A Masan’s subsidiary raised $350 million
The CrownX successfully raised $350 million in capital. This investment comes from TPG, Platinum Orchid and SeaTown Master Fund. As a result, The CrownX is valued at $8.2 billion for 100% equity. Thus, the price per share is $105. From 2020 to now, this ecosystem has attracted more than $1.5 billion in investment capital. The company will promote growth, buying back shares, to increase its ownership.
A Japanese bank is to acquire 7.5% shares of MoMo
Mizuho Bank will spend ¥20 billion ($170 million) to buy 7.5% stake in M-Service. This is the owner of the Momo e-wallet. The transaction will be completed by the end of this year. The Japanese bank will move deeper into the dynamic growth region of Asia. In early 2021, MoMo Wallet also completed a Series D funding round. Warburg Pincus, Affirma Capital, Tybourne Capital Management participated in this round.
A Vietnamese e-commerce startup raised $2.2 million
UrBox is a B2B e-commerce startup. This startup completed a Pre-Series A funding round with $2.2 million. This round was led by Touchstone Partners. This round also has the participation of Pavilion Capital and VinaCapital Ventures. UrBox was launched in 2017. This platform connects gift and loyalty programs with suppliers. UrBox will focus on optimising the platform, building a comprehensive ecosystem, and increasing the user experience.
Con Cung is about to be invested $100 million from a foreign fund
The Con Cung store chain is about to receive an investment of $100 million. Quadria Capital will be the unit that will invest in Con Cung. This fund focuses on the healthcare sector across Southeast and South Asia. This fund was established in 2012, currently manages $1.6 billion in assets. Quadria Capital is an independent private fund. This fund specialises in investing growth capital in small and mid-cap companies.
CEO of Axie Infinity is among Top 10 crypto influencers
According to the list published by CoinDesk, Co-Founder of Axie Infinity Nguyen Thanh Trung is among the 10 most influential people in crypto in 2021. Axie Infinity has spurred a new wave of startups in Vietnam. Many game studios and a number of projects such as Cyball, Sipher, Thetan Arena were born from there. This Top 10 also includes Elon Musk, Sam Bankman Fried, Gary Gensler, etc.
Sources of information include DealstreetAsia and TechInAsia.