newsletter_april_2024
Newsletter
[ May 6, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (APRIL 2024)

SAVVI HIGHLIGHTS

Founder Spotlight: Nhat Nguyen, Co-Founder of Otrafy

Network News: Marvell, Golden Gate Ventures, SoftBank Ventures Asia, VinaCapital Ventures

Funding: Kamereo, Alterno, Tepbac, CNV

Vietnam Tech and Startup Environment: FDI, Hi Tech Manufacturing, and More

Vietnam Film and Music Industry News: Film Festivals, Awards, International Success, and More

DID YOU KNOW?

Vietnam has more public libraries than every other Southeast Asian country combined Vietnam has the highest density of electric vehicle (EV) charging stations in the world Vietnam is the second largest exporting nation in Southeast Asia, after Singapore

FOUNDER SPOTLIGHT

Nhat Nguyen, Co-Founder of Otrafy

Nhat Nguyen is a truly resourceful founder, using his two decades of work experience across three countries to masterfully carve Otrafy’s path to success. After less than 5 years into his career, Nhat moved into entrepreneurship when he founded Otrafy, a high growth B2B SaaS workflow platform that leverages AI technologies to address manufacturing challenges. Since then, Nhat has utilized any and all startup support systems he could find to help Otrafy succeed by drawing the attention of investors, raising seed funding, and negotiating an impressive valuation. Some of these support systems include joining one of the top startup accelerators in the world; the Techstars Farm to Fork Program in the USA to gain knowledge and experience to better run and organize his startup, winning the National Innovative Technopreneur Contest, and joining BLOCK 71 – a collaboration between a Singapore university and BECAMEX – a corporation with offices in Singapore and Indonesia.

According to Nhat and his co-founders, Otrafy’s vision is to be the source of truth for real-time food history and safety information by building the data infrastructure to enable the transaction of products between different parties and jurisdictions. They aim to make managing documents easier, make tracing origins effortless, and make life simpler for their customers. This aspiration appeared compatible with the investment strategy of many VCs, making it easier for Otrafy to get their foot in the door and give them a bargaining chip when it came to negotiating the valuation of the startup.

To date, Nhat has orchestrated the design and implementation of an Agile framework at Otrafy, adeptly scaling the company from a 3-person startup to a robust 40-member team, geographically distributed across 3 different continents (US, Vietnam and Brazil) while hiring, training, and leading many of them himself. Since the beginning, he has owned and executed Otrafy products strategy. Most notably, he decided to pivot Otrafy’s technology from blockchain to AI in 2019, significantly broadening their customer base and achieving product-market fit. This involved sunsetting existing products and rehiring of the engineering. Impressively, he also spearheaded the customer discovery process with 30 food manufacturers in the Midwest region within a month. With such dedication and hard work, it is no wonder he was able to raise $1 million pre-seed from angels and another $2 million of seed funding from VCs.

Personally, Nhat’s hobbies include soccer, bouldering and board games. His ultimate goal in life and business is to innovate within the space industry by developing products that address significant challenges through advanced technologies. His personal and business philosophy centers around continuous learning and improvement, both in technology and team dynamics. I basically encourage everyone to adapt a growth mindset. He also recently took on the role at the Space Generation Advisory Council as the National Point of Contact for Vietnam, so anyone interested in doing more to help grow the space industry in Vietnam should feel free to talk to him.

Join us to learn how Nhat raised $1 million pre-seed from angels and another $2 million of seed funding from VCs.

You are invited to a Zoom webinar. When: Apr 25, 2024 02:00 PM Vietnam

Topic: Founder Spotlight: Nhat Nguyen , Raising Seed Funding and VC Valuation

Please click the link below to join the webinar:

https://us06web.zoom.us/j/88425270195?pwd=mF9Kk3hhsONzN5GhartgtdsMWw0HZw.SwBbqRwiCKivBorR

Passcode: 303832

SAVVI NETWORK NEWS

UPDATES

Marvell

Marvell has seen a large boost in value this year, rising about 73%. Why? Signs point to the AI chip craze. Marvell’s expertise is not in GPUs. Although the company develops and sells a diverse set of products, its specialty is in Digital Signal Processing (DSP) and Application Specific Integrated Circuits (ASICs). Marvell works with a partner, like Amazon’s AWS, to design and develop a bespoke chip to solve a unique problem. Marvell recently hosted its Accelerated Infrastructure for the AI Era Event in New York City. The event featured presentations and a Q&A session with the senior leadership team, including CEO, Matthew Murphy. Much of the event was dedicated to explaining new technologies that Marvell has developed – or is just on the horizon – that will allow the company to better position itself in the AI arms race. As AI technology continues to become more powerful, the hardware driving it becomes more complex. Companies, even mega-caps like Microsoft or Google (Alphabet Inc), often struggle to develop solutions in-house and partnering with Marvell and creating custom ASIC solutions becomes more attractive, even necessary, as the arms race grows. The leadership team also focused on the company’s DSP business and its position as market leader. The technology was, as recently as last year, thought of as starting to become obsolete in the AI space. That sentiment has reversed and they are now expected to continue to play a central role.

Golden Gate Ventures

Golden Gate Ventures, a Singapore-based venture capital fund, has on Wednesday announced the appointment of Partner Angela Toy as its Chief Operating Officer (COO). This newly created position reflects Golden Gate Ventures’ commitment to robust expansion and strategic leadership in startup ecosystems as the firm continues to experience swift growth, with presence now across Southeast Asia, Middle East and North America, Golden Gate Ventures said in a statement. In her role as COO, Angela Toy, who is also Partner for Portfolio Growth at Golden Gate Ventures, will play a pivotal role in driving operational excellence, supporting the firm’s expansion initiatives, and fortifying its corporate structure. It is noted that Toy brings to this position a decade of unparalleled dedication and strategic leadership, having been an integral part of Golden Gate Ventures since its inception in 2011, where she served as employee number two. She, who celebrates her 10th anniversary with the firm today, made Partner in mid-2021, assuming a key role in spearheading portfolio growth.

SoftBank Ventures Asia

Style Theory, a platform for renting designer apparel in Indonesia and Singapore, announced today it has raised $15 million in Series B funding. The startup says this is the first closing of the round. It was led by SoftBank Ventures Asia, the early-stage venture arm of SoftBank Group, with participation from other investors, including Alpha JWC Ventures and the Paradise Group. Both SoftBank Ventures Asia and Alpha JWC Ventures are returning investors, having previously participated in Style Theory’s Series A. Founded in 2016 by Raena Lim and Chris Halim to counteract the waste created by fast fashion, Style Theory currently has more than 50,000 pieces of clothing and 2,000 designer bags in its inventory. In addition to its app, the company opened a flagship store on Orchard Road in Singapore last month. On average, Style Theory’s subscribers rent up to 20 pieces of clothing and two designer bags a month and it has delivered more than one million items since launching, its founders say. In a press release, SoftBank Ventures Asia senior partner Sean Lee said, “Fashion has emerged as one of the last frontiers of the sharing economy, and with an attractive business model, Style Theory has proven that the company can change the way people consume fashion in Southeast Asia. I am excited to support Style Theory’s expansion across the region as well as continuous disruption.”

VinaCapital Ventures

VinaCapital Ventures, the technology investment vehicle of VinaCapital Group, has announced its investment in Quickom, a Vietnam-based video conferencing communication provider with proprietary and US-patented technology. It is leading the current 1.5 million USD seed funding round. Quickom was founded in 2021 by Dr. William H. Nguyen, a Vietnamese technology pioneer and serial entrepreneur with a history of successful ventures in communication technology, education, computer network and data security, serving tens of millions of users worldwide. Hoang Duc Trung, Partner at VinaCapital Ventures, said: “Vietnam is quickly closing the gap in terms of technological advancement and the digital transformation of the economy is well underway. Quickom is a perfect example of one of the startups leading the way. Its solutions are innovative and advanced, addressing important current issues such as cyber security and data privacy as well as future cyberspace threats. We are thrilled to be one of Quickom’s early investors and are excited to see where they take the business”

FUNDING

Kamereo

KAMEREO, Vietnam’s pioneering B2B food sourcing platform, is set to transform the country’s culinary landscape following a substantial investment of $2.1 million in pre-Series B funding. Since its inception in 2019, the company has experienced a remarkable average annual sales growth rate of over 300%, solidifying its position as a key player in Vietnam’s food supply B2B ecommerce sector. The recent funding round, co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto, CEO of FOODISON, marks a significant milestone for the company, bringing its total funding to $7.2 million.

Alterno

Vietnamese battery startup Alternō has successfully secured over $1.5 million in an oversubscribed round co-led by leading impact and venture capital funds The Radical Fund (Singapore) and Touchstone Partners (Vietnam). Alternō said in a statement on Tuesday that the round also saw participation from Antler (Vietnam), Impact Square (Korea), and Glocalink (Singapore) along with grants from international organizations, surpassing its initial seed funding target. Alternō is a firm that provides an innovative thermal energy storage solution utilizing sand battery technology tailored for agricultural applications across drying, warming, or heating needs. This patented technology comprises insulated sand with custom heat-conducting tubes.

Tepbac

In Vietnam, one startup is looking to emulate eFishery’s success. Tepbac – which serves 5,000 shrimp farmers in three southern provinces Long An, Ca Mau, and Bac Lieu – is seeking US$10 million to US$20 million in funding to scale its business. CEO and founder Duy Phong Tran, whose family has been shrimp farmers for over 25 years in Bac Lieu, established Tepbac in 2012. Initially, it was just an informational website where farmers can get advice about sustainable shrimp farming practices and technology applications. Tran stated that Tepbac’s revenue in 2023 reached approximately 10 billion dong (US$395,500). The startup offers its IoT device package at around US$2,770 and a Farmnext subscription of US$82 per year.

CNV

CNV, a Vietnamese cloud-based business and marketing solutions provider, has secured US$1 million in seed funding from US- and Singapore-headquartered VC firm Wavemaker Partners. Last week, CNV said its latest funding comes after the company’s “stellar performance” in 2022 and 2023. The company particularly highlighted 2023 as an important milestone in its development for the launch of its Zalo mini apps – which created an app-in-app experience that enabled businesses to acquire users at lower costs and engage them in a “deeper and more seamless manner.” CNV counts multinational corporations, SMEs, and government agencies among its 20,000 customers.

VIETNAM TECH AND
STARTUP ENVIRONMENT

“Vietnam’s trade ministry said on Thursday that automaker Chery had signed a joint venture agreement with a local company to set up an $800 million plant, becoming the first Chinese electric vehicle maker to set up a facility in Vietnam. The manufacturing plant, which will be jointly established by Chery’s Omoda&Jaecoo unit and Vietnamese company Geleximco, will be in the costal province of Thai Binh, the ministry said in a statement following a signing ceremony.”

“U.S.-based Warburg Pincus, a leading global growth investor, announced on Monday its investment in Ho Chi Minh City-based Xuyen A (Trans-Asia), a major private general hospital group. The investment size has yet to be revealed but Warburg Pincus said it is currently the largest global private equity investor in Vietnam. The firm’s investment in Xuyen A, with its full English name being Trans-Asia Hospital Investment Joint Stock Company, underscores its focus on Vietnam’s rapidly emerging healthcare sector, Warburg Pincus said on its website on Monday.”

“Japan’s Meiko Electronics Co. Ltd. has turned the first sod at an electronic printed circuit board (PCB) factory in Hoa Binh Province with a total investment of US$200 million, the fifth of its kind established by the company in Vietnam. The firm conducted a broundbreaking ceremony for the PCB factory in Bo Trai Song Da Industrial Park in the namesake city of the province on Saturday, in the presence of Vietnamese Prime Minister Pham Minh Chinh, Meiko Electronics director and executive vice-president Atsushi Sakate, and other participants.

Covering an area of 9.2 hectares, the factory will be built at an estimated cost of VND4.66 trillion ($200 million), according to Meiko.”

“Prime Minister Pham Minh Chinh on Tuesday requested Apple CEO Tim Cook to make Vietnam the company’s manufacturing hub for its global markets. Chinh told Cook at the Government Office in Hanoi that he appreciated Apple’s expansion in Vietnam in recent years which created 200,000 jobs. He urged the company to support Vietnam in green production manufacturing and clean energy production, while also developing a highskilled labor force to establish the country as its manufacturing hub. The PM promised to establish a task force to support Apple’s operations in Vietnam. Cook said that he was having a “wonderful” trip in Vietnam where he had met with many local developers. He added that he wanted to increase partnership and high-quality investment in the country.”

“Growing up, I wasn’t very aware of Vietnam. I never saw tourism ads for the country, at least not in the same way I did for places like Malaysia and India (Malaysia Truly Asia and Incredible India, anyone?). Vietnamese food also wasn’t as popular or easy to find in the malls I frequented. Now, that’s all changed. Vietnam’s come up on the global stage on all fronts, and its startup scene in particular is in the limelight. Some investors are seeing it as the third major startup market in Southeast Asia, after Singapore and Indonesia.”

“The military-run telecom service provider Viettel on April 10 inaugurated its data centre in Hoa Lac Hi-tech Park in Hanoi – one of the largest data centres in Vietnam so far. The new centre has racks with a capacity of three times higher than the average in Vietnam. It meets the development trend of artificial intelligence (AI) with high-performance computer chips to increase computing ability ”

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“During a 15-minute meeting the two discussed the Vietnamese music scene and the singer’s career trajectory. Suboi played her song, which highlights the societal pressures faced by Vietnamese women to conform. Cook, after listening to the song on Apple headphones, exclaimed it was “so great” and that he absolutely loved it. Suboi, who lives in HCMC, made her way to Hanoi on Sunday following an invitation from Apple. She believed it would be a standard company gathering and was surprised to learn Cook would be attending. She did not do much preparation since she preferred their interaction to unfold naturally, she said.

The meeting was held in a Hanoi studio, where Viet Max, a pioneering Vietnamese hip-hop artist, welcomed Cook and introduced him to local talent.”

“Over 200 Vietnamese and foreign filmmakers, visitors, and artists have gathered at the first ever HCM City International Film Festival 2024 (HIFF 2024), which runs from April 6-13. The event will give awards to outstanding Vietnamese and foreign movies, host multiple relevant activities, and promote the film industry. There are three main competition categories, including Southeast Asian, debut and short films, with relevant awards such as Golden Star for the best Southeast Asian film, Best Emerging Director, Best short film, and HCM City film. There are also personal awards for directors, actors, actresses, cinematographers, editors, and visual effects.

The festival has received over 400 entries, 56 film projects for Chợ dự án (Project Market) and 87 scripts for Vườn ươm kịch bản Việt (VietScript Lab).”

“This is the first time a Vietnamese film has obtained the highest award at an Asian Film Festival in Italy. Vietnamese Ambassador to Italy Duong Hai Hung described this award as a great honour for the entire crew and thanked them for helping affirm the development of Vietnam’s cinematography in the international arena. The film is about a journey of a young man tasked with delivering his sister-in-law’s body to their countryside hometown after a tragic motorcycle accident. Amidst the mystical landscapes of rural Vietnam, he begins a search for his older brother, who vanished years ago. The Asian Film Festival in Italy features new and the best works from East Asia. It is also an occasion for guests, including directors, actors/actresses, and producers, from different countries to meet Italian producers and distributors to seek cooperation chances.”

