Japan billionaire Taizo Son invests in Vietnam venture capital platform
Japanese venture capital firm Mistletoe has invested in Hectagon, a leading venture capital funding platform based in Vietnam.
Mistletoe is a hub for startups in the blockchain and crypto industry founded in 2013 by Japanese billionaire Taizo Son, the youngest brother of SoftBank magnate Masayoshi Son. Taizo is also Mistletoe's CEO.
Taizo Son at an Asia startup event in Japan. Photo courtesy of TechinAsia.
Both the firms did not disclose Mistletoe's investment amount.
The CEO and founder at Hectagon is Linh Han, honored on the Forbes Asia 30 Under 30 List 2020. He is also co-founder of Vietnam Silicon Valley Capital, better known as VSV, started in 2014 as an accelerator and early-stage venture capital company.
Over the last eight years, VSV has made over 80 investment deals from pre-seed to series B into startups with a total valuation of over $300 million. They include Loship, Base.vn, Modmo, Vulcan, Nerman, Loop POS, Ship60, and Hachi.
Mistletoe's CEO Taizo Son has also become an advisor to Hectagon, along with Samresh Kumar, CEO of VinaCapital renewable energy unit SkyX Solar, and Han Ngoc Vu, CEO of VIB, a leading private bank in Vietnam.
Hectagon's combination of decentralized finance and venture capital is outstanding, Son said, adding the firm’s leadership and teams in concert with Mistletoe would deliver a new concept of venture capital.
Son's investment in Hectagon is part of his plans to invest $100 million in technology startups across Southeast Asia.
- Related News
- Read More
Vietnam appreciates Apple investment, creation of 200,000 jobs: PM
Vietnam appreciates tech giant Apple’s investments that have generated 200,000 jobs and will set up a working group to further support its activities, Prime Minister Pham Minh Chinh said Tuesday.
Companies - Tue, April 16, 2024 | 4:12 pm GMT+7
Vietnam PM requests stable power supply during peak period
Vietnamese Prime Minister Pham Minh Chinh on Monday ordered drastic, synchronous and effective measures to ensure stable power supply during the peak period this year and beyond.
Economy - Tue, April 16, 2024 | 1:12 pm GMT+7
Misinformation a bane for Vietnam stock market investors: broker
Stock market investors in Vietnam closely follow official media and any misinformation it carries can badly hurt the market, says Nguyen Duy Hung, chairman of SSI Securities.
Society - Tue, April 16, 2024 | 11:50 am GMT+7
Arrested businessman’s fingerprints cover Thuan An Group
Hanoi-based Thuan An Group JSC has grown rapidly thanks to winning construction contracts for projects across the country that bear the mark of 50-year-old businessman Nguyen Duy Hung.
Companies - Tue, April 16, 2024 | 11:24 am GMT+7
US First Solar plans to invest $943 mln to increase output of Vietnam plant
First Solar, an American manufacturer of solar panels, plans to invest VND23.9 trillion ($942.5 million) to increase the capacity of its factory in Ho Chi Minh City.
Energy - Tue, April 16, 2024 | 10:46 am GMT+7
US dollar hits new high versus Vietnam dong
The U.S. dollar has continued to strengthen against the Vietnamese dong, reaching a new high at commercial banks and causing another headache for the country’s central bank, which has been ordered to stem gold fever.
Banking - Tue, April 16, 2024 | 10:40 am GMT+7
Private lender OCB targets 66% rise in 2024 pre-tax profit
Vietnam’s Orient Commercial Bank (OCB) is targeting a pre-tax profit of nearly VND6.9 trillion ($274 million) this year, an increase of 66% from 2023.
Banking - Tue, April 16, 2024 | 9:23 am GMT+7
Vietnamese billionaires lose $479 mln on stock market plunge
The five wealthiest billionaires in Vietnam lost a total of VND12 trillion ($479.3 million) on Monday when the VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), plummeted 60 points, the sharpest fall in nearly 2 years.
Finance - Tue, April 16, 2024 | 8:10 am GMT+7
Malaysia sets up clean energy exchange
The Malaysian government has agreed to establish the Energy Exchange Malaysia (Enegem) to facilitate cross-border sales of green electricity to neighboring countries.
Southeast Asia - Mon, April 15, 2024 | 11:11 pm GMT+7
Malaysia pursues holistic strategy to lure Chinese tourists
Malaysia is adopting a holistic approach to boost Chinese tourist arrivals, moving beyond traditional promotional methods to create an ecosystem that enhances visitors' experience.
Southeast Asia - Mon, April 15, 2024 | 11:11 pm GMT+7
Thuan An Group chairman arrested for bidding violations
Nguyen Duy Hung, chairman of Hanoi-headquartered Thuan An Group Joint Stock Company, was detained on Monday for “violating bidding regulations causing serious consequences” and “bribing”.
Society - Mon, April 15, 2024 | 9:18 pm GMT+7
Vietnam steel magnate says excessive imports threaten domestic production
Rising steel imports are threatening domestic production, said Tran Dinh Long, chairman of Vietnamese steel producer Hoa Phat Group.
Companies - Mon, April 15, 2024 | 8:37 pm GMT+7
Apple announces Vietnam expansion, CEO Cook in town
Tech giant Apple announced plans to increase investments in manufacturing hub Vietnam as CEO Tim Cook began a two-day visit to the country on Monday.
Industries - Mon, April 15, 2024 | 6:26 pm GMT+7
Thailand looks towards cashless society
Financial transactions via PromptPay - Thailand’s national electronic payment platform – reached a new high last year while cash transactions posted a notable decline.
Southeast Asia - Mon, April 15, 2024 | 5:30 pm GMT+7
Pizza 4P’s makes $4.6 mln after-tax profit in 2023, up 38%
Pizza 4P's, a popular Vietnam-based pizza chain, earned post-tax profits of VND115.3 billion ($4.58 million) in 2023, up 38% year-on-year.
Companies - Mon, April 15, 2024 | 5:14 pm GMT+7
Warburg Pincus to invest in Xuyen A hospital chain in Vietnam
Warburg Pincus, one of the leading U.S. investment funds, will invest in Xuyen A, a major private hospital chain in Vietnam.
Companies - Mon, April 15, 2024 | 5:09 pm GMT+7
