According to Topica Founder Institute (TFI), a startup accelerator programme in Vietnam and Thailand, the year 2018 saw an explosion in startup investment. Total deal value surpassed $889 million, tripling from the $291 million of 2017. Of these, the 10 biggest deals were upwards of $40 million in value. These agreements included Yeah1, which received $100 million from a group of investors, Topica, which received $50 million from Northstar Group, and Sendo, which gained $51 million, and seven undisclosed deals valued at about $533 million. The sectors of fintech, e-commerce, traveltech, logistics, and edtech have attracted investors’ eyes. Of these, fintech sat in the first place in both deal value and deal count, with eight deals for $117 million. E-commerce came in second, with significantly fewer deals (only five, against 21 in 2017) worth approximately $104 million. They are followed by traveltech ($64 million), and logistics and edtech (three or four deals valued at over $50 million) for each sector. Among around 388 startups receiving funding over recent years, VNG Corporation becomes Vietnam’s first-ever tech unicorn, whose existing value has mounted to $1.2-1.5 billion now, while Yeah1 has just debuted on the Ho Chi Minh City Stock Exchange with a… Read full this story
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