“The Vietnamese music scene is getting a serious boost, and guess who’s leading the charge? Yep, it’s our talented female artists! From catchy pop hits to fiery rap verses, these ladies are shaking things up and leaving their mark. But it’s not just about the music—it’s about their drive, talent, and determination to succeed. And here’s the best part: they’re not just making waves locally; they’re putting Vietnam on the global stage. Keep an eye out for the latest sensation. She is not just gaining international recognition; she is proudly embracing her Vietnamese roots!”

“In the music video, viewers can enjoy the skilled sounds of the saxophone played to a familiar tune by Kenny G while being treated to visuals of culturally and historically significant locations in Hanoi and throughout the country, including Long Bien bridge at dawn, Hoan Kiem lake on the year-end days, the Imperial Citadel of Thang Long and the Temple of Literature. Speaking at the event, Editor-in-Chief of the Nhan Dan Newspaper Le Quoc Minh said this was the first time the newspaper has engaged in popularising Vietnamese tourism.”

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/

2024_march
Newsletter
[ May 6, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (MARCH 2024)

SAVVI HIGHLIGHTS

Founder Spotlight: Ryvid Founders

Network News: Infina, JK Technologies, Gaw Capital Partners, Jungle Ventures

Funding: NativeX, BlokID, 1Long, Quickom

Vietnam Tech and Startup Environment: Foreign Acquisitions, Investments, Governmental Decrees, and More

Vietnam Film and Music Industry News: Industry Growth, The Most Popular Vietnamese Film of All Time, Trends, Culture, and More

DID YOU KNOW?

Within 10 years, Vietnam’s stock exchange will be among the world’s top 20 largest Within 5 years, Vietnam will be in the top 10 largest exporters of goods to Australia Vietnamese agricultural exports are among the fastest growing in the world

FOUNDER SPOTLIGHT

Founders of Ryvid

Founded by enthusiasts, engineered by innovators, and designed by aerospace industry gearheads, Ryvid was formed by a desire to change the way the world lives, works, and plays through the use of efficient light electric vehicles. At the heart of the company lies four fundamental pillars that define its essence: the unwavering commitment to accessibility, the deep-rooted sense of community, the relentless pursuit of innovation, and the steadfast dedication to sustainability.

Ryvid has recently received a $20 million grant from the California state government, where its products are designed and assembled, with headquarters in Hawaiian Gardens and production in San Bernardino.

Founder and CEO, Dong Tran, is a transportation designer, avid motorcyclist, and gearhead with a passion for innovation and advanced engineering/manufacturing techniques. After graduating with honors from Detroit’s College for Creative Studies, he worked at General Motors, BMW DesignWorks USA, and Toyota’s Tokyo-based Design Laboratory, followed by Honda R&D where he focused on the Civic, NSX, and a Honda EV. Tran expanded into aerospace at ICON Aircraft, where he served as lead designer on the award-winning A5 amphibious aircraft, followed by a design head position at a stealth EVTOL start-up through his design consulting company. Tran’s passion for light vehicles stems from his roots as a car and motorbike builder from a very young age, lending him a unique perspective on Ryvid and the future of transportation. Tran says, “Seeing the Ryvid Anthem in my garage gets me emotionally charged. Ryvid is going to have a huge impact on how people view light electric vehicles.”

CXO – Vincent Nguyen – A first-generation Vietnamese American and California native, Vincent is a graduate of California Polytechnic University, Pomona. His career spans multiple industries, particularly within aviation manufacturing and production environments.

CTO – Vinh Tran – A Vietnamese American immigrant, Vinh is a graduate of The California Maritime Academy and the University of California, Irvine. He spent most of his engineering career in some of the California Bay Area’s most influential companies.

SAVVI NETWORK NEWS

UPDATES

Infina
South Korea-based JB Financial Group is securing a 3.9% stake in Infina, a retail investing app based in Vietnam, The Korean Herald reported. With the deal, JB Financial aims to facilitate its further expansion in the Southeast Asian country. The company already has a presence there with a brokerage unit called JB Securities Vietnam. JB Financial’s acquisition is subject to increase to 5% depending on the results of collaboration between JB Securities Vietnam and Infina. Hanoi-based JB Securities Vietnam offers financial services such as stock brokerage and corporate bond issuance management. Infina, on the other hand, allows users to invest through a wide range of products, including fixed-income instruments, mutual funds, and stocks. The deal to acquire a part of Infina is the latest in a string of JB Financial deals in the fintech space. It signed an investment agreement to acquire a 15% stake in Hanpass, a Korean firm offering international remittance services, in December 2023. Earlier that year, JB Financial had also participated in the US$36 million series C round of Finda – a loan brokerage and management company – alongside 500 Global.

JK Technologies

During the Tet Lunar New Year celebration, JK Technologies partnered with the Ho Chi Minh City Department of Tourism to bring visitors of Nguyen Hue Walking Street an unforgettable experience; several augmented reality dragons all along the tourist hotspot. Through this partnership, JK Technologies was able to achieve over 15,000 users in just a few days for its newly released app, SeensioGo. The app is part of the company‘s plan to solve the problem of a significant, growing, and unmet demand for mixed reality experiences in social commerce which is caused by the growing accessibility and decrease in price of extended reality hardware. To accelerate this ambition and maintain its position as the number one augmented reality lifestyle platform in Vietnam, the company looks to raise additional funding this year.

Gaw Capital Partners

Gaw Capital Partners, one of Hong Kong’s biggest real estate private-fund management firms, is focusing on logistics in Vietnam and Mexico, as well as the artificial intelligence (AI) sector bailing out distressed office assets in the United States, amid challenges to an economic recovery in mainland China. The US-China trade tensions could continue to be an issue for the next 10 to 15 years, said Goodwin Gaw, the firm’s founder and managing principal. “I want to invest in countries that are the biggest beneficiaries of ‘China plus one’ [strategy],” Gaw said. China plus one seeks diversification for manufacturers by reducing reliance on the mainland as a production base. The world’s second-largest economy is also the largest manufacturer globally, with the most extensive supply chains. Vietnam, India and Mexico are seen as countries most likely to capture business from China. “Vietnam and Mexico are easier as these two countries welcome [Chinese firms] setting up production facilities,” Gaw said. “But India doesn’t like domestic investment from China. “The biggest beneficiaries will be those who allow Chinese factories to open up and hire local labour to produce the same goods for foreign clients.”

Jungle Ventures

The Ayurveda Experience (TAE), a direct-to-consumer (D2C) startup focussing on Ayurvedic products, on Friday, said it has raised $27 million in its series C funding round, led by Singapore-based Jungle Ventures. Last month, Mint was the first to report that the company is looking to secure additional funds. TAE plans to use the funds to deepen its presence in existing markets, improve customer engagement on its platform, ramp up product R&D, and scale new avenues for distribution, according to a company statement. “We are focused towards optimizing the fundamentals of the business with a long-term view to build a sturdy, sustainable business,” founder and chief executive of TAE, Rishabh Chopra, said in the statement. With the latest round, TAE has so far raised a total of $41 million, as per the release. Early investors in the company include Fireside Ventures and Riverwalk Holdings. Founded in 2010, TAE operates across North America, Europe, Canada, Australia, and India. It offers a variety of Ayurvedic products through four proprietary lines: iYURA, Ajara, A Modernica Naturalist, and Ayuttva. These products are manufactured, sold, and distributed via its platform, along with a range of services including consultations, content, webinars, and courses on Ayurveda. The company claims to have a global sales footprint in 20 countries, including India, with over 97% of its sales coming directly from its app and website. “As India continues to assert itself on the global stage, a distinctive opportunity arises for our entrepreneurs to establish global brands with uniquely Indian flavours. The remarkable accomplishments of TAE’s team, achieving a sizable scale with minimal resources are truly commendable,” Arpit Beri, partner at Jungle Ventures.

FUNDING

NativeX

Established in April 2023, the online English-learning platform offers live classes taught by foreign experts. The edtech startup has recently wrapped up its seed round by raising US$2.5 million, which brought the total to US$4 million. Ansible Ventures and Blueprint Ventures co-led the round, with participation from Northstar Ventures and other investors. Planning to spend 80% of the new funds on product enhancement, NativeX is preparing to launch a dual learning program in June. It is going to combine English conversation lessons and soft skills training, said Ai Chau, co-founder and academic head at NativeX.

BlokID

BlokID, a Vietnam-based developers of blockchain-powered privacy protection solutions for the digital advertising industry, has on Wednesday announced the completion of a $1.25 million seed round of financing led by Ascend Vietnam Ventures (AVV) and AppWorks. BlokID said in a statement that with this round of financing, BlokID will accelerate product development, focus on user acquisition, and initiate market expansion—with an outlook to launch by the second quarter of 2024. Founded in July 2023, BlokID is a next-generation developer of privacy protection solutions for the digital advertising industry, leveraging blockchain technology to bring an independent, immutable source of truth to digital advertising.

1Long

Vietnam-based 1Long, an advanced financial technology platform focused on helping individuals achieve financial goals, today announces securing a US$500,000 investment in a pre-seed round. The funding, contributed by major investors including Iterative, Monk’s Hill Ventures, R2VP, and Orionis Capital, reflects the confidence key industry players have in 1Long’s innovative approach to wealth management. The new capital will be channeled into technology development, partnerships with asset managers and financial institutions, and strategic team expansion.

Quickom

VinaCapital Ventures, the technology investment vehicle of VinaCapital Group, has announced its investment in Quickom, a Việt Nam-based video conferencing communication provider with proprietary and US-patented technology. It is leading the current US$1.5 million seed funding round. Quickom was founded in 2021 by Dr. William H. Nguyen, a Vietnamese technology pioneer and serial entrepreneur with a history of successful ventures in communication technology, education, computer network and data security, serving tens of millions of users worldwide.

VIETNAM TECH AND
STARTUP ENVIRONMENT

“Tech giant FPT Corp has bought its first company in Japan as it seeks to strengthen its position in the market. The acquisition of IT services firm Next Advance Communications enables FPT to benefit from a talent pool of 300 engineers with expertise in technology, architecture design, system planning, and other areas, the company said in a statement Friday. FPT hopes to achieve US$1-billion revenues in Japan by 2027 and have foreigners make up more than half of its payroll there. The acquisition of the 13-year-old company reflects FPT’s commitment to assisting Japanese businesses achieve digital transformation and green transformation.”

“Financing remains one of the challenges for SMEs in Southeast Asia. Many of them remain underserved due to difficulties in obtaining financing because of strict collateral requirements and complex screening processes. Validus, a Singapore-based fintech firm, aims to tackle the issue. It uses data analytics, AI, and supply-chain partnerships to provide financing for SMEs in the region. To support its business growth in Vietnam, which it entered in 2019, the company has secured a new investment from Japanese firm Reazon Holdings. The amount was undisclosed.”

“Pham Nhat Vuong, founder of Vietnamese electric vehicle maker VinFast, has launched a new venture that would focus on developing and deploying an EV charging station ecosystem that “prioritizes supporting VinFast vehicles.” Called V-Green, the new company will invest nearly US$404 million over the next two years to build new stations, upgrade and complete VinFast’s existing charging infrastructure, and oversee the stations’ operations and management. Vuong, who is also the Vietnamese billionaire behind local conglomerate Vingroup, holds a 90% stake in V-Green – which is spun off from VinFast’s charging station development division.”

“Under Decree 10/2024, which is effective from March 25, 2024, investors venturing into infrastructure projects within high-tech parks will enjoy a range of benefits, including exemptions from land lease fees and reimbursement for land clearance expenses. Additionally, preferential interest rates on loans and access to capital within established legal frameworks will be made available to support these endeavors.”

“Growing up, I wasn’t very aware of Vietnam. I never saw tourism ads for the country, at least not in the same way I did for places like Malaysia and India (Malaysia Truly Asia and Incredible India, anyone?). Vietnamese food also wasn’t as popular or easy to find in the malls I frequented. Now, that’s all changed. Vietnam’s come up on the global stage on all fronts, and its startup scene in particular is in the limelight. Some investors are seeing it as the third major startup market in Southeast Asia, after Singapore and Indonesia.”

“Prime Minister Pham Minh Chinh has stressed the need to adopt appropriate strategies to attract and retain investments given the growing interest in Vietnam of global technology giants. He was speaking at a Government meeting held in Hanoi today, March 2, which reviewed the nation’s socioeconomic performance in February and the first two months of this year. PM Chinh said international corporations and investors needed a more enabling business environment and that Vietnam should be promoted as an attractive hub for high-tech companies. During the meeting, Government ministers said there emerged positive drivers for Vietnam’s economy early this year, including a robust agricultural sector, a rebound in industrial output, and a big improvement in tourism. However, challenges such as potential macroeconomic instability and a sluggish real estate market persist, they said.”

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Deadline.com, a US premier news source covering the business of entertainment, including movies, television, online, digital and related areas, has described Vietnam as one of Asia’s fastest-growing cinema markets. In an article entitled “How Vietnam Has Become One Of Asia’s Fastest Growing Markets With New Multiplexes, A MovieHungry Audience & Vibrant Local Film Biz” published on February 23, Liz Shackleton wrote that some Vietnamese film-makers shared their views to draw a positive bright outlook for Vietnam’s film industry.”

“Mai,” directed by comedian Tran Thanh, has collected VND500 billion ($20.25 million), surpassing his 2023 superhit “Nha Ba Nu” (The House of No Man) as the highest grossing Vietnamese movie ever. According to Box Office Vietnam, the milestone was reached on the afternoon of March 1, 20 days after the movie hit theaters as “Mai” dominated the box office. The distributor of “Mai,” CJ, said the film has sold 5.5 million tickets. Thanh is overjoyed at the reception since, due to its 18+ rating and a dramatic plot that deviates from the usual Tet comedy, he did not expect it to be such a blockbuster. Notably, he now holds the distinction of directing the three biggest ever hits in Vietnam. “Nha Ba Nu” collected VND475 billion, and the third, “Bo Gia” (Dad, I’m Sorry), grossing VND417 billion.”

“Singers and musicians from the South will appear in a new talk show on Hồ Chí Minh Television (HTV) this week. The show, called Trò Chuyện Cùng Thời Gian (Stories of Time), features Vietnamese music and songs by famous artists. The artists will share and discuss various topics related to Vietnamese music as well as their careers. Their stories will be in the form of an interview or simple conversation hosted by producer Tùng Leo.
The first episode on March 8 highlighted pop star Cẩm Vân.”

“The Vietnamese pavilion left a strong impression on international visitors at an exhibition held within the framework of the World Youth Festival 2024, which is currently taking place in Sochi, Russia. Coming from the Russian city of Tula, Russian youngster Liza and her friends are excited to attend the World Youth Festival 2024 and explore new things from different culture. Amidst a space covered with sounds and cultural colours, she was attracted by the beautiful sound of the Vietnamese ‘dan nhi’ (two-string fiddle). While feeling the melodies she had never heard before in her life, Liza told the members the Vietnam Music and Dance Theatre that she wanted to try playing the instrument.”

