Hoa Nang gets investment from Beacon Fund

Saturday, Jan 22, 2022 11:03

Representatives of Hoa Nang Organic and Beacon Fund at the investment signing ceremony. — Photo Courtesy Hoa Nang Organic

Hoa Nang Organic, a sustainable organic agriculture company, said it has received investment from the Beacon Fund, which focuses on supporting women-led and -owned businesses in Southeast Asia.

Hoa Nang said with the money the company would have additional resources to focus on its goal of expanding into the Mekong Delta, develop more organic product lines with higher value and serve more customers.

Dang Thi Truong An, CEO of Hoa Nang said: "The Beacon Fund is the first institutional foreign investor to invest in Hoa Nang. This recognition from an independent institutional investor is a testament to Hoa Nang Organic’s track record and their faith in our future direction.

“This is an important milestone in our continuous efforts to bring more value to the community and positively impact society," An said.

“We are excited to make an investment in Hoa Nang Organic. They have demonstrated a deep level of knowledge and passion for organic farming in Viet Nam and are making a difference to the lives of ordinary farmers. In addition to supporting Hoa Nang Organic’s capital needs, we are equally excited about working with them via providing technical support to help improve their management capacity and bring about their next phase of growth,” Shuyin Tang, CEO of the Beacon Fund, said.

Hoa Nang became widely known after appearing on Shark Tank in 2018 and receiving a seed investment of US$500k from Louis Nguyen, a prominent investor in Viet Nam and chairman & CEO of Saigon Asset Management (SAM). — VNS

Samsung earned $65.5 billion from exports last year, up 15.8 per cent from the previous year, he said, attributing the results to the Vietnamese Government’s support policies.

Regarding the research and development centre, he said it is expected it to be put into operation this year.

Both sides noted their belief that the co-operation will grow further in 2022 and the years to come. — VNS

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