Compare Listings

Alibaba-backed fund invests in retail chain Homefarm

Alibaba-backed fund invests in retail chain Homefarm

An Alibaba-backed fund has invested an undisclosed amount in Vietnamese retail chain Homefarm. – VnExpress International

Alibaba-backed fund invests in retail chain Homefarm

People shop in a Homefarm store in Hanoi. Photo courtesy of Homefarm

The investment by eWTP Technology and Innovation Fund is a “seven-digit figure,” the company’s CEO Tran Van Truong told DealStreetAsia.

Homefarm, which has around 150 stores that sell meat, fish and groceries imported from several countries including the U.S., Australia and South Korea, plans to have 1,000 by 2025, he said.

The funding was through ReDefine Capital Fund, a Singapore-registered investment entity controlled by eWTP.

The $600-million eWTP Technology and Innovation Fund was set up in 2018 with Chinese billionaire Jack Ma’s Alibaba and Ant Group as cornerstone investors.

It reportedly invested recently in Vietnamese retail company Ficus Asia Investment and ed-tech firm Educa Corporation.

e.vnexpress.net
img

admin

Related posts

Vietnam aviation authority suggests resuming domestic flights

The CAAV will impose flight bans on passengers using forged documents for their services

Continue reading
by admin

Ho Chi Minh City tests 3,600 residents for COVID-19 antibodies

The test results are expected to help assess the current state of COVID-19 infection

Continue reading
by admin

VN-Index bounces back after two falling sessions

Vietnam’s benchmark VN-Index rose 0.46 percent Wednesday with the majority of blue chips in the green, led by MSN of conglomerate Masan Group. - VnExpress International

Continue reading
by admin

Join The Discussion