“Vietnamese rap has evolved beyond a fleeting trend, solidifying its presence in the music scene. Instead of merely imitating Western styles, Vietnamese rappers craft a unique identity rooted in local experiences and culture. Their original works resonate not only with the artists themselves but also with their local community. The genre’s burgeoning popularity and the increasing recognition of Vietnamese artists, both locally and internationally, underscore its cultural significance. The distinction between a trend and a culture lies in longevity, impact, and community engagement. While a trend enjoys temporary popularity and fades, a culture endures with deep roots in a community or society. It encompasses shared beliefs, values, customs, behaviors, and artifacts that society members use to interact with their world and one another.”

“The popular Vietnamese movie “Mai” will be screened in several foreign markets from March 22, including the United States, the Czech Republic, Germany, and Slovakia, according to local film producer-director Tran Thanh.”

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/

2024_January_february
Newsletter
[ May 3, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (JANUARY-FEBRUARY 2024)

SAVVI HIGHLIGHTS

Network News: Do Ventures, Gaw Capital Partners, Wavemaker Partners, VietnamWorks

Funding: Be Group, Igloo, Copenhagen Infrastructure Partners, Validus Vietnam

Vietnam Tech and Startup Environment: Semiconductor manufacturing investment, AI, EVs, Renewables investment, and More

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

DID YOU KNOW?

Vietnam is the safest place to visit in Asia, according to Global Law and Order Index The WEF Founder predicts Vietnam to be in the top 20 largest economies in the future Vietnamese companies account for around 18% of Cambodia’s economy Vietnamese make up the largest percentage of Japan’s foreign workforce

HAPPY TET

SAVVi Code would like to wish a very happy Lunar New Year to its Members!

As we celebrate the coming and going of the Lunar New Year, we wish you and your loved ones an abundance of joy, prosperity, and good fortune in the Year of the Dragon!

May this special time bring you closer to family and friends, filled with cherished moments and laughter. Let’s embrace the spirit of renewal and hope as we embark on new beginnings together.

May the coming year be blessed with success in all your endeavors, and may each day be a step closer to your dreams. Here’s to health, happiness, and prosperity in the year ahead!

Chúc Mừng Năm Mới!

Warmest wishes,

 

SAVVi Code

SAVVI NETWORK NEWS

UPDATES

Do Ventures

According to Do Ventures, in the face of a difficult global economic context, venture capital activities in Vietnam continue to slow down, marking a decrease for two consecutive years since 2021. Statistics show that in the first 9 months of 2023, the total value of deals decreased by 13%, reaching a total of 427 million USD. This trend is more clearly shown in the sharp decrease of 40% in the number of deals, reaching the lowest level since 2018 with 56 recorded transactions. The number of transactions has also decreased significantly in deals with small and medium capital call sizes, with the most significant decrease of 50% in deals worth less than 500 thousand USD. Meanwhile, the number of transactions in the range of 10 million USD – 50 million USD decreased significantly, still remaining at a higher level compared to the period before 2022. This trend shows the increasing presence of “mature” technology companies in Vietnam’s startup ecosystem. Ms. Do Hoang Uyen Vy, co-founder and CEO of Do Ventures, commented: “In the context of many challenges facing both the domestic and global economies today, raising capital is becoming increasingly difficult. when investors are very cautious with disbursement decisions. When evaluating a company, investors will pay more attention to unit economics instead of rapid growth, especially with early-stage companies. Therefore, startups need to adapt and shift to a sustainable growth model to be able to overcome the current period of volatility.”

Gaw Capital Partners

In compliance with corporate records submitted to local authorities, Gaw Capital Partners has concluded the sale of the Hotel G in Singapore to a company under the ownership of CapitaLand Group. Beh Siew Kim, Hoe Kit Mak, Patricia Goh, and Edward Bin, all senior executives with Capitaland Group’s investment or lodging units, are listed as directors of a special purpose vehicle that houses the 308-key budget hostelry. According to sources familiar with the transaction, the Temasek-backed giant paid just under S$240 million ($180 million) for the property close to the Bugis area. After Mingtiandi revealed that CapitaLand’s Ascott lodging business was conducting exclusive due diligence to purchase the 94,560 square foot (8,785 square meter) hospitality asset from a fund managed by the Hong Kong-based private equity firm, the deal finalized in less than two months. In an interview with Mingtiandi last year, Capital and Investment, the listed fund management division of the largest real estate company in Southeast Asia, stated that it hopes to nearly double its current production from the lodging category by 2028, to S$500 million in fee income. Acquisitions are one of the main strategies the company plans to use to achieve this goal. In 2015, Gaw Capital Partners made its first acquisition in Singapore’s hospitality industry when it paid S$203 million (about $144 million) for the Big Hotel, which was located at the intersection of Middle Road and Bencoolen Road.

Wavemaker Partners

Meiro, a Singapore-based customer data platform, has secured US$3 million in a pre-series A round, marking its first external raise. Wavemaker Partners led the round, with Singapore-based angel investment network Angel Central also participating, Meiro said in a statement. The startup integrates user data from various sources, including social media platforms and websites, to establish a unified database. This is then employed to construct an identity graph, enabling its clients to formulate personalized marketing strategies. Since it was founded in 2018, Meiro has relied on internal funding, with its founders investing about US$740,000 from Datadriven, a consulting firm they also started. The founders previously mentioned to Tech in Asia that securing an investor would not have contributed value to their venture during the company’s earlier days. Meiro has also managed to achieve and maintain its profitability since 2019. However, the latest funds will help the firm expand further as it aims to increase its presence in Southeast Asia and Europe. It also wants to enter the Middle East, opening a branch in Dubai by 2024. The startup also aims to double its annual revenue and expand its team from 50 to 70 members. Moreover, its 2024 plans include incorporating genAI tech into its platform. “While we have always been self-sufficient, this investment will help us address market demand, accelerate the development of our product and business, and strengthen our presence in the international markets while we have a competitive advantage,” said Meiro CEO and co-founder Jana Marlé-Zizková. In 2022, the company’s operating profit grew by 13%, reaching some US$150,000. At the same time, its revenue increased by 60%, totaling US$2 million.

VietnamWorks

VietnamWorks’ “Empower Growth” campaign won the international PR Awards 2023, Asia’s Leading Technology and Asia’s Excellent and Sustainable Enterprise. Understanding the major changes in workers’ perspectives and expectations since the post-Covid-19 “great labor crisis”, in 2022, the VietnamWorks job site under Navigos Group makes a transformation with a new mission. “Empower Growth”. This mission is guided by Navigos Group’s “Human Growth” philosophy with the purpose of accompanying workers and businesses, building a long-term career path. Ms. Pham Thi Phuong Khanh – Marketing Director of Navigos Group said “Human Growth – comprehensive human development” is the philosophy concluded by Navigos Group after more than two decades of operation in the human resources industry in Vietnam. “This is the mission that affirms our efforts in long-term companionship with businesses and workers to develop comprehensively and find meaning and happiness in work,” she shared. Activities within the framework of “Empower Growth” have been recognized by many international awards. Accordingly, the innovation of applying AI to the story of creating Job Envision (a picture depicting a happy career) received a gold award at the “PR Awards 2023” ceremony, in the “Best Use of Technology” category (roughly translated: The most impressive technology application PR campaign). In November, this innovation continued to be recognized at the awards ceremony in Singapore with the “Asian Technology Excellence Awards 2023” award for technology and technological innovation in Asia by organized by Asian Business Review magazine.

FUNDING

Be Group

Be Group has raised over $30 million from VPBank. This investment will add financial potential to firmly support Be Group to continue promoting its strong development strategy since COVID-19, aiming to become the leading multiservice application in Vietnam and better compete with Grab, their regional rival.

Igloo

Igloo closes $36m Pre-Series C funding round, poised for further expansion in Việt Nam. Igloo’s offerings include Ignite by Igloo, a digital platform that enhances the productivity of sales intermediaries in Việt Nam and Indonesia. “With a low insurance penetration rate of 3.3 per cent, Việt Nam presents significant growth potential for the insurance industry and remains a key market for Igloo,” said Trí Nguyễn, Country Manager Vietnam, Igloo. “The additional funding will empower us to drive initiatives for further expansion in the Vietnamese market, including the introduction of new products and fostering collaborative relationships with partners across verticals,” he added

Copenhagen Infrastructure Partners

$3 billion fund to develop renewable energy projects in emerging markets including Việt Nam. With a focus on developing and building offshore and onshore wind, solar PV, energy storage and Power-to-X projects in selected high-growth markets across Asia, Latin America and EMEA, including Việt Nam, the Philippines, India, etc., the fund has a target size of US$3 billion. It is expected to deliver renewable energy infrastructure projects reflecting over $10 billion of capital investment. This will enable more than 10 GW of new renewable energy capacity.

Validus Vietnam

Validus Vietnam, a financing platform for small and medium-sized enterprises (SMEs), has secured an investment from Japan’s Reazon Holdings. The sum was not disclosed. This investment into VGrowth Development Co. Ltd., commonly known as Validus Vietnam, signifies a strategic move to support SMEs in the region, which are often hindered by limited access to traditional funding sources.

Through this investment, Reazon Holdings said that it will actively support Validus Vietnam’s business growth, including support for financing procurement through its group network.

VIETNAM TECH AND
STARTUP ENVIRONMENT

“Prime Minister Pham Minh Chinh has called on global investors to look at Vietnam’s AI, auto and semiconductor industries, saying they are guaranteed government support. He was speaking at a meeting with executives from Google, Mitsubishi Heavy Industries, Qualcomm, and Siemens in Davos, Switzerland, Tuesday where he is attending the World Economic Forum. The meeting, organized by the Ministry of Planning and Investment, the Vietnamese embassy in Switzerland and tech giant FPT Group, prioritized discussions about the three sectors.”

“Vietnamese electric vehicle maker VinFast on Tuesday launched a prototype of its new pickup truck, and said it plans to launch its mini-sized VF 3 model globally. VinFast said the electric pickup truck being showcased at the CES 2024 trade show in Las Vegas, VF Wild, is in the mid-size pickup category. It did not disclose a timeframe for its roll-out or its expected driving range. The company also said on Tuesday its four-seater mini-eSUV VF 3, which has a target driving range of more than 125 miles per full charge, will be up for sale globally, having initially been aimed solely at the Vietnamese market.”

“More than 10 universities across Vietnam have introduced courses in integrated circuit design and technology to meet the increasing demand for skills in those fields. The Hanoi University of Science and Technology has announced the setting up of the semiconductor microchip technology department. The Vietnam-Korea University of Information and Communication Technology is calling for applications to IC design courses and offering scholarships covering 50-100% of fees. Last year three member universities of the Vietnam National University, Ho Chi Minh City – the University of Technology, the University of Information Technology, and the University of Natural Sciences – had gotten approvals to set up IC design and semiconductor technology departments.”

“Investors from Singapore and Taiwan wish to invest more than US$20 million in total in two solar power projects in north-central Vietnam’s Quang Tri Province, the provincial Department of Planning and Investment reported on Wednesday. The two foreign investors are Shinfox Energy Co. Ltd. from Taiwan and Camellia Energy Pte. Ltd. from Singapore. Each of them is planning to acquire shares worth VND122.5 billion ($5.05 million) at Gio Thanh Energy Joint Stock Company, a business located in Quang Tri’s Gio Linh District.”

“Dozens of hybrid and pure electric car models are on display at Yen So Park in Hanoi at an exhibition that opened on Saturday. The Electrified Vehicle Exhibition 2024, organized by VnExpress, is the first exhibition held in Vietnam dedicated to electrified vehicles, with the participation of many famous brands.”

“Vietnam aims to be among four leading countries in ASEAN and 50 globally in terms of AI research, development, and application by 2030. It will strive to build 10 prestigious AI trademarks in the region; and develop three major national data and high-performance computing centres. After two years of implementation, the country has achieved significant results with a number of AI products used in all sectors nationwide.”

“Goertek plans to invest US$280 million to set up a new subsidiary in Vietnam as it seeks to expand in the Southeast Asian market. To be based in the northern province of Bac Ninh, it is likely to manufacture headphones, smart watches and virtual reality and augmented reality electronics products, the Chinese company said in a recent filing with the Shenzhen Stock Exchange. It hopes to “make better use of local resources in Vietnam to enhance the company’s overall competitiveness.” It has been in Vietnam for 10 years with subsidiaries Goertek Vina and Goertek Technology Vina. In 2022 the latter reported revenues of $2.5 billion and a net profit of $191 million.”

“When he became an engineer for leading semiconductor company Renesas, Tran Dac Khoa did not expect to wait for five years to design his first chip. The job, listed in a daily newspaper, came with a short description about the Japanese-owned company, one of the world’s top 10 chipmakers. In 2004, when Renesas opened an office in Vietnam, there were few other technology companies in the country. “It was a dream job for engineers like me,” Khoa recalls. In the early 2000s, semiconductor was an emerging industry in Vietnam. The arrival of Renesas in 2004 and Intel’s US$1 billion assembly and testing plant opening in 2006 were the catalysts that Vietnam needed to kickstart its semiconductor industry.”

“A brief but revealing panic struck Vietnam this month. On January 12th the country’s 79-year-old leader, Nguyen Phu Trong, failed to meet the visiting president of Indonesia. Mr Trong’s name was removed from the official schedule without explanation. Rumours spread that he was dead. For three days noodle shops raged with speculation about who his successor might be. Would it be someone corrupt? Or more pro-China? The ruling Communist Party, a secretive bunch, revealed nothing. Then, on January 15th, official media showed a frail Mr Trong attending a humdrum session of the legislature in Hanoi, as if to holler “I’m not dead!” like a Monty Python plague victim. The public may never know whether it was sickness or something else that made the party chief disappear from view. But it was unsurprising that his absence should scupper a meeting with a global leader. Everyone wants to be Vietnam’s friend these days.”

KP Aero Industries, a South Korean supplier for Boeing, has received approval to invest $20 million in building a factory in Da Nang City to manufacture components for Boeing 787 and 737 Max aircraft. The permits were issued Thursday by the Management Board of Da Nang Hi-Tech Park and Other Industrial Parks. The factory will produce auxiliary power unit doors, wingboxes, and winglets. Construction is scheduled to start in February and is expected to be completed by the end of the year. KP Aero Industries supplies Korean Air’s engineering division, which directly supplies Boeing. This marks the second aerospace project at Da Nang Hi-Tech Park, following Universal Alloy Corporation Vietnam’s establishment in 2019 to produce and export aircraft parts to North America and Europe.”

“Hyosung Group, a South Korean conglomerate known for its expertise in electrical transformer manufacturing, is planning to inject an additional investment of US$2 billion into Vietnam this year.”

“The U.S. has expressed interest in cooperating with Vietnam in renewable energy and semiconductor chip production.”

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Prime Minister Pham Minh Chinh has raised concerns about the prevalence of foreign films in Vietnam, both on television and in cinemas, during the inaugural National Conference on the Development of Cultural Industries. The event, which took place on Dec. 22 and was presided over by the Prime Minister, witnessed participation from numerous governmental departments, UNESCO’s Vietnam representatives, heads of industry organizations, businesses, specialists, and artists. The focus was on the evolution of Vietnam’s cultural sector, including its challenges and potential strategies for improvement.”

