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SAVVI NEWSLETTER (OCTOBER 2023)

10_october_2023

SAVVI HIGHLIGHTS

Founder Spotlight:  Tay Nguyen

Special Promotion and Event for SAVVi Community: Phat Burger Halloween Popup

Network News:  Jungle Ventures, Patamar Capital, MeridianLink, Dat Bike

Funding: Air City, Vulcan Augmetics, Masan Group, Tin Thanh Group

Vietnam Tech and Startup Environment: Semiconductor manufacturing investment, international startup cooperation, drug production, and more

Vietnam Film and Music Industry News: International music collaborations, film festival, the overall music market, and more

DID YOU KNOW?

Vietnam is one of the most geopolitically neutral countries on Earth Vietnamese luxury dress designers are among the most in-demand in the world Within 10 years, Vietnam will be the second largest rice exporting country

FOUNDER SPOTLIGHT

Tay Nguyen

Tay Nguyen has been a founder, technology executive, and entrepreneur in multiple industries. He has a Bachelors and Masters degree in Aerospace Engineering from Texas A&M University, where he was awarded a full academic scholarship as a National Merit Scholar.

After graduation, Tay spent several years as a consultant and technology architect for Accenture, working in the energy sector in Houston, Texas. During his time at Accenture, where he was entrusted with designing and deploying cutting edge technology, Tay learned to put people first, whether they be clients or fellow team members. This philosophy served him well when he left Accenture in 2000 to co-found DivX with two of his Aggie roommates.

At DivX, Tay led the engineering team for four years, and then the consumer software business unit for three years. DivX took advantage of the rise in creation, distribution and consumption of Internet video content, at a time when it was costly to deliver large files over the Internet due to high bandwidth costs. For context, a T1 line, with a throughput of only 1.5 Mbps, cost approximately $1000/month in 2000. Compare that with today’s prices, where 1,000 Mbps can be had for $65/month. That’s over six hundred times more bandwidth for less than one tenth the cost!

DivX video compression allowed substantial reduction in file sizes, while maintaining high visual quality. This was due to the international team of rock star codec engineers recruited to solve difficult algorithm and chip level optimization problems. In addition to technology innovation, the company also created an innovative business strategy, driving mass market consumer adoption first by making the codec tools easily available to the public and working directly with burgeoning online video compression communities. This consumer first, brand building strategy eventually drove consumer electronics manufacturers such as Sony and Samsung to negotiate deals to incorporate the DivX technology and brand into their DVD players, TV’s and other consumer electronics devices. Similar to Dolby, DivX built a large revenue stream from licensing its technology and brand to the CE manufacturers.

In 2006, DivX had a successful IPO on the NASDAQ. While many would consider an IPO the pinnacle of entrepreneurship, Tay, and his roommates, left shortly after the IPO, chafing against the constraints that a public company placed on their entrepreneurial spirit.

Tay continued to follow his philosophy of people first, partnering with friends on entrepreneurial projects, big and small.

Dr. Dominic Munafo, Tay’s friend and Chief Medical Officer at SleepData, the largest sleep medicine clinic in Southern California, hired Tay to be the company’s President and COO. As an executive at SleepData, and its spinoff company, Optisom, Tay had the opportunity to apply technology to deliver more cost effective healthcare solutions that resulted in better patient outcomes.

Tay was lured away from healthcare by a DivX alumni who was a partner at a VC firm. The role of VP of Operations at AlphaRing, a fusion energy startup, was a dream job for Tay. Even though he held a VP title, Tay got to be hands-on in the lab, working with PhDs solving unique problems in particle physics. His personal highlights from this time include writing software to detect neutron emissions from high energy particle collisions and turning a wrench to build high vacuum chambers.

However, traveling every week between SoCal and the Bay Area proved to be unsustainable for Tay’s family life, so he resigned from AlphaRing, but was promptly offered a consulting, and shortly thereafter, the CEO position at Activbody, a company owned by an AlphaRing investor.

Activbody, whose products include Activ5, a connected fitness exercise device, and Activforce, a medical device used by physical therapists, was based in San Diego, allowing Tay to spend more time at home with his wife and teenage son and daughter. However, as the old adage goes, be careful what you wish for, because two months into his tenure as CEO, the pandemic hit and he spent much, much more time at home than expected! Tay navigated Activbody through those unprecedented times, and once the world had returned to semi-normal, decided to pull back from work to enjoy his family, his 14 nieces and nephews, and other aspects of life.

