowing users to create and practice any role-playing conversation situation using voice. Specifically, with the ELSA AI feature integrating generative artificial intelligence technology, users can choose four situations related to work and real life with two options: built-in or self-created. specific communication topic. The application also suggests sentence patterns to help basic-level learners know how to maintain a conversation and more easily hone their reflexive communication skills. Besides, after each conversation, ELSA AI will provide a detailed assessment of the user’s speaking skills according to the following factors: pronunciation, intonation and grammar. A representative of the unit shared, ELSA expects this new feature to become one of the optimal English self-study features for users to practice quick reflex skills in real communication situations on the phone. ELSA AI is one of the unit’s new achievements, launched after successfully raising Series C capital of $23 million. Ms. Van Dinh Hong Vu – Co-founder and CEO of ELSA shared. With this new investment, the company continues to promote product development and conquer more new areas. This capital is used to focus on development in Vietnam and Taiwan, expand to the Middle East and Turkey, and at the same time, promote the Japanese market to continue the success with student user groups and customers. business cooperation. “English is the most requested language by many employers around the world. We want to help our workforce access the global job market more easily thanks to good foreign language skills,” she emphasized. Previously, with $27 million from leading investors in Silicon Valley, this startup has continuously improved ELSA Speak over the past 8 years by taking advantage of artificial intelligence. Because I algorithms identify each level and proactively adjust the appropriate path, a convenient learning experience for each individual is created. According to a report by Grand View Research, the market size of AI applications in global education is expected to reach 32.3 billion USD by 2030. After many years of development, ELSA Speak helps users learn to speak and communicate in English by comparing their voice with the standard native accent. This startup’s artificial intelligence technology is developed by collecting English voice data from many different countries. From there, the application identifies errors when using this language by non-native speakers and provides instructions for correction. According to the unit’s recent announcement, ELSA Speak has had more than 50 million downloads worldwide. To experience unlimited conversations with ELSA AI, users need to upgrade to the ELSA Premium package. In addition to the above new features, the package includes ELSA Pro – the basic paid package of the application, which helps score and edit the pronunciation of each syllable according to a personalized learning path. Based on each person’s level, the app recommends daily lessons to improve pronunciation, listening, intonation and fluency skills through simple lessons, conversations and games. In addition, the package includes ELSA Speech Analyzer – an English speaking analysis and practice tool with the ability to record and evaluate free speech based on 5 factors: pronunciation, intonation, fluency, vocabulary and grammar. At the same time, this program is capable of predicting speaking test scores for international certificates such as IELTS, TOEIC, TOEFL, PTE and CEFR.

FUNDING

Mobile World
Mobile World Group chairman Nguyen Duc Tai has registered to buy one million shares of the company after they fell to a three-year low. The transaction, which is scheduled between Nov. 8 and Dec. 12, will increase Tai’s total ownership to 36.1 million shares, or a 2.46% stake in the electronics retail giant (MWG). At current prices, the deal is estimated to cost Tai VND39 billion (US$1.6 million).

Saigon Hi-Tech Park
Associate Professor Dr. Nguyen Anh Thi, head of the management board of the Saigon Hi-Tech Park in Ho Chi Minh City, has hinted at setting up a microchip development fund worth US$5 million to train 50,000 engineers nationwide. The fund is aimed at easing a potential shortage of workers facing the microchip industry in the future. To become an integrated circuit design center in Vietnam, Ho Chi Minh City should train nearly 40,000 engineers from now until 2030, equivalent to some 6,000 engineers a year.

Quang Tri Province
Quang Tri Province in north-central Vietnam has called on private investors to pour a combined VND14.7 trillion (US$602 million) into various projects to promote its night-time economy from now until 2030. The province calls on investors to channel funds into such tourism projects as a VND2-trillion ($81.7 million) commercial service and entertainment center in Dong Ha City, a VND1-trillion ($40.8 million) Lao Bao international border gate service center in Huong Hoa District, a VND4-trillion ($163.6 million) resort complex in Gio Linh District, and many others.

Netflix
Netflix launches film fund worth VNĐ5 billion (US$192,300) for Vietnamese filmmakers. The fund was announced in a livestream event titled “Cinema Beauty – Việt Nam Creative Economy Fund” on October 31 with the support of the Ministry of Culture, Sports and Tourism, representatives of the Hồ Chí Minh City Film Association and many Vietnamese artists. YeahOne Entertainment Company in Việt Nam will manage the fund on behalf of Netflix.

VIETNAM TECH AND
STARTUP ENVIRONMENT

“Three Vietnamese businesses, namely Pho’s, Phuc Tea milk tea, and Care With Love spa, have clinched franchise agreements with their partners in the Philippines. During the launch event of the Go Global Franchise Fund (GGFF) on November 2, a representative from Go Global Holdings said that this marks the first occasion when three out of the nine businesses within the Go Global Holdings ecosystem have successfully expanded their franchises into the Philippines. Among them, the spa brand Care With Love and milk tea brand Phuc Tea have signed master franchise contracts with their partners. The first Care With Love store in the Philippines is expected to open within the next two months. Meanwhile, the franchise partners of the Phuc Tea brand plan to open around 20 stores in Manila by 2024.”