“Vocal teacher and singer Ngọc Mai, winner of The Masked Singer Vietnam 2022, has released her latest MV (music video) featuring contemporary folk music. The work features Theo Em Về Nhà (Returning Home), a song that uses Vietnamese folk melodies by young composer Công Tuyền. It is part of the singer’s new album featuring Vietnamese songs about flowers and women. The album is expected to be released next year. Mai worked with her producer, GUNG Production, to record and film the MV with a new style. Vietnamese dances are used to highlight the song’s theme. “My MV showcases a love story of tears and smiles with quality music. I hope to infuse my love for Vietnamese folk music to young fans,” said 36-year-old Mai, who began her career in 2002 in Huế City when she was at university.”

“Jeremy Chua, founder of Singapore-based production company Potocol, produced Vietnamese director Phạm Thiên Ân’s 2023 film Inside the Yellow Cocoon Shell. The film won the Camera d’Or at this year’s Cannes Film Festival and the Best Asian Feature Film prize at the Singapore International Film Festival (SGIFF) earlier this month. At the SGIFF, Lê Hương chatted with Chua about the film and his plans to cooperate with more Vietnamese directors.”

“K-pop idol group TEMPEST performed for thousands of Vietnamese fans at the 2023 HOZO Super Fest in HCMC on Saturday. The group performed a series of hits like “Vroom Vroom”, “Dangerous”, “Can’t Stop Shining”, and “Taste the Feeling”. Member Hyeongseop said the city “feels like home” with the support of thousands of fans.”

“The first HCM City International Film Festival (HIFF) is scheduled to take place in early 2024 and is expected to contribute to the establishment of HCM City as a “film city”. HIFF 2024 is planned to be held from April 6-13, 2024, aiming to discover new talents, nurture young talents in the film industry, and contribute to the development of film in HCM City and Việt Nam as a whole. The films competing at HIFF 2024 will be screened in HCM City, and the winning films will be announced at the award ceremony. Other non-competing films will also be shown in the “Film Gala” programme. Various specialised knowledge training classes conducted by professional filmmakers, directors, actors, and producers will be organised throughout the film festival.”

“Singer My Tam has reached a milestone as the Vietnamese female artist with the most YouTube views, accumulating 1.6 billion. The record was announced on her Facebook account on Wednesday. “I’m thankful to my fans for their constant support, making this achievement possible,” Tam wrote in the accompanying caption. Since launching her YouTube channel on Nov. 20, 2013, Tam has uploaded 481 videos, primarily music videos and behind-the-scenes footage from her concerts and live performances, and gained 2.4 million followers.”

“”The Greatest Night in Pop” by award-winning director Bao Nguyen documents 46 of the biggest names in music coming together to record “We Are the World.” According to Deadline, the documentary revolves around the historic moment on Jan. 25, 1985, when 46 music legends gathered in a Los Angeles studio to record the song “We Are the World,” the sales’ proceeds of which were to be donated to African famine relief programs. Offering a unique perspective with never-before-seen footage and interviews featuring artists who participated in the recording, the documentary chronicles the early planning stages, from the song’s writing sessions with Lionel Richie and Michael Jackson, to the recording session’s memorable night at the famed Henson studio.”

“The entertaining software VieON has released its global version, offering a free trial period with numerous features for the first month. The global version of VieON, a part of the DatVietVAC Group Holdings entertainment media technology ecosystem, was unveiled in early 2024, offering loads of benefits. Its mission is to both satisfy the entertainment requirements of Vietnamese nationals residing overseas and promote Vietnamese cultural values globally.”

“Vietnamese animation studio Sconnect on Wednesday announced the launch of Sconnect Academy of Media Arts (SAMA), Vietnam’s first animation and game design school. Sconnect is the producer of the popular cartoon Wolfoo, an animated series first released in 2018 which follows the adventures of a wolf and his friends and family. The Hanoi-based academy’s mission is to train young talents who have a passion for animation and game design and wish to enter Vietnam’s animation workforce. According to People’s Artist and director Pham Ngoc Tuan, the launch of SAMA signals a boom in Vietnam’s animation industry, helping the future animation workforce unlock the industry’s potential.”

“Mai,” directed by comedian Tran Thanh, grabbed ticket revenues of VND100 billion (US$4 million) after just 3 days in cinemas, the fastest in Vietnamese box office history. On the morning of Feb. 13, the movie surpassed the previous record set by “Nha Ba Nu” (Nu’s Family), the 2023 film also by Tran Thanh. According to the Box Office Vietnam, an independent box office monitoring unit, “Mai” had a screening occupancy rate of 43% over its first three days, attracting 850,000 spectators.”

“Apple debuts its first collaboration with a Vietnamese artist, releasing rapper tlinh’s music video “Dung Lam No Phuc Tap” (Don’t Complicate It) Friday. This collaboration is part of Apple’s “Shot on iPhone” campaign in Asia.”

“Vietnamese-made films tallied more than VND350 billion in ticket sales in the first nine days of the Lunar New Year, between January 22 and January 30, according to the independent analytical website Box Office Vietnam. “Nha Ba Nu” (The House of No Man) by Tran Thanh pulled in VND251 billion, whereas Vu Ngoc Dang’s “Chi Chi Em Em 2” (Sister Sister 2) saw ticket sales totaling VND58 billion. Tran Thanh’s directorial debut earned VND31 billion on a single day, January 25, with 313,000 tickets sold. According to a representative of Lotte Cinema, a worldwide network of movie theaters, the Vietnamese film industry has recovered 90% this year compared to 2019.Local multiplex operator Galaxy Cinema also reported an increase in moviegoers during the holiday weekend between January 27 and 29, the sixth day to the eighth day of Tet, notably in Hanoi and HCMC ”

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/

12_december_2023
Newsletter
[ May 3, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (DECEMBER 2023)

SAVVI HIGHLIGHTS

Founder Spotlight:  No Spotlight this month due to the holidays

Network News:  Golden Gate Ventures, Quest Ventures, BUYO

Funding:  Inflow, Prep, Namitech, Vntrip

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

Vietnam Film and Music Industry News: Box office expansion, recent film successes, film festivals, and more

Network Posting: Marvell looking to hire analog designer

DID YOU KNOW?

Vietnam generates two-thirds of ASEAN’s renewable energy After Singapore, Vietnamese startups raise the most money in Southeast Asia Vietnam is the most searched country in the world by Indians

HAPPY HOLIDAYS FROM SAVVI

Dear SAVVi Community,

We’d like to take this opportunity to extend our warmest holiday wishes to each and every one of you. We hope this holiday season brings an abundance of joy and cherished moments.

May this holiday season bring you many moments of laughter and fun. May the New Year usher in a life of health and prosperity. Dream and dream big!

Thank you for being a part of the SAVVi family. We’ll see you in 2024!

 

Warm regards, The SAVVi Team

SAVVI NETWORK NEWS

UPDATES

Golden Gate Ventures
According to experts from Golden Gate Ventures, in a challenging year for most economies, Vietnam has shifted its economic development into high speed, asserting itself as the new economic growth center. Speaking at the 2023 Vietnam Innovation Investment Fund Forum that took place on October 30, Deputy Minister of Planning and Investment (MPI) Tran Duy Dong said that Vietnam is facing many challenges and mixed opportunities. According to him, despite the unpredictable difficulties of 2023, Vietnam has attracted more than 20 billion USD in foreign direct investment (FDI) in the first 9 months of the year, an increase of 7.7% over the same period last year. Along with that, Vietnam is making continuous efforts to improve the investment environment to attract FDI capital and develop mechanisms to support the innovation and digitalization ecosystem. Policies and partnerships are key to helping Vietnam’s economy stay on track according to the National Master Plan for the period 2021 to 2030. Assessing the Vietnamese economy, Mr. Vinnie Lauria, Founding Partner of Golden Gate Ventures Fund, said that in a challenging year for most economies, Vietnam has shifted its economic development direction to a faster pace, affirming itself as the new economic growth center of Asia. According to him, with a solid position in the global supply chain and continuously receiving investment from multinational corporations, the innovative startup ecosystem is growing strongly, nurturing the desire for change.

Quest Ventures

On the afternoon of November 23, at the National Innovation Start-up Festival (Techfest-Whise 2023) that took place in Ho Chi Minh City, Department of Science and Technology signed a cooperation agreement with Quest Ventures. Collaborative activities include: training and coaching the angel investment fund network, startup accelerator incubation courses, promotion and connection in the field of innovative startup ecosystems. In addition, the Department of Science and Technology of Da Nang City will support workspace for Quest Ventures in Da Nang at Vietnam Innovation Hub. The cooperation between the two parties is an opportunity to learn, share experiences, connect and develop the innovative startup ecosystem in Da Nang; At the same time, it brings the potential to attract international investment capital, promoting innovation and creativity in the local startup community in the coming time. Quest Ventures venture capital fund is headquartered in Singapore. To date, Quest Venture has invested in more than 100 startups in Asia, of which 3 startups have become technology unicorns, valued at $1 billion or more. At the signing ceremony, representatives of Quest Ventures Investment Fund expressed their desire to support and improve the capacity of start-up businesses in Da Nang city, giving portfolio companies access to the international capital market and ecosystem of the fund.

BUYO

BUYO Bioplastics, a Vietnamese startup, has developed technology to convert organic waste into a new kind of material that can replace plastics. This bioplastic product is 100 percent organic and can decompose in a natural environment. Bioplastics are safe to the environment and human health. They contain features of normal plastics and have reasonable production cost. BUYO Bioplastics’ CEO Do Hong Hanh said the most popular organic waste the company uses is brewer’s grains discharged during beer production, and other types of waste from seafood processing. Hanh shared that this is new pioneering technology that has been developed entirely by BUYO’s experts and scientists. BUYO has applied for two patents on bioplastics and is preparing to file two more applications. During the process of developing the product, BUYO received support and consultancy from AB InBev, the world’s largest brewer with a brewery in Binh Duong, as well as from the HCM City Biotechnology Center and the HCM City University of Natural Resources. What differentiates BUYO’s bioplastics from other products is the materials used. All of the materials are organic waste, with no petroleumorigin materials. Also, it doesn’t use starch so the production won’t harm the nation’s food security. Hanh said that bioplastics are degradable in the natural environment and will disintegrate entirely within 3-12 months, while normal plastics need 500 years to fully decompose. The product doesn’t create microplastics. BUYO’s bioplastics production consumes little energy, and organic waste is recycled during the bioplastics production, so it helps minimize carbon emissions and reduce the volume of waste. Another plus of the product is that it has features similar to normal plastics, while its production cost is reasonable. Bioplastics made of brewer’s grains have production costs equal to plastics made of paper and bagasse, and it is more waterproof and heat resistant. After two months of research and development, BUYO has successfully called for $750,000 worth of capital from international venture investment funds. The startup is running a factory in the pilot period with capacity of 10 tons of bioplastics a month in HCM City. It plans to increase production capacity to 100 tons a month in 2024. Vietnamese consume $12 billion worth of plastic products each year, so BUYO’s products have great potential in the Vietnamese market.

FUNDING

Inflow
Inflow, a Vietnamese fashion supply chain platform, aims to further revolutionize the country’s textile and garment industry. The startup company recently received $2 million in seed funding, aiming to further assist Vietnamese small fashion brands bring their designs to life.

Prep
Prep, a Vietnam-based standardized language test preparation platform, is in talks to raise around $6 million in a new funding round. Southeast Asian private equity major Northstar Group is understood to be in talks to invest in the company, according to multiple sources aware of the development.

NamiTech
Vietnamese voice biometrics and natural language processing developer Namitech has secured a US$2 million pre-Series A funding round. The round was led by Thien Viet Securities (TVS), a Vietnamese brokerage house known for backing local e-wallet unicorn MoMo and fintech service Finhay. The Ho Chi Minh-based company, also known as Nami Technology, offers a biometric voice authentication product called VoiceDNA as well as voice analyzing and customer service audio solutions.

Vntrip
Vietnamese travel startup Vntrip said it has secured an undisclosed new funding round from Ctrip co-founder Fan Min and existing investors. Prior to this round, Vntrip had raised over US$20 million from investors such as John Wu, the former CTO of Alibaba, Swiss private bank IHAG, and Hong Kong’s Hendale Capital.

VIETNAM TECH AND
STARTUP ENVIRONMENT

” Vietnam accounted for 69% of ASEAN’s solar and wind generation last year and was the region’s main growth driver in renewable energy development in recent years, a report has found. Vietnam’s share of renewable electricity generation led the 10-country bloc last year at 13% and it was followed by Cambodia, Thailand and the Philippines, according to a report released last week by U.K.-based energy thinktank Ember.”

“Nvidia (NVDA) CEO Jensen Huang reportedly said the company plans to strengthen the company’s partnership with Vietnam’s top tech firms, focusing on artificial intelligence (AI) talent development and digital infrastructure enhancements. Speaking at an event in Hanoi Monday, in his first visit to the country, Huang said Nvidia would expand ties with several Vietnamese companies including Viettel, FPT, Vingroup, and VNG.1 Yesterday, Huang also expressed interest in setting up a second base for Nvidia in Vietnam.”

“According to Nikkei Asia, Apple is working with China’s BYD, a key iPad assembler, to move new product introduction (NPI) resources to Viet Nam. NPI involves a tech company like Apple collaborating with suppliers on the design and development of new products to make sure the blueprints are doable. This is the first time Apple has shifted NPI resources to Viet Nam for such a core device.”

“Kim Kyung Hwan, CEO of Hyosung Vietnam, revealed that the carbon Vietnam fiber plant situated in Phu My II Industrial Park is progressing significantly. This project underscores Hyosung’s commitment to pioneering advanced material production. The proposed biotech fiber facility, to be located in the Phu My 2 Industrial Zone, represents Hyosung’s first global foray into using ecofriendly technology for Spandex fabric production. This initiative aligns with the group’s broader strategy of diversifying its manufacturing portfolio and reinforcing its environmental commitments.”

“FPT, Vietnam’s leading tech firm, announced the establishment of an automotive technology subsidiary in Texas, with a $100 million investment to expand globally to serve clients such as Hyundai and Honda. “We anticipate a total investment of $100 million in the next five years, at a minimum,” FPT Software CEO Pham Minh Tuan told Reuters. “The company will prioritize strategic markets, including the United States, Europe, Japan, South Korea, China, India, and Vietnam,” he added. Separately, the FPT chairman stated that the company would continue to expand globally but that there were no urgent plans to go public in another country to acquire capital.”

“Global e-retail giant Amazon will make Vietnam an emerging link in its global e-commerce supply chain, as the Southeast Asian country has become increasingly prominent as a major manufacturer regionally and internationally, said Eric Broussard, vice-president of worldwide Amazon global selling and international seller services. Broussard made the statement after his business meetings with a number of Vietnamese entrepreneurs, sales partners, and service providers during his recent visit to Vietnam.”

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Broadcast Music Inc. (BMI), the music licensing agency that represents thousands of songwriters, has announced that it will sell to the private equity firm New Mountain Capital, The New York Times reports. Terms of the deal have yet to be disclosed; in August, Billboard cited sources claiming the deal could be worth $1.7 billion. The sale needs to be approved by shareholders and undergo “customary regulatory approvals.” The two sides expect the deal to close by the end of 2024’s first quarter.”