Currently, Tay and his wife, Ann, reside in a suburb of Minneapolis, having relocated there to be close to their children, who attend college at the University of Minnesota. When not consulting for startups, Tay runs half-marathons, with a goal of running a full marathon someday, works on perfecting his espresso, and reminisces about the days when he could go surfing on a whim.

Tay is profoundly grateful for the perseverance and sacrifices made by his parents who immigrated to the US from Vietnam with Tay, who was three years old at the time. Having started at the very bottom of the socio-economic ladder, Tay appreciates every day of his blessed life and endeavors to pay it forward by helping entrepreneurs with actionable, meaningful, and relevant advice.

You are invited to a Zoom webinar.

When: Oct 31, 2023 02:00 PM Central Time (US and Canada)

Topic: Founder Spotlight: Tay Nguyen, DivX bringing Internet Media to the Masses

Please click the link below to join the webinar:

https://us06web.zoom.us/j/82756696101?pwd=ljqFgyEKGmmnbYZ3LOW3dTGremRr4A.mN-GsS9qFovG_O-W

Passcode: 370089

SPECIAL PROMOTION AND EVENT FOR SAVVI COMMUNITY

SAVVi Code is pleased to collaborate with Phat Burger Bro, a burger bistro founded by an American for the Asia market. Phat Burger will only be available for 2 days at Lush Saigon during Lush’s annual Halloween party, the biggest Halloween celebration in Ho Chi Minh City with over 10k party goers. Come have a great American burger, meet the founder, and celebrate entrepreneurship -10% off for SAVVi subscribers.

SAVVI NETWORK NEWS

UPDATES

Jungle Ventures
Showroom B2B, a supply chain platform in the fashion and apparel sector, has raised $6.5 million in a pre-Series A funding round led by Jungle Ventures with participation from Accion Venture Lab, Saison Capital and ICMG Partners. Existing backers Strive, Gemba Capital, Titan Capital, Alteria Capital and Stride Ventures also participated in the round. Entrackr exclusively reported about the new round in June. Previously, it scooped up $1.35 million in seed funding in January this year and $180,000 in angel round in 2021. The proceeds will be used in scaling the company’s phygital distribution model and opening additional experience stores across India’s tier II and III markets, Showroom B2B said in a press release. Started by Abhishek Dua and Shubham Gupta in 2021, Showroom B2B combines digital and physical markets to offer a unique proposition to manufacturers and retailers. It covers major apparel fashion categories like men’s, women’s, and children’s wear. It has tied up with more than 500 garment manufacturers and 3,000 retailers. In May, Singapore-based Jungle Ventures announced a $600 million fund for new and follow-up investments in its portfolio companies. Its portfolio of B2B startups includes Moglix, CityMall and NirogStreet.

Patamar Capital

In the field of startup investment in Southeast Asia, Beacon Fund is a new name and quite secretive. Before the commitment of support from DFC, the Beacon Fund was incubated by Patamar Capital, together with Vulpes Investment Management. Although it is a new and rather secretive name in the field of venture capital, Beacon Fund is supported by the US International Development Finance Agency with up to 50 million USD, focusing on medium-sized enterprises. and small, women-owned. The founder of Beacon Fund is Ms. Shuyin Tang – currently also a partner at Patamar Capital – an impact investment company, focusing on the Southeast Asian market. Beacon Fund was born in 2020, focusing on startups in three main markets: Vietnam, Indonesia and the Philippines. In particular, Beacon Fund mainly supports lending, or investing in small and medium-sized businesses owned by women and with growth potential in Southeast Asia through flexible lending financial solutions. active. Before being supported by DFC, Beacon Fund said it had mobilized about 25% of the target total of 50 million USD from investors. Beacon Fund uses an open fund structure (evergreen fund) – instead of the traditional closed fund model with a term of 10 years.

MeridianLink

In trading on Tuesday, shares of MeridianLink Inc (Symbol: MLNK) crossed above their 200 day moving average of $17.55, changing hands as high as $17.73 per share. MeridianLink Inc shares are currently trading up about 2.3% on the day. The chart below shows the one year performance of MLNK shares, versus its 200 day moving average:

Looking at the chart above, MLNK’s low point in its 52 week range is $12.49 per share, with $22.67 as the 52 week high point — that compares with a last trade of $17.65. powers digital lending and account opening for financial institutions and provides data verification solutions for consumer reporting agencies. MeridianLink’s scalable, cloud-based platforms help customers build deeper relationships with consumers through data-driven, personalized experiences across the entire lending life cycle. MeridianLink enables customers to accelerate revenue growth, reduce risk, and exceed consumer expectations through seamless digital experiences. Its partner marketplace supports hundreds of integrations for tailored innovation. For more than 20 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities

