Acquisitions in Ho Chi Minh City, Vietnam

AppHub Raises $95M from PSG and Acquires AI Search App Boost

July 25, 2023

Buyer: PSG, AppHub, Silversmith Capital Partners
Target: Boost
Industry: Software
Location: Ho Chi Minh City, Vietnam
Type: Addon

AppHub received a $95 million strategic growth investment from PSG alongside existing investor Silversmith Capital Partners, and concurrently acquired Boost, an AI-powered search and discovery application for e-commerce merchants. The investment will support AppHub's product expansion, geographic growth, and continued M&A strategy while Boost's AI search and recommendations will enhance AppHub's suite of merchant-facing software.

Warburg Pincus Leads US$250M Growth Investment into Novaland

June 1, 2022

Buyer: Warburg Pincus
Target: Novaland
Industry: Real Estate
Location: Ho Chi Minh City, Vietnam
Type: Growth capital

A Warburg Pincus-led consortium has completed a US$250 million investment in Novaland (HOSE: NVL), one of Vietnam's leading real estate developers. The funding will be used to expand Novaland's strategic land bank and accelerate development of ongoing residential, hospitality and industrial projects across Vietnam.

Alibaba and Baring Private Equity Asia Lead $400M Investment in Masan's The CrownX

May 18, 2021

Buyer: Alibaba Group, Baring Private Equity Asia
Target: The CrownX
Seller: Masan Group Corporation
Industry: Retail
Location: Ho Chi Minh City, Vietnam
Type: Growth capital

A consortium led by Alibaba Group and Baring Private Equity Asia agreed to acquire a 5.5% stake in The CrownX for USD 400 million, implying a pre-money valuation of about USD 6.9 billion. The investment includes a strategic cooperation agreement with Lazada to accelerate The CrownX's offline-to-online (O2O) capabilities and expand its digital grocery ecosystem across Vietnam.