“It’s becoming a critical market for us in terms of collaborations. Every year we launch Call for Proposal for feature films and one of the categories of that is the Southeast Asian Co-production grant, we provide 300,000 dollars for every successful project that we award, but the condition is that it must have a Singapore talent involvement as well as Southeast Asia representation. In the last few years, what we’ve noticed is that increasingly our Singaporean talents have been collaborating with Vietnamese talents. This year, one of the projects that we had awarded was a Singapore-Việt Nam co-production, and we are eagerly expecting that it will be a good production. For example, Inside the Yellow Cocoon Shell, that’s a Singapore-Việt Nam co-production, among others. So we see Vietnamese talent definitely up and coming, especially in the film industry.”

“Judy Song, the daughter of South Korean actor Song Kangho, known for his roles in “Parasite” dedicated three months to learning Vietnamese in preparation for her role in the film “White Butterfly.” Portraying May, a Vietnamese-Korean woman raised in the U.S. who travels to Vietnam after learning of her mother’s death, Song delivers fluent Vietnamese and English dialogue in the film. Her Vietnamese was said to be smooth and emotional. Commenting on the film, Song said May’s story resonated with her own life, as she was also born in South Korea but relocated to the U.S. from a young age. She also recognized how the Vietnamese and South Korean cultures shared similarities.”

“The second Da Nang Asian Film Festival (DANAFF II) will be held in the central coastal city of Da Nang from July 2 to July 6, with the event attracting the participation of leading filmmakers from throughout the Asian region. The event aims to select and honour excellent cinematographic works, encourage talents from both Vietnam and throughout the Asia-Pacific region, and widely introduce new and high-value Asian and Vietnamese cinematographic works to the public. Entries will compete in the Asian films category which is to be decided by an Asian judging panel, as well as the Vietnamese films category judged by Vietnamese experts.”

“The year 2023 marks an important milestone in the history of Vietnam’s cinema when film director Pham Thien An won the Camera d’Or (Golden Camera) for ‘Ben Trong Vo Ken Vang’ (Inside the Yellow Cocoon Shell). 2023 has also been a special period when a Vietnam-made film Nha ba Nu (The House of No Man) saw record high revenue of VND475 billion. The film, hitting screens on Tet holiday, sold 5.8 million tickets. Prior to that, in March 2021, Bo Gia (Dad, I’m sorry), became a phenomenon when it attracted people back to cinemas after the Covid-19 pandemic. As many as 5.2 million tickets were sold which brought revenue of VND427 billion. The appearance of successful movies has heated up the film industry and put filmmakers in high spirits.”

“Hollywood performers in the union SAG-AFTRA have voted to ratify a new three year TV/theatrical contract with major studios and streaming companies. The deal with Netflix, Amazon, Warner Brothers, Universal, Disney and other studios was made last month after a 118-day strike.”

NETWORK POSTING

From Marvell

Marvell is looking for a top analog designer willing to relocate to Vietnam to build a team. Currently Marvell has 2 design centers with about 300 engineers in HCM city.
Marvell is aiming to increase the workforce by 50% in 3 years. Qualifications:

1. High speed AA along design , Serdes, validation
2. 15+ years of experience
3. Track record of successful product development
4. Leadership skills
5. Speaks Vietnamese and English fluently
6. Willing to relocate to VN
7. MS or PhD in EE

Please email SAVVi Code at contact@savvicode.com with the subject line: MARVELL Analog Designer, if you’re interested and/or have referrals.

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/

11_november_2023
Newsletter
[ May 3, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (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/

10_october_2023
Newsletter
[ May 3, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (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/

september_2023
Newsletter
[ May 3, 2024 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (SEPTEMBER 2023)

SAVVI HIGHLIGHTS

Founder Spotlight:  Trung Pham, Founder of RYSE

Network News:  Ascend Vietnam Ventures, Jungle Ventures, Quest Ventures, ThinkZone Ventures

Funding:  Elsa, MFast, F88

Vietnam Tech and Startup Environment:  Hi-tech manufacturing, blossoming industries, inward and outward international investment, and more

Vietnam Film and Music Industry News:Vietnamese singer success abroad, film nominations, HCMC’s first international film festival, and more

DID YOU KNOW?

Vietnam has the second largest reserve of rare earth elements on the planet By 2050, Vietnam will be the second largest semiconductor manufacturer in the world Within 20 years, Vietnam will be in the top 10 most politically stable countries

FOUNDER SPOTLIGHT

Trung Pham, Founder of RYSE

Trung Pham is the Founder & CEO of RYSE, a technology startup in the smart home space. Born in Macau, Trung immigrated to Canada, arriving in Toronto at the age of 1. Growing up, Trung had a normal childhood, and excelled in school, eventually earning him a scholarship to York University’s Schulich School of Business, and a Bachelors in Business Administration. Interestingly enough, Trung loved watching movies on law and courtroom drama (i.e. ‘A Few Good Men’ ) and wanted to study Corporate Law; but one class taught him how boring his life would be arguing over a simple comma that could change the understanding of an entire contract. So Trung pivoted and began exploring other options, including Finance; he even completed all 3 Chartered Financial Analayst (CFA) exams within 18 months, but never bothered to pay the fees to become officially a CFA holder.

He graduated during one of the worse economic times, in 2009’s Subprime Mortgage Crisis, which led to many of the Investment Banks putting on a hiring freeze. So again, Trung had to pivot, and it was during this time, that the iPhone began to grow in popularity, and mobile apps were becoming the hottest thing in tech and business. His admiration for technology entrepreneurs like Steve Jobs and Elon Musk, drove him to dive into founding his first startup, HookUpVIP. With the economy still recovering from the Subprime Mortgage Crisis, Trung spent most of his post-university days partying, and saw a need in the nightlife industry needed – specifically, many concert and nightlife venues were still using pen-and-paper managing reservations and paper ticket sales. Trung wanted to introduce an online platform that allowed venues and promoters to sell tickets online, and using a mobile app to scan tickets – something that while common today, was unheard of during this time. This was Trung’s first taste of technology and entrepreneurship, and working with small businesses – it also taught him how hard it was to scale a business that focused on a niche market like nightlife. Eventually, HookUpVIP merged with a mobile-first competitor, and Trung moved on from the industry.

As an avid reader, one of his favorite books is Onward by Howard Schultz (the CEO of Starbucks), where he learned an important perspective on business: you could own and run one coffee shop on the street corner, or be the CEO of a chain of coffeeshops like Starbucks…while the focus may differ, the amount of time and effort is the same, so why not shoot for the stars and think big? The risk/reward of being the CEO of Starbucks was far more attractive.

This is when Trung accidently stumbled on his next venture, while trying to solve a problem he experienced himself. He moved into a condo in downtown Toronto, and as a techie himself, he wanted all the latest gadgets for his new home. He wanted motorized shades, but was quoted an astronomically expensive figure of $1,500 per window, while regular manual shades were only $500 per window. However, a few months down the road, with the blistering summer sun heating up his condo, Trung went back to the same dealer he purchased his shades and asked for a motor to control the beaded chains of his window shade, that he could DIY install himself. When he learned that this “motorized pulley” didn’t exist, he had his Eureka moment, and RYSE was born! The simple fact that less than 10% of window shades are motorized was due to the high cost and non-existent retrofit solution – a problem, RYSE’s mission was to solve.

Today, when Trung’s mind isn’t on RYSE, he spends his time golfing, boxing, weight training, reading, and playing the guitar.

You are invited to a Zoom webinar.

When: Sep 30, 2023 02:30 PM Eastern Time (US and Canada) Topic: Founder Spotlight: Trung Pham, Under the Shades

Please click the link below to join the webinar:

https://us06web.zoom.us/j/81230252277?pwd=-F1FVYorV_pAzKZr8e_Z4-dtaSlkpQ.ROIvJkY9PFlQIl51

Passcode: 340791

SAVVI NETWORK NEWS

UPDATES

Ascend Vietnam Ventures
Cerebry, a Singapore-based artificial intelligence (AI) edtech startup, has announced that it has raised a $1 million seed round led by Vietnam-based venture capital firm Ascend Vietnam Ventures (AVV). With the funding, Cerebry plans to continue expanding its AI-powered practice platform to offer adaptive learning to millions of K- 12 students in Asia Pacific (APAC). The firm plans to develop their product further by expanding to new domains like science. Cerebry will also broaden its customer base, including new geographies such as Vietnam and Japan. According to the statement, lead investor AVV also bets on Cerebry’s potential to become a globally impactful edtech company. “AVV is thrilled to partner with Cerebry as the company continues to scale its AI-driven edtech platform,” said Eddie Thai, General Partner at AVV. “We believe in their mission to make quality education truly adaptive and accessible to all, and we look forward to seeing Cerebry drive positive change in the education landscape,” he added.

Jungle Ventures

The team behind HealthXCapital, which invested in and helped health tech startups scale up, has joined Singapore-based Jungle Ventures. Seemant Jauhari, who led HealthXCapital since it was founded eight years ago, is now a partner at Jungle, where he will invest in healthcare startups in Southeast Asia and India. At Jungle, Jauhari will take a similar approach as he did at HealthXCapital, combining capital with strategic partners in the healthcare sector to help startups toward validation and commercialization. These partners include providers, distributors and IT system integrators. As an example of how Jungle has worked with healthcare startups, Jauhari said one of its portfolio companies needed to expand from five to 12 cities. Securing supply from providers was crucial to meet demand, so Jungle’s board partners worked with the startup to create a time-bound group-level plan. Then, based on that plan, it used its strategic network to facilitate crucial partnerships across healthcare providers. Then an operational partner helped the startup run a unit economics optimization initiative that improved margins by almost 20% to 25%.

Quest Ventures

Emerging markets’ leading venture capital firm, Quest Ventures, has announced the appointment of April Ong Vaño as its Head of Environmental, Social & Governance (ESG). In this role, Ong Vaño will play a pivotal part in advancing the firm’s mission and sustainability initiatives across key markets. According to the firm, Ong Vaño brings a wealth of experience to this role, having served ten years in social innovation and sustainable development across government, nonprofit, and private sector projects. With a decade of experience in social innovation and sustainable development across various sectors, she aims to leverage her expertise in venture financing and local markets to spearhead strategic initiatives. Ong Vaño will be based in Cebu, The Philippines, and her mission includes driving practical outcomes in local communities, particularly in areas like microfinance for agriculture and accessible clean water and energy solutions for a decarbonized planet. Quest Ventures is among the first venture capital firms in Asia to sign the Principles of Responsible Investment, an investor initiative in collaboration with UNEP Finance Initiative and UN Global Compact. The firm’s combination of capital and technology contributes to uplifting communities in emerging economies across Southeast Asia and Central Asia, earning it accolades such as VC of the Year in 2022. James Tan, managing partner, expressed the company’s delight in having Ong Vaño lead their ESG efforts, emphasizing her wealth of experience derived from years of addressing real-life issues impacting social impact entrepreneurs and individuals at the base of the pyramid.

Thinkzone Ventures

Vietnamese early-stage venture capital company ThinkZone Ventures is seeking to raise $50 million for its third fund, which will support startups in their global expansion plans, DealStreetAsia has learned. “We are targeting $50 million for the third fund, with an expectation of four-fifths of the capital contribution to come from international limited partners (LPs) and the rest from our current LPs,” said Do Bui, founding partner and CEO of ThinkZone Ventures. The move comes a year after the company closed its second fund at $60 million, making it the largest homegrown venture capital vehicle backed by local conglomerates. Local LPs, including IPA Investments, Phu Thai Holdings, and Stavian Group, backed the fund, which plans to invest in tech startups in pre-seed to Series A stages. The venture capital company is going to operate both funds in parallel since their targets are different. Fund II will focus on domestic opportunities, while Fund III will target global startups with a Vietnamese focus in terms of team, customers and revenue from the domestic market. The latter will be open to international startups that utilize the Vietnamese workforce or build the first product in Vietnam to save costs or test the waters before expanding globally. “For this, support from our Vietnamese conglomerate LPs is not enough. We need a global approach from day one to build a global company,” he said. “We want to accelerate the development of the Vietnam startup market as a whole, and we recognize that foreign resources will not only bring support in the form of finances but also know-how and network — both of which will be essential to help local startups expand beyond Vietnam.” Despite the challenging times, ThinkZone Ventures expects to achieve the first close by the end of this year or early 2024.

FUNDING

Elsa
The premier company leveraging machine learning and speech recognition technology to teach English, has raised a $23 million Series C funding alongside its launch of ELSA AI Tutor. round was led by UOB Venture Management, joined by UniPresident, and Asia Growth Investment Fund, which is a joint business of Aozora Bank and Development Bank of Japan (DBJ). Previous investors Gradient Ventures, Google’s AI-focused venture fund; Monk’s Hill Ventures; Globant Ventures; and Vietnam Investments Group (VIG) also participated. The financing will help fuel the launch and expansion of ELSA AI into international markets like Taiwan and Korea as well as the Middle East, and accelerate partnerships with corporations and schools in countries like Japan where English learners are looking to improve their language skill to access global job opportunities.

MFast
MFast, a Vietnam-based fintech firm, has closed its US$6 million series A funding round led by Wavemaker Partners. MFast is present in all of Vietnam’s 63 cities. It has built a network of more than 160,000 agents across the country. The startup plans to use the fresh funds to expand beyond Vietnam by 2024. MFast reported a 62% increase in earning users during the first half 2023 compared to the same period in the previous year. The firm also counts local and international financial institutions as partners, including UOB, SHBFinance, TPBank, VPBank, and Kasikorn Bank

F88
Pawnshop and lending chain F88 has secured a $50 million loan from Lending Ark Asia Secured Private Debt Funds to fund its expansion.
The Hanoi-based company in November received a loan of the same size from the Hong Kong investment firm, according to a company’s press release.
F88, backed by investment fund Mekong Capital, offers quick loan services within 15 minutes. The company plans to have an initial public offering by 2024 and to list its shares by the end of 2025, said CEO Phung Anh Tuan.

VIETNAM TECH AND
STARTUP ENVIRONMENT

“However, similar to what companies like Dell and Apple have done, shifting some production to countries like Vietnam will help them reduce their dependence on China for assembly in the future. They intend to shift another portion of production to Vietnam starting in 2024.”

“Vietnam Prime Minister Pham Minh Chinh has urged U.S. chip giant Nvidia to invest in Vietnam and make the country its manufacturing hub in Southeast Asia.
Chinh made the request on Monday during a working trip to Silicon Valley as he met with Nvidia chairman Jensen Huang. The PM and Huang discussed global AI development trends and the potential for cooperation between the company and Vietnam, where the government is prioritizing the development of semiconductor manufacturing.”

“Korean and Chinese magnet firms, including an Apple supplier, are set to open factories in Vietnam, according to documents and people familiar with the plans, amid a push to diversify supply chains away from China and defend against Sino-U.S. tension. Neighbouring Vietnam has untapped rare earth deposits second only to China’s, as well as a fledgling processing industry, giving the country the potential to be a much bigger competitor, industry insiders said.”

“Social network giant Meta wants to expand its investment in Vietnam, including the manufacturing of metaverse equipment. Kaplan also said that Meta has had some partnerships in Vietnam, including one with the National Innovation Center to boost digital transformation and another with the Vietnam Government Portal to make its Facebook page the most successful government page in the region with 4.2 million followers. Meta will continue to support small and medium businesses in Vietnam to reach new customers.”

“The Ministry of SMEs and Startups (MSS) of the Republic of Korea (RoK) will launch K-Tech College, a programme that offers training programs in software and provides job placement opportunities with Korean startups to talented students from developing nations, including Vietnam.