 

Dat Bike

Dat Bike has released details about one of its newer models, the Dat Bike Quantum. Quantum has a range of 270 km, and the automatic throttle feature is equipped for the first time on popular electric motorbikes in Vietnam. The Vietnamese electric motorbike company introduced its latest product called Quantum, with a design similar to gasoline-powered scooters. With this shaping method, Dat Bike’s products are closer to the masses. The company’s previous products such as Weaver, Weaver 200 to Weaver++ all chose a dusty, masculine look but were picky about players. Quantum has a smooth appearance thanks to curved lines on the body, fairing or rear of the vehicle. The overall design is unisex style, suitable for both men and women. In addition to the pure black version, Quantum has two options with combined body color tones to attract young people, including white-black and orange-black. The car is equipped with LED headlights with round lenses and turn signals located on the fairing. Rear LED taillights with three elegant vertical stripes. Multi-color LCD speed screen, smartphone connection. Dat Bike Quantum costs 49.9 million VND including battery. Vietnamese car company warrants Quantum and the car’s battery for 3 years. For customers who buy cars in 2023, the battery warranty is 10 years.

FUNDING

AirCity
Vietnamese startup AirCity, which specializes in the management of buildings, apartments, and dormitories using technology, has revealed that it secured investment from South Korean investment fund Sopoong in the initial seed funding stage. Details of the invested amount remain undisclosed. AirCity, established in 2021, is a technology-driven startup focused on managing various types of properties, including rental buildings, dormitories, apartments, and offices. The startup’s ambitious objective is to expand its reach to manage 100,000 buildings in major Southeast Asian cities.

Vulcan Augmetics
SAVVi community member Vulcan Augmetics, a Vietnam-based robotic prosthetics firm, has on Monday announced that it has secured seed funding from Singapore-based venture capital firm Quest Ventures. Vulcan Augmetics said in a statement that the firm envisions broadening its scope beyond prosthetics to encompass the full suite of wearable technologies, from diagnostic and health devices such as Fitbit to augmented reality (AR) and Virtual reality (VR) control systems.

Masan Group
U.S. private equity firm Bain Capital has made its first investment in Vietnam, with at least $200 million in the Masan Group conglomerate, and could bring in other investors to raise that to $500 million, the firms said on Monday. The deal is set to boost competition in Vietnam’s retail market, as rapid urbanization draws domestic and foreign investors looking to expand or gain a foothold in the country of 100 million. Proceeds will go to strengthen Masan’s financial position, said the fast-moving consumer goods firm, which runs more than 3,200 supermarkets and minimarts in the southeast Asian nation.

Tin Thanh Group
Acuity Funding and Tin Thanh Group on Monday concluded a deal in which the former would provide US$6.4 billion for the latter’s green projects in Vietnam and the U.S.. As per the deal, Acuity Funding will pour $1 billion into four biomass power plants and thousands of hectares of grain cultivation in the central and southern regions of Vietnam. These facilities will be located in Da Nang City, Kon Tum Province, and An Giang Province, with a total capacity of 165MW. Acuity Funding also pledged some $1.7 billion for the Vietnamese firm’s project to build a truck service and retreading factory in South Carolina, the United States. The facility will serve over one million trucks in the U.S. to reduce gas emissions, save costs, and advance green energy transition

VIETNAM TECH AND
STARTUP ENVIRONMENT

“Hana Micron, a major business in South Korea’s semiconductor industry, plans to pour US$1 billion into chip production in Vietnam by 2025, according to both local and regional media. The South Korean manufacturer of chip packaging and memory products told Nikkei it is moving equipment to its new, second factory in Bac Giang Province, located in northern Vietnam.”

“The Ministry of Science and Technology has issued a technology transfer registration certificate for AstraZeneca, allowing the company to manufacture advanced pharmaceuticals in Vietnam.

AstraZeneca will provide support in terms of personnel, production lines, machinery and equipment, technical documentation, as well as production and testing processes to Vietnam. The primary goal is to ensure that drug production in Vietnam meets the same standards, quality, and efficiency as the original drugs produced in Europe after the transfer of production lines to the country. Previously, AstraZeneca committed to providing VND2 trillion (equivalent to US$90 million) in funding to Vietnam to enhance the drug production capabilities of local drug firms. Between 2022 and 2030, three brandname drugs from AstraZeneca will undergo technology transfer and be manufactured in Vietnam.”

“VTRE plans to exploit, manage, and operate the mine in accordance with international standards and the European Environmental Certification. This will help ensure compliance with global firms’ requirements on the environment, labor, and products.