“Apple supplier Luxshare ICT has received approval for its proposal to expand a factory in the northern province of Bac Giang at a cost of US$330 million. The expansion of the plant in the Quang Chau Industrial Park, to be completed within 24 months, will increase the project’s total investment to $504 million, according to local authorities. The Chinese company first invested in Bac Giang in 2019 and has one more factory in the province. In the last two months Luxshare has been seeking to hire 20,000 new employees for its two plants.”

“Technology giant FPT has acquired U.S. engineering services company Cardinal Peak, its third acquisition in that market this year. FPT expects the investment to double its revenues from product engineering services – which include hardware and software development – in the Americas in the next two years. The Colorado state-based Cardinal Peak has 100 engineers in the U.S. Earlier this year FPT had acquired the IT services division of tech firm Intertec International and stakes in Landing AI, a leading computer vision and AI software company, in the U.S. It has committed to investing US$100 million in the Americas this year.”

“BE Semiconductor Industries N.V. (Besi), a Dutch maker of chip equipment, will develop a factory project for semiconductor equipment components with a firstphase cost of US$4.7 million in the Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City, an economic hub in southern Vietnam. With the certificate, Besi will develop and operate a factory to manufacture semiconductor equipment components in the SHTP in 2025, according to Voice of Vietnam. The project has an operating term of 50 years and will cost more than VND115 billion ($4.7 million) in its first phase.”

“Chinese solar panel maker Trina Solar is planning to invest an additional $420 million in Vietnam’s northern province of Thai Nguyen, raising its total investment in the country to nearly $900 million, the provincial government said on Sunday. Reuters in September exclusively reported that Trina, one of the world’s biggest solar panel makers by sales, would invest $400 million in a new plant in Vietnam.”

“In the near future, Vietnam will become a reliable partner and an important link in the global semiconductor manufacturing and supply chains,” according to Minister of Planning and Investment Nguyen Chi Dung. The semiconductor industry is of strategic importance globally and Vietnam is participating more strongly in the regional and global semiconductor ecosystems. The Foreign Investment Agency under the Ministry of Planning and Investment said that foreign direct investment (FDI) into Vietnam reached more than 25.7 billion USD in the first 10 months of this year, up 14.7% year-on-year.

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Filmmaker Victor Vu has announced that “Nguoi Vo Cuoi Cung” (The Last Wife) is set to screen in the U.S., Australia, and New Zealand in December. The film has grossed VND78 billion (US$3.2 million) domestically.

According to Thanh Nien Newspaper, as a VietnameseAmerican born and raised in the U.S., Vu did not have many chances to be exposed to Vietnamese culture throughout his childhood. And in the limited cultural products featuring Vietnam he had the chance to see, Vietnamese people were often portrayed unremarkably.”

“According to Ms. Nguyen Thi Thanh Thuy, Deputy Director of the HCMC Department of Culture and Sports, the city identifies eight cultural industries, including film, performing arts, fine arts, photography, exhibitions, advertising, cultural tourism, and fashion. In the field of cinema, the city boasts 873 out of a total of 17,670 cultural enterprises. However, considering the production value of cultural industries up to 2020 (the last year with available statistics), the film industry contributed VND3,367 billion (out of the total of VND36,732 billion for all cultural industries), ranking below advertising and exhibitions but significantly surpassing cultural tourism, fine arts, and photography.”

“Hollywood studios and the union representing some 160,000 actors have reached a tentative agreement to end a strike that’s shut down TV and film production. The SAG-AFTRA TV/Theatrical Committee approved the tentative agreement in a unanimous vote, according to statement Wednesday from the union. The 118-day strike will end at 12:01 a.m. Thursday.”

“The Ministry of Culture, Sports, and Tourism, along with Lam Dong Provincial People’s Committee, are jointly organising the event. The Film festival aims to promote Vietnam’s cultural identity, said the organisers. The event consists of opening, closing, and awarding ceremonies. Additionally, conferences will be held to discuss the intellectual aspects of films and establish evaluation criteria aimed at developing the film industry. It will also feature interactions between artists, audiences, and students, as well as outdoor film screenings.”

“The inauguration of the National Innovation Center (NIC) under the Ministry of Planning and Investment in Hoà Lạc HiTech Park recently cemented innovation as society’s driving force. A series of events have been held at the NIC recently, including the Vietnam International Innovation Expo 2023, the Technology Experience, an e-sport tournament, TEAM activities for high school students, the Gala for Better Choice Awards votes, and the Car Choice Awards.
During the gala, top honours were awarded to Việt Nam’s latest products by leading brands including Viettel, Win/Winmart and FPT. At the gala, a newcomer from the third season of the Rap Việt competition Double2T performed his huge hit À Lôi. It was a roaring success. The show also featured another top rapper Đen Vâu, whose music videos go viral on YouTube every time he releases them. Đen Vâu started as a barefoot rapper with catchy tunes, great flow, and meaningful lyrics.”