“Tech giant FPT has plans to invest US$100 million into the U.S. market by the end of this year, suggesting that U.S. government help nurture a semiconductor ecosystem in Vietnam. The corporation expects to create more than 3,000 jobs by 2028 and generated revenues of $1 billion in the U.S. market by 2030.

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Singer Hanbin received acclaim for his performance at his K-pop boy group TEMPEST’s comeback showcase in Seoul, presenting the group’s new single. The Vietnamese artist and his six bandmates held their showcase Wednesday to present their new single “Into the Storm.” Hanbin said during the Q&A section that he wanted to hold more tours with his bandmates in the future, and wanted his home country Vietnam to be one of the stops of the tours.”

“The first-ever Ho Chi Minh City International Film Festival 2024 (HIFF 2024) will be held on April 6-13 next year with a wide range of activities, according to the municipal Department of Culture and Sports. The event will draw the participation of some 200 filmmakers, actors and actresses from around the world. Along with screening nominations, there will be an exhibition on the film industry, workshops, and refresher courses, among others.”

“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 commercialization of Vietnamese music over the past few decades has positioned it today as one of the country’s leading industries. However, despite its substantial growth, Vietnamese music remains largely unknown to international audiences, with many unaware of Vietnam’s vibrant music industry.”

“Vietnam is on track to become a dynamic content market in Southeast Asia, with a booming production sector, a boost in box office and international awards. The first six months of 2023 saw a sharp increase in the local box office, clocking up 23 million admissions, comparable to the all-time high of 48 million recorded in 2019, preCovid. The estimated total revenue for the first seven months was $92.6m (vnd2.2tn), up 58.2% year-on-year.*

“In Vietnam, film festivals not only create opportunities for filmmakers to promote and bring their works to the audience, but are also expected to be effective levers of the film industry and supporting services worth millions of dollars. Therefore, in recent years, along with efforts to make a mark on Vietnamese cinema at international film festivals, professional associations and many provinces and cities have embarked on organizing international film festivals associated with famous destinations in the country.”

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/

august_2023
Newsletter
[ August 3, 2023 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (AUGUST 2023)

SAVVI HIGHLIGHTS

Founder Spotlight:  Dai Hoang, Founder of Thien Kien

Special Promotion: Very Good Viet Goods (VG2)

Network News:  LogiGear, Southern Star Creatives Foundation, MeridianLink, InPhi

Funding:  Touchstone Partners, TNB Aura, VinFast

Vietnam Tech and Startup Environment:  V Startup Collaborations, FDI, Megaprojects, and More

Vietnam Film and Music Industry News: Singer Successes, International Cooperation in the Film Industry, Industry Growth, and More

DID YOU KNOW?

Out of all SEA countries, Vietnam creates the most jobs per dollar invested of FDI Vietnam is likely to be in the top 20 of the Global Peace Index by 2050 In 5 years, Vietnam’s economy will account for over 1% of the world’s GDP

FOUNDER SPOTLIGHT

Dai Hoang, Founder of Thien Kien

Dai Hoang began his career as a digital artist working at game companies before shifting his career to work at an event agency and eventually finding work in the film and TVC industry, which he has been doing since 2014. During this time period, he worked in the art departments of many producers for some of Vietnam’s most well known movies, including Saigon Bodyguard (TNA production), My Mister Wife (Chanh Phuong production), Tao Quay (The NewYolk production), and Maika (BHD production).

He’s also contributed to 2 short films: The Sound of Silence (directed by Luu Nguyet Đan Thanh) and Trading-card Season (directed by Huynh Anh Duy). Extending beyond the Vietnam market, he also worked on 2 international movies: Da 5 Bloods (Netflix) and Taxi Driver 2 (Netflix). For his work on TVCs, he contributed to large multinational brands such as Toyota, Honda, Dutch Lady (Disney), Bandai, Momo, Lifebuoy, PNJ, SATO, Vinamilk, Vietlott, Maggi, Massan, C2, OPPO, Clear, Lazada, Larue Beer, Tiger Beer, Dienmayxanh, Nutrifood and many more until 2022.

In 2021/2022, he shifted his life focus to pursue his long-standing desire to share Vietnamese culture, by first cooperating with Thua Thien Hue Institute for Development Studies to organize a cultural event called Vietnam Summer Fair 2022. In July of 2022, he decided to open Thien Kien company with the passionate goal of becoming a cultural agency, introducing Vietnamese culture and heritage to both locals and the rest of the world. In 2023, Thien Kien sponsored the TECx conference organized by SAVVi Code, during which it provided the highest quality organic Vietnamese foods for attendees and provided hand crafted gifts made by ethnic minorities in the north of the country to the event’s speakers.

Today, Dai hopes that he can play a significant role in boosting Vietnam’s culture to the world through Thien Kien, his magnum opus. In many ways, it is the accumulation of everything he has done up to this point and the realization of his greatest dream. With this company, in cooperation with agricultural and cultural partners all over the country as well as SAVVi, he believes that Thien Kien can become the largest cultural agency in Vietnam.

You are invited to the Zoom Interview with Dai Hoang. When: Aug 31, 2023 08:00 AM Eastern Time (US and Canada)

Topic: Founder Spotlight: Dai Hoang, From Digital Games to Cultural Agency

Please click the link below to join the webinar: https://us06web.zoom.us/j/84028693472?pwd=V28vN3lsVzd5eDNDdFFiMVBTMEtOQT09

Passcode: 380805

SPECIAL PROMOTION

Very Good Viet Goods

VERY GOOD VIET GOODS (VG2) is a unique program that introduces the highest quality Vietnamese products, from agriculture to technology, to SAVVi’s members. The participants of the program undergo a rigorous filtering process to determine the quality of their products as well as quality of their business practices.

The program is designed to provide SAVVi corporate members exclusive benefits for their employees to build up company morale and increase retention and productivity. The program exposes participants’ products to SAVVi’s international members, helping introduce their products or services to global markets.

Our first program participant is THIEN KIEN, a cultural agency specializing in Vietnamese fruit and cultural events. Thien Kien offers “seasonal fruits” naturally grown to ensure quality. Their unique blend of fruit and storytelling infuses Vietnamese culture into any event. Most importantly, any event that Thien Kien caters will highlight the distinctive characteristics of the host company and within a customized and suitable budget.

For this Tet Trung Thu (Mid-Autumn Festival), we invite your business to enjoy Thien Kien’s unique offering in bringing cultural stories and experiences, including Traditional Giftsets and a customized Vietnamese Teabreak Parties. Exclusively for SAVVi members, Thien Kien will offer the unique opportunity to “BUY GIFTSETS GET TEABREAK”. The presentation highlights Vietnam’s agricultural abundance and is environmentally conscious with banana leaves, bamboo packaging, among other natural elements.

Please contact us at contact@savvicode.com should you have any questions

SAVVI NETWORK NEWS

UPDATES

LogiGear
Representatives of LogiGear and a few other notable organizations recently noted that FPT Aptech graduates have a solid foundation of knowledge, skills, confidence and high integration ability. According to Mr. Vuong Bao Long – Vice President of LogiGear, in the next 10 years with the development of information technology, knowledge, soft skills, and foreign languages will be factors to help students succeed more readily. Therefore, the fact that FPT Aptech focuses on investing in these things in the teaching process will help students easily adapt to the job. LogiGear receives many students from FPT Aptech. Most of these students have good background knowledge and quickly adapt to the corporate environment, incentivising LogiGear to continue hiring them in large numbers. Mr. Vuong Bao Long attended the graduation ceremony of FPT Aptech in 2022 and gave a speech to the graduates; some of whom now work for LogiGear as fulltime employees.

Southern Star Creatives Foundation

Southern Star Creatives Foundation, a SAVVi-affiliate, US-based nonprofit organization, has begun fundraising for 2023. By the end of the year, the foundation hopes to raise enough money to fund 3 short films directed by Vietnamese filmmakers which will be showcased at international film festivals all over the world. Southern Star is dedicated to four core goals: Funding the work of Vietnamese creatives, preserving Vietnamese culture, spreading Vietnamese creative content around the world, and connecting the stakeholders in the creative arts. They accomplish this by accepting submissions from applicants who have an idea for a creative project they would like to make. The most promising get their projects funded, whether it be a short film, documentary, web series, music video, or any other creative media. From the inception of the idea to the production to the marketing and distribution, the foundation is there to help. All funded projects will be showcased at the TECx 2024 conference. Donors get recognition in the credits of each funded projects as well as being able to deduct contributions from their taxes. For more details on the organization, visit https://www.southernstarcreatives.org/

InPhi

Silicon Photonics Modules Market, a recently launched report by MarketsandResearch.biz that includes information regarding the market share, industry’s growth prospects, and scope, highlighted InPhi as one of the key players in the global Silicon Photonics Modules market. The report comes up with the research objectives, detailed overview, importexport status, market segmentation, and market size evaluation. The report observes numerous in-depth, influential, and inducing factors that outline the market and industry. All of the findings, data, and information included in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Silicon Photonics Modules market. The report provides a clear snapshot of the market value of the market. The research provides detailed information about the development occurring in the market. An in-depth study of modern technologies used in product development in the global Silicon Photonics Modules market has been given in this report. Important topics covered in this report are product overview, the industry overview, regional market overview, market segment analysis, limitations, market dynamics, industry news, opportunities. The market segmentation is done to provide an easy perspective of the global Silicon Photonics Modules market so that it will be easy to understand the market. The product type and application type market segmentation provides information about the various categories of products along with their application in the market. Also, this study comes up with the analysis of competition landscape, industry chain, future, and historical data by types, regions, and applications. This report forecasts demands, Trends, and revenue growth at regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2029.

MeridianLink

MeridianLink, a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced the appointment of Ed McDermott to its board of directors and to serve as the Company’s new board chair. Mr. McDermott is the managing partner of Spring Tide Partners, an investment firm that makes concentrated, longterm investments in public and private companies. Prior to founding Spring Tide Partners in 2015, he was a co-managing partner of SPO Partners & Co., an investment partnership he originally joined in 1995. Mr. McDermott holds a B.A. from Williams College and an M.B.A. from the Stanford Graduate School of Business. “We welcome the wealth of expertise and industry knowledge that Ed brings to the chair of the board role, and we value his experience partnering with innovative companies through impressive growth milestones,” said MeridianLink CEO Nicolaas Vlok. “The last several years have been monumental as we’ve accelerated our organic growth profile while successfully completing multiple acquisitions and our initial public offering. I want to thank our former board chair, Paul Zuber, for his guidance and partnership. As we look to the future, I am thrilled to have Ed’s leadership as we continue to scale and grow.” “It’s been an honor to serve as board chair of MeridianLink during the past five years of tremendous growth,” said Mr. Zuber. “The Company is well-positioned to continue its trajectory of success, and I am excited to see its future unfold.” “MeridianLink is a pioneering company that has helped shape the digital lending space for the last 25 years,” said Mr. McDermott. “I am excited to work with the management team and board as we build on this strong foundation and realize the Company’s next chapter of growth.”

FUNDING

Touchstone Partners
Vietnamese venture capital firm Touchstone Partners is seeking to raise its second fund to continue betting on Vietnam’s growing technology ecosystem. This is according to a filing with the US Securities and Exchange Commission. According to Tu Ngo, the firm’s general partner, Touchstone Partners has had preliminary discussions with a wide range of potential investors who like what they have been doing and their approach. To date, Touchstone has invested in 23 startups across early-stage fintech, health care, edtech, and blockchain.

TNB Aura
Singapore-based venture capital firm TNB Aura is in talks to raise capital for its third fund. They say they are looking to double down on their investments in Vietnam. In the next 18 months, they intend to invest into 5-7 companies in the country. In the past 3 years, they have already invested in 8 companies in Vietnam. TNB Aura has also established a Scout initiative to tap into earlystage opportunities within the country.

VinFast
Shares in Vietnamese electric vehicle maker VinFast surged on their Nasdaq debut on Tuesday amid limited trading. The debut came after the company closed its merger with a special purpose acquisition company (SPAC) in Asia’s biggest M&A deal this year. The stock opened at $22, more than double the last close for VinFast’s SPAC partner Black Spade Acquisition. The deal had valued VinFast at $23 billion. At one point on Tuesday morning, the stock traded as high as $24, which would have valued the EV start-up, which has not posted a profit, at $55 billion, more than Ford’s market capitalization at $48 billion.

VIETNAM TECH AND
STARTUP ENVIRONMENT

“Dat Bike – a renowned electric bike startup in Vietnam – announced a partnership with Baemin, an online food delivery app, to deploy electric motorcycles for delivery. Accordingly, the green delivery service with Dat Bike’s electric motorcycles on the Baemin app has been launched in Ho Chi Minh City starting today.”

“Vietnam’s Deputy Minister of Information and Communications Phan Tam and Deputy Minister of Science and ICT Park Yun-kyu of the Republic of Korea (RoK) held an online meeting on August 4 to discuss measures to promote cooperation in information technology between the two countries.”

“Sunrise Material of Singapore signed an agreement with a Vietnamese company this week to develop a polymer wrap film production project worth US$100 million in the northern province of Nam Dinh. The deal was signed Friday with the Dai Phong Infrastructure Development JSC. The project will cover 4 ha at the My Thuan Industrial Park. Its construction will be carried out in five years, starting in 2024. The factory is expected to manufacture the first products after 15 months, according to an executive of Sunrise Material.”

“The Đại Phong infrastructure construction company of Việt Nam and JiaWei Corporation from Taiwan (China) signed a project development agreement at a ceremony in the northern province of Nam Định on Monday. Accordingly, JiaWei plans to invest in Đại Phong’s Mỹ Thuận Industrial Park located in Nam Định. Covering an area of 85,764 square metres, the JiaWei Vietnam plant project is set to design and manufacture products from environmentally friendly materials. The construction of related workshops and offices will begin this September, toward an official operation by the end of 2024. The facility is expected to provide jobs for approximately 1,000 workers in its initial phase.”

“Green and Smart Mobility (GSM) has officially launched its e-motorcycle hailing service Green SM Bike in Hanoi. This sets the company in direct competition with major regional players such as Grab and Gojek. Thanh Nguyen, the CEO of GSM and deputy CEO at VinFast and Vingroup, said in a LinkedIn post that the company plans to expand to Ho Chi Minh City and other markets in Vietnam. The launch of Green SM Bike follows the rollout of GSM’s e-taxi hailing service in April this year. GSM aims to take its taxi-hailing service to 27 provinces and three countries. As for Green SM Bike, the firm looks to expand the service to five Vietnamese localities and have a total of 60,000 electric two-wheelers on the road by the end of this year.”

“According to the Vietnam Electricity Group (EVN), as of August 11, nearly 93% of the transitional renewable power projects have sent their documents to the Electricity Power Trading Company (EPTC) under EVN for pricing talks and power purchase agreements. However, there are six projects, totaling 285 MW, which have yet to provide their paperwork. Among these projects, 67 have proposed initial prices set at 50% of the price ceiling established by the Ministry of Industry and Trade. The proposed prices range from VND754 to VND908, exclusive of value-added tax. EVN has engaged in price negotiations and signed power purchase agreements with 59 projects, of which 58 tentative prices have gained approval from the Ministry of Industry and Trade.”