Tuan said that till now works of many categories have been ready for execution such as testing rare earth on a small-scale chain, designing a factory, and training experts for a factory separating ores into rare earth.”

“FPT Semiconductor JSC, a subsidiary of FPT Corporation, has recently signed a strategic partnership with U.S.-based company Silvaco to bolster the quality of human resources in the semiconductor industry and explore potentials for business expansion in this thriving sector. Under the partnership, Silvaco, FPT Semiconductor, and FPT University will work together to improve the workforce of semiconductor firms in the U.S. Along with the Government’s efforts, the stakeholders intend to build the Vietnam Semiconductor Training Center to grow and improve the talent pool for this sector in Vietnam.

“South Korea’s Amkor Technology, a global semiconductor packaging and test service provider, inaugurated its 23-hectare factory on Wednesday in Việt Nam. Amkor Technology Việt Nam, located at the Yên Phong II-C in the northern province of Bắc Ninh with a total investment of $1.6 billion by 2035, is one of the largest semiconductor manufacturing plants in Việt Nam. The initial phase, with a total investment of $520 million, focuses on providing advanced system-in-package (SiP) assembly and testing solutions, according to the South Korean group. The group said the factory is among its most advanced facilities worldwide, which will boost the formation and development of Việt Nam’s semiconductor ecosystem. The factory may provide employment to around 10,000 workers once full capacity is reached.”

“As Vietnamese startups have found it hard to access capital, the event is set to provide them with cooperation and development opportunities in Japan, she continued. A highlight of the forum was the introduction by nine Vietnamese and Japanese startups.”

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Music composers Duong Khac Linh and Only C have been working with the Barbadian singer-songwriter Shontelle on a rearranged version of her song “Impossible.” The two musicians met up with Shontelle on Tuesday at a HCMC recording studio. Linh (L) took a photo with the Barbadian singer and said he was glad to welcome Shontelle on her third visit to Vietnam for her performance at the 2023 Miss Earth Vietnam contest’s final night on Saturday. The singer also celebrated her 48th birthday with Vietnamese stars in HCMC last week.”

“Johnny Tri Nguyen returned to acting as he appeared in the series “The Continental: From the World of John Wick” with his girlfriend Nhung Kate. Johhny kept the role a secret before audiences saw him in the second episode of the series, which aired on September 29. His character named Khang, is the master of an assassin named Yen, played by Nhung Kate. Khang appeared at the start of the episode, speaking Vietnamese to Yen and encouraging her to go on a mission for justice.”

“Variety show “Hanh Trinh Ky Thu” (Let’s Feast Vietnam) has been chosen to compete for the Best Reality & Variety award at the Asia Content Awards and Global OTT Awards of Busan International Film Festival. Produced by BHD Vietnam Media Corp in collaboration with the Ministry of Culture, Sports and Tourism and Meta, “Hanh Trinh Ky Thu” features the journey of exploring Vietnam of six teams of content creators from Vietnam, South Korea, the Philippines, Taiwan, Hong Kong and Indonesia.”

“The inaugural WOW K-Music Festival 2023 is scheduled to take place on October 21 and 22 at Van Phuc City, a residential project in Thu Duc City, HCMC. Around 20,000 local and international spectators from regional countries, including South Korea, Thailand, Singapore, and China, are expected to attend the event. With its high-quality modern infrastructure and international-standard equipment, Van Phuc City aims to offer the audience an unforgettable music party, according to the organizer. WOW K-Music Festival 2023 aims to foster cultural exchange between Vietnam and South Korea and promote the Southeast Asian country’s tourism to international tourists.”

“As a country with a large, youthful population, a rapidly growing market for digital services, and a deeply ingrained musical culture, music streaming services in Vietnam are becoming more and more popular. According to a report from the International Federation of the Phonographic Industry, music is the most popular form of entertainment in Vietnam, with 75 percent of Vietnamese people listening to music on a daily basis. Additionally, a significant majority of respondents, 93 percent, use mobile phones to listen to music. In this light, it’s clear that music has become easily accessible and this is creating new opportunities for musicians, audiences, and businesses.”

“The first six months of the year witnessed a sharp increase in the local box office, clocking up 23 million admissions, comparable to the all-time high of 48 million recorded back in 2019 before COVID-19. Screen International, a British film magazine covering the international film business, recently published an article noting that Vietnam is on track to become a dynamic content market in Southeast Asia (SEA), particularly as it boasts a booming production sector, a boost in box office numbers, and international awards. The Vietnamese film industry is therefore celebrating its recent successes, including international accolades and local box-office record-breakers, the article wrote.”

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