Japanese investor buys in to Luxstay

Tuesday, Apr 10, 2018 18:50

Luxstay is a platform connecting individuals and businesses with apartments, homes and villas for rent. — Photo luxstay.net

Japanese investment fund CyberAgent Ventures (CAV) has just announced the venture in to Luxstay.

Luxstay is a homestay platform headquartered in Singapore that operates mainly in Southeast Asia, including in the Vietnamese market.

The details of the deal were not disclosed, but CAV representatives said the investment was seven digits.

The Tri thuc tre online newspaper quoted Luxstay Vietnamese co-founder and CEO Steven Nguyen as saying that Luxstay set a target for the series A round this year, hoping to receive about US$10-20 million in investment.

Previously, Luxstay announced investments from three investment funds including Genesis Ventures (Japan), Y1 Ventures and Founders Capital (Singapore).

Luxstay also received investment from ESP Capital, a local investment fund established by Vietnamese start-ups, which was also active in recent deals with Homedy, Canvas, Wefit, Jamja and Cooky.

CAV is one of the most active venture capital funds in the US, as well as in eight Asian countries, including Viet Nam.

CAV has invested in more than 20 projects in the field of internet and technology in Viet Nam.

Most of CAV’s investment projects have achieved positive growth; of these, many have become big names in the market including Foody, Vatgia, and Tiki, and also Topica, Nhaccuatui, VNG, Vexere and Vicare . — VNS

Comments (0)