VIETNAM FILM AND
MUSIC INDUSTRY NEWS

“Singer Chi Pu had the sixth highest score at the end of the final episode of the Chinese reality show “Sisters Who Make Waves” on Friday. She also won two sub-categories in the show, including the “Fan Favorite” award for her “Shut Up and Dance” song, which she performed with Ella and former contestant Meng Jia in a previous season of the show, and the “Overcoming Challenges” award.”

“In Vietnam, film festivals not only create opportunities for filmmakers to promote and bring their works to the audience, but are also expected to be effective levers of the film industry and supporting services worth millions of dollars. Therefore, in recent years, along with efforts to make a mark on Vietnamese cinema at international film festivals, professional associations and many provinces and cities have embarked on organizing international film festivals associated with famous destinations in the country.”

“Actress and director Hong Anh will return to the ASEAN International Films Festival & Awards this year as a judge, six years after winning the festival’s Best Film category. Anh, 46, will be the only Vietnamese member of the festival’s board of jury. This marks another milestone in the female artist’s profile, as she set the record of winning eight out of nine nominations she received in the 2017 festival, including the Best Film award for her debut movie as a director, “Dao Cua Dan Ngu Cu” (The Way Station).”

“Promoting cooperation within Asia is one of key factors for Vietnam’s film industry to develop and gain success, according to Park Ki-Yong, chairman of the Korean Film Council (KOFIC). Park said Việt Nam should seek support from Asian countries in sharing infrastructure and human resources, and improving storytelling. He also emphasised to strengthen bilateral cooperation in the film industry between Việt Nam and South Korea. He gave the example of Nhà Bà Nữ (The House of No Man), a successful cooperation between Vietnamese filmmakers and Korean distributor CJ HK Entertainment, who successfully distributed the movie in Việt Nam and foreign markets.”

“Vietnamese American singer Ha Phuong and her friend – actor Tran Sang have launched an MV entitled “Ben Do Chieu Mua”.

“Ben Do Chieu Mua” is a song composed and written by Tran Quang Hien – Ha Phuong’s father – based on the beautiful but tearful campus love story of his brother-inlaw that took place 40 years ago when he was a college student. In the music video, Tran Sang played the poor but handsome student, who loves music and falls for a girl who works at the school’s cafeteria, played by Ha Phuong.”

“Vietnamese pop star Hoang Thuy Linh song See Tinh (See Love) is proving hugely popular and been covered by many Asian celebrities. The hit has been viewed 43 million times on YouTube and millions of other times on a variety of music platforms and social networks. The song is also trending across many Asian countries like Japan, the Republic of Korea, Malaysia and Thailand. The video featuring Jolin Tsai, the most successful singer in Taiwan, dancing along to See Love with friends in early May was shared widely on social media and forums. Japanese singer Shayne Orok covered the song on YouTube and got more than a million views.”

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/

july_2023
Newsletter
[ July 2, 2023 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (JULY2023)

SAVVI HIGHLIGHTS

Founder Spotlight:  Mike Tran, Founder of Ticketbox

Network News:  Elsa, Dat Bike, Monk’s Hill Ventures and Golden Gate Ventures, Marvell

Funding:  FoodMap, Clevai, Tepbac, Vuihoc

Vietnam Tech and Startup Environment:  Visa Exemptions, FDI, Industry Focuses, and More

DID YOU KNOW?

By 2030, Vietnam will have a literacy rate of 99%, up 3% from now In 10 years, Vietnam’s agricultural sector will only make up 7% of its economy Vietnam has the fastest growing fashion industry in Asia

FOUNDER SPOTLIGHT

Mike Tran, Founder of Ticketbox

Mike Tran is an entrepreneur from Vietnam who founded Ticketbox in 2013 and built it to become the biggest and most trusted event ticketing company in the country after 2 years. Ticketbox also expanded it’s operation to Thailand and Singapore before later getting acquired in 2019 by Tiki – one of the largest ecommerce companies in Vietnam. Besides Ticketbox, Mike Tran is also influential among the Startup community in Vietnam and is an advisor at multiple startups. He is currently leading LEK group with investments in Auftdart – Music school for the young generation, Ravolution Music Festival – the No. 1 Music Festival in Vietnam (No. 58 worldwide), and a few early stage technology startups.

Entering into an engineering career originally, Mike quickly realized his passion was not in this type of work, but in technology. However, his first attempt with the Keewi application was soon rejected by the market for a simple reason: poor applicability and product market fit.

According to Mike, his very next idea, the Ticketbox application, was born from the very simple idea of making it easier for people to buy tickets to events, avoiding having to run to the box office, waiting in line, sometimes having to buy tickets at very high prices. This application reduced black market ticket sales and helped buyers and sellers to work in a simpler and more transparent way.

According to Mike, every start-up is surrounded by many difficulties simultaneously, but if you look at it broadly, there is only one bottleneck, a single and biggest key barrier. The question is, can I find a way to untangle and overcome this difficult knot?

Recalling the first bottleneck when Ticketbox began to expand, Mike Tran said: “It’s not just about building and developing products anymore. We also have to pay attention to recruiting good people, building management processes, training, taking care of customers… But these are no longer ideas. We have always been dealing with a lot of problems at once, but I prioritized solving each knot by asking ourselves questions as a team, such as whether this is the most important problem to solve compared to current resources? If forced to choose a certain solution, my colleagues and I will carefully consider the advantages and disadvantages.”

Ticketbox has brought fans access to a variety of world-class artistic, sporting and academic events right in Vietnam. A start-up with only a few people when it was just established, now Ticketbox has expanded to serve many events throughout the country with more than 400 partners. It also has offices in Ho Chi Minh City and Hanoi and is expanding into neighboring countries such as Thailand and Malaysia.

Please join us as we interview Mike on July 27 at 3p (ICT). Zoom details are: When: Jul 27, 2023 03:00 PM Vietnam

Topic: Founder Spotlight: Mike Tran, Building a Regional Viet Tech Company Please click the link below to join the webinar:

https://us06web.zoom.us/j/86280552765?pwd=QkIyQjkwclB3OVR0QnRna2ZMVkJ6QT09

Passcode: 917422

SAVVI NETWORK NEWS

UPDATES

Elsa
ELSA Speak has developed the ELSA Dashboard classroom management system, which allows English training units to create common study groups and monitor students’ learning progress. According to an ELSA representative, with exclusive voice recognition and accurate error correction down to each syllable, the ELSA Speak application has more than 10.2 million users in Vietnam and more than 54 million users worldwide. The application can respond, point out mistakes and guide correcting immediately, thereby, helping learners self-correct and overcome the situation of not daring to speak due to fear of being wrong. However, according to the survey statistics of the group “Self-study IELTS 9.0 with ELSA Speak”, more than 90% of users of the application have stopped or used very little after about 3 – 6 months since purchasing the upgrade package. ELSA analyzes the main reason is that learners do not know where to start learning and the number of lessons is large, from daily communication pronunciation practice to IELTS and TOEIC training courses. This makes students confused and difficult to access the learning content. When there is no administrator (admin) to advise, monitor, assign, and test; Without a group of friends to study with, talk to and compete with, students who study alone easily feel depressed, emotionally impaired and find it difficult to maintain regular motivation for a long time. Because of this situation, ELSA company has developed the ELSA Dashboard classroom management system for English centers, teachers and businesses. Accordingly, from now on, this system allows users to create classes and study groups managed by the admin, creating a community learning environment to help solve difficulties in the self-study process.

Marvell

The founders of Marvell have recently launched a $2 billion chips foundry in Singapore. Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of “chiplet” technology. The two-year old startup said in a statement that the 73,000-square metre factory would create over 1,000 jobs with support from Singapore’s Economic Development board. Silicon Box was created by the founders of U.S chipmaker Marvell, Sehat Sutardja and wife Weili Dai, along with current CEO BJ Han. Silicon Box focuses on “chiplets”, or small chips, which can be the size of a grain of sand and are brought together in a process called advanced packaging, a cost-efficient way to bind small semiconductors into form one processor that can power everything from data centres to household appliances. The global chip industry has increasingly embraced the technology in recent years as chip manufacturing costs soar in the race to make transistors small enough to be measured in the number of atoms.

Dat Bike
Gojek has announced a partnership with Dat Bike in the project of bringing electric motorbikes to serve the travel, delivery, and food delivery needs of users on the Gojek application platform. Within the cooperation framework, Dat Bike provides Gojek driver partners with Dat Bike Weaver vehicles to carry out passenger (GoRide), food delivery (GoFood) and delivery (GoSend) services in Vietnam. The Dat Bike Weaver series used by Gojek driver partners in this project is among the top most powerful electric vehicles on the market. With a maximum speed of 90km/h with a range of 200km for each full charge in 3 hours, helping the car to travel a long journey before the next charge, Weaver is considered to be able to help customers. Gojek’s driver partner ensures performance, maintains income, and even saves on gas costs. In Ho Chi Minh City, Gojek driver-partners can charge their batteries for free at dozens of community charging points. In addition, Weaver is equipped with a fast charging port so that it can quickly charge the first 100km in an hour at any household outlet and in 20 minutes at a Dat Bike fast charging station. According to a share from Gojek, the use of Dat Bike Weaver electric vehicle can help driver partners lower fuel costs by more than 4 times compared to gasoline cars, thereby significantly saving operating costs, besides Contributing to environmental protection by stopping waste discharge.

Monk’s Hill Ventures and Golden Gate Ventures
 The CEOs of both Monk’s Hill and Golden Gate shared their views on the state of venture capital, tech, and startups in Vietnam. Mr. Justin Nguyen, CEO of Monk’s Hill Ventures said “It is undeniable that 2022 was a difficult year in raising capital for startups. High inflation, conflict in Ukraine and supply chain disruptions continue to cast shadows over world economies and dampen investor enthusiasm. Even so, this is also a better time to set up a company or invest in early-stage startups in Vietnam. Investors are still attracted by the market’s strong economic growth, young highly skilled population and huge service industry that has been technologically advanced. In fact, Monk’s Hill Venture has seen a 17x year-over-year growth in funding in seed rounds. Venture capital in Vietnam will continue to grow thanks to a favorable business environment and an increasingly important role for the entire Southeast Asian startup ecosystem. Vinnie Lauria, CEO of Golden Gate Ventures added “Vietnam will shine in the context of the global economy facing many challenges and will continue to rise up in the Southeast Asian startup golden triangle including Vietnam, Singapore and Indonesia. With global tech giants investing in technology manufacturing in Vietnam, the domestic market is expanding rapidly with an expected GDP of 6.2% (the highest globally) and making Vietnam Nam into a giant magnet that attracts top tech talent. This will create the next generation of dominant tech startups across Southeast Asia. Sectors such as Fintech, Insurtech, Healthtech and Proptech will continue to see strong growth. Besides, climate tech will emerge as another big bet as climate discussion becomes more pervasive and organizations face pressure on ESG (environmental) indicators. school, society, and governance) larger. In addition, Golden Gate Ventures also predicts that Vietnam will turn to product development based on AI technology.”

Marvell

The founders of Marvell have recently launched a $2 billion chips foundry in Singapore. Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of “chiplet” technology. The two-year old startup said in a statement that the 73,000-square metre factory would create over 1,000 jobs with support from Singapore’s Economic Development board. Silicon Box was created by the founders of U.S chipmaker Marvell, Sehat Sutardja and wife Weili Dai, along with current CEO BJ Han. Silicon Box focuses on “chiplets”, or small chips, which can be the size of a grain of sand and are brought together in a process called advanced packaging, a cost-efficient way to bind small semiconductors into form one processor that can power everything from data centres to household appliances. The global chip industry has increasingly embraced the technology in recent years as chip manufacturing costs soar in the race to make transistors small enough to be measured in the number of atoms

FUNDING

FoodMap
Vietnamese agritech company FoodMap has raised $1 million in a bridge round from foreign investors to expand its presence to new markets. Founder and CEO Tung Pham said that existing investors including Vulpes Investment Management, Beenext and Wavemaker Partners participated in this round. A Singapore family office also joined as a new investor. The Ho Chi Minh Citybased company has received a total of $4.5 million in funding since its establishment in 2020. FoodMap connects farmers and small and medium-size agricultural producers with consumers to provide transparency and traceability of farming products. The company offers its services via website and smartphone app.

Clevai
Vietnam’s edtech startup Clevai has raised $4 million in a new funding round to support its expansion plan. This is after raising a $2.1 million pre-series A round back in September 2021 led by Singapore’s Altara Ventures. Its investors from the previous round are FEBE Ventures, a Singapore-based fund focused on Vietnam and Southeast Asia, and U.S. investment firm FJ Labs. The money will be used to enhance Clevai’s live streaming infrastructure and personalize artificial intelligence (AI)-based learning experiences.

Tepbac
Tepbac, a Vietnam-based company, has received $2.25 million in a pre-series A funding round led by Dutch aquaculture investor Aqua-Spark which will assist the shrimp technologist digitize and scale Vietnamese shrimp farm production, AFN reports. Tepbac makes an IoT-enabled hardware and data system for shrimp farmers, and also runs an aquaculture media platform. They will use the funding to scale its suite of technologies to help farmers simplify shrimping operations, save costs and improve decision making

Vuihoc

Vietnamese startup Vuihoc has successfully raised $6 million in a new round of funding, led by investment fund TNB Aura. This is the third time this education startup has successfully raised capital. With the newly raised capital, Vuihoc plans to use it for product development and user acquisition, with the goal of reaching 1 million paying users by 2024. Previously, in 2021, venture capital fund Do Ventures announced an investment in Vuihoc. This is the first funding round of this education startup after two years of operation. By September 2022, Vuihoc had also raised an additional $2 million in bridging funding led by investment fund Bace Capital backed by fintech giant Ant Group. This funding round of Vuihoc also has the participation of a number of other investment funds such as Vulpes Ventures, DT & Investment, Colopl Next and Nextrans.

VIETNAM TECH AND
STARTUP ENVIRONMENT

“EuroCham Việt Nam has submitted a letter to Prime Minister Phạm Minh Chính, proposing the expansion of Việt Nam’s visitor visa exemption list to encompass all 27 EU member countries. With the aim of promoting trade and investment opportunities, EuroCham Việt Nam has underlined the vital importance of expanding the visitor visa exemption list to encompass all 27 EU member countries.”

“The Southeast Nghe An Economic Zone (SENA) on July 13 confirmed a $293 million investment from Runergy, a leading solar panel manufacturer. The news came through the economic zone’s online portal, announcing that the investment is earmarked for the construction of a silicon and semiconductor manufacturing plant. The significance of this investment was underscored by the prime minister’s presence at the project’s investment certificate presentation, held concurrently with a meeting with several key Chinese economic conglomerates.”

“The year 2022 has affirmed the importance of Vietnam to the U.S. semiconductor giant and vice versa, he said, adding that these performance and efficiency results underpin the need to inject more capital into the Southeast Asian country. By the end of 2021, the Intel Corporation had injected a total of $1.5 billion in Vietnam and it wants to keep investing and that is certainly what Intel will do, he said. Intel Products Vietnam (IPV) is now the largest of the four factories in terms of assembly and testing, he noted. Regarding the possibility that IPV will be upgraded to participate in more stages of the chip production process, he said that their current plan is to focus on packaging and testing.”

