Vietnam’s Every Half specialty coffee chain attracts foreign investment

Every Half Coffee Roasters, a specialty coffee brand, has received initial funding in a round led by regional investor Openspace, with additional participation by DSG Consumer Partners.

The deal’s value has not been disclosed.

Starting out as an expert coffee roaster in 2021, Every Half went on to open its own cafes soon after as the popularity of its beans soared.

The brand has since built on its early success with eight uniquely designed outlets in Ho Chi Minh City, each carrying its own vibe that reflects the distinct location or local building it occupies. Each outlet offers curated specialty beans from Vietnamese and foreign farms.

Every Half’s core crew comprises co-founders Tran Le Minh Truc and Vo Duy Phu. Truc oversees the coffee supply chain, roasting operations and training. Phu focuses on developing retail chains and other large-scale operations.

The co-founders say that despite global demand for specialty coffee reaching very high levels in recent years, very few people have tried high-quality specialty coffee from Vietnam.

With the total market projected to reach $52 billion by 2030, now is an opportune moment for local farmers and brands like Every Half to grow and enhance the value of Vietnamese coffee beans, they add.

Every Half has expressed its commitment to sustainable production by working closely with farmers to cultivate and develop climate-resilient coffee varieties like Starmaya, Marsellesa and Centroamericano in the northern province of Dien Bien; Liberica in Pleiku town (Gia Lai province) and Dak Lak province in the Central Highlands, as well as fine robusta.

Dennis Le, vice president at Openspace Ventures, said that in a world where climate change was causing a shortage of Arabica beans, the opportunity for Every Half to add Vietnamese robusta and other sustainable coffee varieties to the global supply is both immense and timely.

Vo Duy Phu, co-founder and CEO of Every Half Coffee said, “We are delighted to have the support of these investors, who both bring vast experience in building coffee and consumer brands. With their partnership, we have the resources to increase our collaboration with linked farmers, expand our retail chain, and enhance the quality of coffee for our customers."

Openspace is a leading tech-focused venture capital firm with offices across Southeast Asia. The fund manages over $800 million from global institutional investors and has significant experience in the regional consumer and coffee sectors. Its portfolio includes GoTo, Love Bonito, Pickup Coffee, and Jiwa Group. In Vietnam, Openspace has invested in Finhay and the Nano Vui App.

DSG Consumer Partners is a consumer-focused venture capital fund based in Singapore, managing over $300 million with a portfolio of over 80 companies across Southeast Asia and India. Notable investments include Saturdays, SaladStop, and Pickup Coffee. In Vietnam, DSG Consumer Partners has invested in Coolmate and Marathon Education.