202213 Jan

VN Digest: F88 secures $10m loan; Beacon Fund invests in Hoa Nang Organic

Summary

The impact investment space in Vietnam is bustling with action, with financial services firm F88 raising a $10 million loan from impact debt investor Lendable, and gender-lens investment fund Beacon Fund backing rice producer Hoa Nang Organic. Founded by CEO Dang Thi Truong An, Hoa Nang Organic has “a rare female CEO in the agriculture sector with a demonstrated commitment to gender diversity at the team and farmer level,” Beacon Fund said in a statement. Producing organic rice as its main product, Hoa Nang Organic claims to have increased its revenue by 30% in 2021, thereby modifying its supply chain structure, and developing an online sales and product delivery strategy during the pandemic. Beacon Fund said its investment will help Hoa Nang Organic with additional resources to expand operations in the Mekong Delta region. “This will help position the company in the long term, to develop additional organic product lines of even higher value and to serve more customers,” the investor added.

Source: Dealstreetasia

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