“Việt Nam’s digital economy is projected to grow fastest in Southeast Asia, reaching US$50 billion by 2025, a report said. It would be aided mainly by growth in ecommerce, with platforms like Shopee and Lazada and top retailers like Co.opmart moving their businesses online, said a report of the HCM City People’s Committee about e-commerce early this week. The boom in ecommerce has accelerated the country’s digital transformation of businesses in logistics, delivery, tourism, finance, media, and entertainment. Delivery services have grown rapidly thanks to super apps like Grab and Baemin. Online payment systems like e-wallets, e-transaction gates and e-banking have also developed speedily following a surge in online services, with 61 per cent of online purchases used cashless payments last year.”

“Foxconn (2354.TW) is set to invest about $250 million in two new projects in Vietnam, including for the production of components for electric vehicles (EVs), the world’s largest contract electronics assembler and local authorities said on Friday. The move confirms Foxconn’s global plans to become a player in the EV industry, after having focussed for years on assembling electronic products for Apple (AAPL.O) and other major brands. The Taiwanese giant, through its unit Foxconn Singapore, is set to invest approximately $250 million in an industrial park in northern Vietnam, “focusing on the production of electric vehicle components, controllers and other products to meet future development needs,” it said in a statement to Reuters.”

“HCM City will give priority to supporting and nurturing high-tech agricultural production start-ups of young entrepreneurs in an aim to raise the proportion of hightech agriculture in the city’s total agricultural land. According to the city’s Department of Agriculture and Rural Development, the city has more than 60,000 hectares of agricultural land, but the area under high-tech agriculture is less than one percent. By 2030, it targets to increase the proportion of high-tech agriculture in the city’s total agricultural land by up to 10 percent.”

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/

june_2023
Newsletter
[ June 2, 2023 by Nguyen Phan 0 Comments ]

SAVVI NEWSLETTER (JUNE 2023)

SAVVI HIGHLIGHTS

TECx 2023 Conference: All about the speakers, sessions, and convergence of creative arts and technology

Network News: Timo Digital Bank, ThinkZone Ventures, VinaCapital, Sky Mavis

Funding:  EQuest, Poko, Stag, Entobel

Vietnam Tech and Startup Environment:  Foreign Direct Investment, Trade Deals, Key Industry Growth, and More

DID YOU KNOW?

Vietnam has the lowest poverty rate of all Southeast Asian countries Vietnam has the most trade agreements of all Southeast Asian countries By 2050, 59% of electricity in Vietnam will be generated by renewables

TECX 2023 CONFERENCE

VIP Reception

Before the first official day of TECx 2023, speakers and other VIPs were invited to attend the VIP Reception, where they gathered to celebrate the remarkable synergies between technology, film and music, with the presence of diverse speakers from both the US and Vietnam. Together, they experienced how culture, education, technology and the creative arts come together, balancing tradition versus modernity. This took the form of a fireside chat with director Leon Le, Actress Hai Yen, and interviewer Mai Huong Hoang where they discussed the unique position Vietnam currently sits in to benefit from the creative arts and technology coalescing. In addition, several high-tech and culture-centric companies showcased how they are helping to bring about this convergence, including a metaverse company looking to create a digital twin of the entire world called Seensio, an AR company looking to blend the real world with the digital called Geofi, a human augmentation company looking to revolutionize prosthetics called Vulcan Augmetics, the software outsourcing company IMT Solutions, and Vietnamese traditional organic food company ThienKien.

 

Day One

The first day of the event opened with a keynote speech by Graham Harlow, Deputy Consul General U.S. Consulate General Ho Chi Minh City as he highlighted the commitment of the United States to both the creative and tech industries of Vietnam. Afterwards, there was a tech plenary featuring representatives from McKinsey, Fulbright University, and US-ASEAN, constructed to answer the question: Is Vietnam ready for sustained private equity investments across sectors or are opportunities sector specific? Immediately following this was another plenary about the immense growth of the Vietnamese music industry and the advantages and challenges it faces, featuring Esther Nguyen from POPS Worldwide and Chau Le from Bamboo Artists Agency. After this, there were 4 other tech sessions about the overall market, private equity, health tech and med tech, and climate tech. These sessions featured the likes of Monk’s Hill Ventures, FPT, Tau Investments, Vietnam Investments Group, Mekong Capital, Phoenix Holdings, Google, APAC Med, Verge VC, Quadria Capital, New Energy Nexus Vietnam, Earth Venture Capital, BUYO, and Quest Ventures. There was also one more music session about the history of Vietnamese music featuring Duong Thu, Huy Tuan, and Nguyen Hai Phong along with 3 film sessions. The first which was about tech in the Vietnamese film industry, featured Brad Nguyen, K’Linh Nguyen, and Phil Tran. The second, about using directing techniques to turn Vietnamese films into the country’s golden goose, featured Charlie Nguyen, Vo Thanh Hoa, and Ly Minh Thang. The final was a short film screening by up and coming directors Trinh Quang Minh, Vũ Nguyễn Nam Khuê, Đoàn Tuấn Đức, and Đặng Thảo Nguyên.

 

Day Two

The second day kicked off with the film plenary about the business of film in Vietnam, with top-level industry experts Lucas Luan Nguyen, Tran Thi Bich Ngoc, Phan Xine, Luong Cong Hieu, and Le Hong Lam all discussing the struggles facing the industry and how to overcome them, as well as answering the question: If you had $10 million to invest for guaranteeing the international explosion of the Vietnamese film industry, how would you allocate it? Following this were 6 tech sessions, 4 more film sessions, and 2 music sessions. The tech sessions included topics such as how Private Equity (PE) firms structure their investments in Vietnam, Vietnam’s active VC landscape, games and esports in Vietnam, web3 adoption, fintech, and biotech, with uniquely qualified speakers from HSC, KMPG, Do Ventures, Ascend Ventures, VinaCapital, ThinkZone, Cerberus Esports, Box MCN, Poko App, Wolffun Game, Kyber Network, Timo Digital Bank, IU-VNU, Van Hanh Hospital, and MGI. The film sessions included topics such as Vietnamese animation and VFX, small and large film success, and screenwriting. These sessions featured speakers from Sky Mavis, Sunwolf Animation, Colory, AIOI, CGV, ProductionQ, and individuals Binh Bong Bot, Nhi Bui, Tran Khanh Hoang, Michael Thai, and Matt Dearborn. The two music sessions were about music production, featuring RYO Band, Nguyen Hai Phong, and Denis Dang

SAVVI NETWORK NEWS

UPDATES

Timo Digital Bank
The inspirational project “Timo x Truong Twins” received the PR Awards 2023 in the category “Best communication project in the finance – banking industry” in the Asia-Pacific region. Timo is one of the first and pioneering digital banks in Vietnam, always pursuing a different strategy to maintain its position. The business aims to develop into an ecosystem that touches all aspects of customers’ daily lives, including the financial and non-financial sectors. Commitment to a dynamic, brave and enthusiastic young Vietnamese generation is the similarity that marks the birth of the inspirational project “Timo x Truong Twins”. The project has achieved many memorable and pioneering achievements in the communication industry in the financial – banking sector. An inspirational bank card template as a certificate of Gen Z’s commitment to living life to the fullest and passion. Timo also pioneered to set foot in 18 provinces from North to South, connecting with nearly 50 universities. Digital bank attracts hundreds of thousands of students nationwide to choose “Timo x Truong Twins”, determined to live to the fullest and join hands to build a brave young Vietnamese generation reaching out to the ocean. “This award marks an important milestone for Timo, affirming the strategy and culture that the brand has always pursued – breaking through, pioneering, doing things no one else has done, walking the roads no one else has taken to become should be different and lead,” said Mr. Eichhorst, CEO of Timo.

ThinkZone Ventures
FPT Smart Cloud and domestic investment fund ThinkZone Ventures signed a strategic cooperation agreement to help Vietnamese startups access technology, professional resources and raise capital. The synergy between FPT Smart Cloud and ThinkZone Ventures will bring technology advantages to startups invested by this Fund. The strong infrastructure platform from FPT will allow Vietnamese businesses to break down barriers to the world, quickly access modern technologies and focus on creating new values. According to a report by the global startup community support organization Start-up Genome, startups with international relationships and business ideas abroad will grow in revenue higher than businesses. domestic vision only. Besides the lack of capital, startups also have difficulty in “groping” step by step to carry out important stages such as research and development (R&D) or market expansion. FPT Smart Cloud and ThinkZone act as a bridge between Vietnamese startups and the international market, creating an environment for startups to experiment with new technologies, forming a company development mindset on a global scale. FPT Smart Cloud will support one to one startups invested by ThinkZone Ventures. Leading experts and advisors from FPT and FPT’s partners around the world will accompany the startup through intensive training programs, periodic workshops, consulting on building their own roadmap as well as support. throughout the implementation

VinaCapital
On June 19, 2023, Vina Securities Joint Stock Company (VNSC) signed an agency contract to distribute fund certificates with VinaCapital Fund Management Joint Stock Company (VinaCapital). VinaCapital Fund Management Joint Stock Company was established in 2012 and licensed by the State Securities Commission to establish and manage investment funds, manage investment portfolios… After many years of operation, VinaCapital’s reputation and brand has been affirmed in both domestic and foreign markets. Owning an attractive portfolio, VinaCapital’s investment funds focus on different groups of stocks, with a diverse risk appetite from low to high, suitable for many groups of investors. With VNSC becoming the official distributor of VinaCapital fund certificates on the VNSC by Finhay platform, customers/investors will have more product choices and investment options. In the coming time, the list of fund certificates will continue to be added on the VNSC by Finhay platform. Mr. Brook Taylor – General Director of VinaCapital Fund Management Joint Stock Company, shared: “ This cooperation is in line with the trend taking place in developed markets, when fund management companies combine with other businesses . dynamic financial technology industry to optimize the strengths of both sides. Through our partnership with VNSC by Finhay, we aim to bring investors the best experience along with Vietnam’s leading open-end fund products managed by VinaCapital.”

Sky Mavis
Sky Mavis reached a market capitalization of over 3 billion USD after a successful funding round of 152 million USD in October 2021, also when Axie Infinity reached a record number of nearly two million users. At its peak, up to 3 million users worldwide and is considered the most successful Web 3.0 game of all time. But if you just look at these numbers, few know that the company had a bad start. “In early 2018, most of Axie’s assets at the time were in decline, and it seemed that not only could we not change the world as we had dreamed of, but could even go bankrupt,” said Aleksander Leonard. Larsen – Chief Operating Officer (COO) Sky Mavis shared. The pre-sale of the Axie creatures as well as the Land Plot sale then became a “lifesaver” for the fledgling startup. By early 2019, the company’s financial position gradually improved after a seed round brought in $1.5 million, led by Animoca Brands investment fund. Recently, the company also established a number of its own funds to support more potential projects, as well as build a new office with lots of open space to help employees unleash their creativity. Alek shared. “For employees, we make them feel excited about going to work every day. I want to build a sustainable company that way.” After 5 years, all the founding members still persisted together to build the team that grew from a few dozen people to more than 200 people.

FUNDING

EQuest
Global equity firm KKR has invested close to $100 million in EQuest, a company that seeks to provide students in Vietnam with access to world-class education. The deal is likely to have paved the way for a partial exit for Singapore-based TAEL Partners, which invested in EQuest in 2018. EQuest operates a diversified portfolio across the educational sector in Vietnam, focusing on four core segments including K-12 bilingual schools, tertiary and vocational institutions, English enrichment courses, and digital learning solutions. More than 110,000 students enroll in its segments each year.

Poko
Poko, a Web3 payments startup based in Singapore and Vietnam, was born after social commerce firm Shoppa had to pivot its business model in March 2022. Poko aims to address these issues by enabling seamless transfers of assets from local payment rails to Web3 infrastructure. Its B2B2C model means that most of its main users are Web3 wallets, marketplaces, and decentralized apps and games, according to See. The startup has just raised a US$4.5 million seed round from investors such as Y Combinator, Goodwater Capital, and Global Founders Capital to fuel its growth

Stag

Vietnamese financial education startup Stag has raised $600,000 in its seed round from local investment house Viet Capital Ventures, NH Securities Vietnam – an affiliate of South Korea’s Nonghyup Financial Group, and Singapore-based Resolution Ventures. Stag provides a technology platform for users to learn personal financial management, look up information, market data, and analyze for reference purposes easily and conveniently

Entobel
Singapore-based Entobel, an insect farming company specializing in black soldier fly larvae (BSFL) production for pet food and aquafeed, has secured funding from the International Finance Corp (IFC) to expand its operations in Vietnam. Entobel made the strategic decision to operate in Vietnam, as it is climatically suitable for BSFL, with relatively lower energy costs compared to European markets. The company set up its first plant in Vietnam in 2019 after six years of R&D activities, with a capacity of 1,000 metric tons annually for its H-Meal. Now the company is in the process of completing its second facility in Vietnam’s Vung Tau province, with an expected capacity of producing 10,000 metric tons of H-Meal annually. The plant is expected to be the largest of its kind in Asia, with funding for its construction raised from Entobel’s Series B financing of US$30 million: US$25 million from Mekong Capital and the remaining US$5 million from Dragon Capital

VIETNAM TECH AND
STARTUP ENVIRONMENT

“A number of global semiconductor manufacturers are increasing their presence in Việt Nam, making the Southeast Asian country a rising star in the world semiconductor market. South Korea’s Hanmi Semiconductor, one of the world-class leading manufacturers of semiconductor equipment, announced at the end of May that its branch, based in the northern province of Bắc Ninh, was officially put into operation.”

Japanese giant eyes $200M printed circuit board plant in Vietnam

“Japanese electronics firm Meiko plans to build a factory in northern Hoa Binh Province at a cost of VND4.66 trillion (US$200 million) to produce printed circuit boards. It plans to lease a 9.2-hectare plot of land in this northern province for its fourth plant in Vietnam. Local leaders have voiced support for the project. Meiko first invested in Vietnam in 2006, building a factory in the suburban district of Thach That in Hanoi.”

“Vietnamese B2C e-commerce exports grew 7% last year to $3.5 billion. This figure is expected to increase almost fourfold to $13 billion by 2027, according to Access Partnership, a consulting firm based in the United Kingdom. By 2022, this figure accounted for about 1% of Vietnam’s total exports, according to the report, which relies on data from Vietnam’s customs authorities and reputable organizations such as the Asian Development Bank, the Organization for Economic Cooperation and Development, and the World Bank.”

“Two Chinese makers of energy storage systems and batteries are weighing investments worth hundreds of millions of dollars in Vietnam, industry and government sources said. The combined value of the investments could exceed $1 billion, according to one person with direct knowledge of the discussions.”

“Hyosung, South Korea’s leading power transformer producer, is expanding long-term operations in Vietnam because it sees 100 years of successful sustainable development in the future here, the company’s chairman said. Joo said his corporation wants to promote the development of large high-tech projects while expanding into the field of information technology.”

“By 2028, Vietnam’s economy is anticipated to have reached approximately $2.21 trillion, placing it among the top 20 economies globally. This impressive growth trajectory highlights Vietnam’s increasing significance on the global stage. As the country continues to implement economic reforms, attract foreign investments, and foster innovation, it is solidifying its position as a rising power in Southeast Asia.”

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/