“Young singer and songwriter Phương Mỹ Chi is sharing her love for Vietnamese folk culture through a new project to celebrate her 10 years in the music industry. “I love the beauty of traditional culture. It’s in my blood,” Chi told local media. Chi is dubbed “Cô bé Dân ca” (Teen Folk Songstress) due to her love and passion for folk music and traditional culture. The 20-year-old joined the music industry in 2013 after being the runner-up in the first season of The Voice Kids of Vietnam, a reality television singing competition for children from six to 14 years old, based on the concept of The Voice Kids of Holland.”

STRATEGIC ALLIANCE VIETNAMESE VENTURES INTERNATIONAL

VENTURE CAPITAL ORGANIZATIONS IN VIETNAM

Antler
Website: antler.co
Contact: https://www.linkedin.com/in/jonssonej/
Pre-seed to Seed
Every sector

Ascend Vietnam Ventures
Website: https://ascendvietnam.com/
Contact: contact@ascendvietnam.com
Every sector
Pre-product market fit

Cocoon Capital
Website:cocooncap.com
Contact:will@cocooncap.com
Seed Round, Series A, Series A
AI, Enterprise Application, Fintech, Insurtech, SaaS, Machine Learning

Do Ventures
Website: https://doventures.vc/en
Contact: https://doventures.vc/en/contact
Early stage
Every sector

East Bridge Partners
Website: https://www.eastbridge.asia/
Contact: info@eastbridgelp.com
Mid-cap investment
Every sector

Gaw Capital Partners
Website:http://gawcapital.com
Contact:info@gawcapital.com
Real estate sector

Golden Gate Ventures
Website: goldengate.vc
Contact: hello@goldengate.vc
Early stage, series A, B
Tooling, consumer apps, SaaS, logistics, e-commerce

IT-Farm
Website: https://www.it-farm.com/
Contact: https://www.linkedin.com/company/it-farm-ltd/about/
Seed to series A
IT

Jungle Ventures
Website: https://www.jungle.vc/
Contact: contact@jungle.vc
Pre-seed, seed, series A
Technology startups

Monk’s Hill Ventures
Website: monkshill.com
Contact: ir@monkshill.com
Series A
Technology startups

Patamar Capital
Website: https://patamar.com
Contact: https://www.linkedin.com/in/geoff-woolley-b0665/
Technology startups

Quest Ventures
Website: https://www.questventures.com/
Contact: info@questventures.com
Seed to Series A
Multi

SoftBank Ventures Asia
Website: softbank.co.kr
Contact: b_plan@softbank.co.kr
Enterprise Software, Mobile

ThinkZone Ventures
Website: thinkzone.vn
Contact: contact@thinkzone.vn
Seed, pre-series A
Fintech, Edtech, Logistics, Ecommerce, Nanotech, Lifestyle, Service

Trihill Capital
Website: https://www.trihillcapital.com/
Contact: INFO@TRIHILLCAPITAL.COM
Early to growth-stage
Solution-oriented companies and transformative founders across sectors and stages.

Vietnam Investments Group
Website: https://ventures.vinacapital.com/
Contact: investment.vc@vinacapital.com
Multi

VinaCapital Ventures
Website: https://ventures.vinacapital.com/
Contact: investment.vc@vinacapital.com
Multi

Wavemaker Partners
Website: https://wavemaker.vc/
Contact: pitchsea@wavemaker.vc 
Seed Round
Tech

Full List Coming Soon To https://www.savvicode.com/

FILM AND MUSIC ORGANIZATIONS IN VIETNAM

Southern Star Creatives Foundation (SSCF)
Website: https://www.southernstarcreatives.org/
Contact: christianallyn2000@gmail.com 
Type: Nonprofit, film funding, documentary funding, music funding, etc

POPS
Website: https://popsww.com/en/
Contact: https://popsww.com/en/about/#contact-us
Type: Streaming, network, studio.

Bamboo Artists Agency
Website: https://bambooartists.agency/
Contact: +84 79 789 1168
Type: Talent agency.

Xine House
Website: https://www.facebook.com/xinehouse
Contact: we@xinehouse.com
Type: Community, industry education.

Sunwolf Animation Studio
Website: https://www.sunwolfstudio.com/
Contact: leodinh@sunwolfstudio.com
Type: Animation studio

Autumn Meeting
Website: https://www.facebook.com/autumnmeeting
Type: Cinema event.

Full List Coming Soon To https://www.savvicode.com/

AboutNguyen Phan