Vietnamese start-up receives $1million fund from Singapore investor

Monday, May 08, 2017 16:45

Representatives of VNI Group and World Gold shake hands at a signing ceremony of the two sides’ comprehensive cooperation agreement. — Photo VNI Group

Viet Nam International Group (VNI Group) has received a US$1 million fund from a Singapore-based investment fund World Gold Investments PTE. LTD (World Gold).

World Gold said it would co-operate with VNI to jointly develop its business activities, particularly in consumer business projects, clean foods and restaurants.

World Gold also committed to investing more capital in each development stage of VNI business projects in the coming years in Viet Nam and other countries. World Gold’s total investment into VNI is expected to reach $15 million in the period between 2017 and 2019 if VNI’s projects are operating effectively.

“We’ve studied the Vietnamese market and found optimistic investment opportunities in Vietnamese businesses with strong business and long-term vision. The cooperation between World Gold and VNI has been established for exploiting the existing potentials and promoting the advantages of each party, and promote sustainable growth of VNI in the future,” Teo Young Soon, Director of Investment Department said during a signing ceremony of the two sides’ comprehensive cooperation agreement held on May 6 in Ha Noi.

Soon said World Gold would give special attention to VNI’s projects such as Gonfarm clean food store chain and Gontasty restaurant chain.

"The investment capital funded from World Gold will help VNI to expand its business operations scale. In addition, VNI expects the Singapore partner will assist the group in completing their domestic business model and that the two side will cooperate in an international development strategy," said Nguyen Trung Kien, General Director of VNI.

"VNI is focussing on developing a chain of stores providing organic products and safe food, and a chain of restaurants introducing customers to new culinary experiences, with the best quality and professional customer services," said Kien.

VNI is a start-up established in 2016. VNI is currently operating subsidiaries in trading company, law firm, training company, media company and technology company. — VNS

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