More “aggressive” founders wanted in Vietnam

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In 2019, Vietnam became the third-most active investment ecosystem among the six largest ASEAN countries, so it’s clear that investors believe in its potential. However, concerns over the ability of Vietnamese startups – and perhaps more worryingly, the lack of ambition – to expand beyond the domestic market persist.

You can check out the full article and analysis here or keep scrolling for a quick summary. Also, do check out this cool Southeast Asia startup family tree visualization created by my lovely colleague Susi Susanti.

But first, today’s quick news bytes:

1️⃣ SoftBank is aiming to pour US$10 billion into public investing

The investments are part of a new asset management arm and include some stock holdings in FAANG companies (i.e., Facebook, Amazon, Apple, Netflix, and Google). SoftBank’s dealings with public stocks have yielded some positive results in recent years – it profited from investments in Charter Communications in early 2018 and also from chip designer Nvidia, which was worth 398 billion yen (US$3.7 billion) when it was sold last year.

Take a look at how SoftBank rode its multibillion-dollar bets through extreme highs and lows.

2️⃣ Airbnb IPO incoming

The US vacation rental marketplace appears to be close to filing paperwork for an initial public offering later this month. Having announced plans last year to be publicly listed in 2020, it looks set to achieve that goal despite the beating it’s received at the hands of the Covid-19 pandemic.

3️⃣ [Insert eggplant pun here]

Indian startup Evo Foods wants to make a difference in the alternative meat space by producing plant-based liquid eggs. It says it uses deep food science to extract protein from legumes and other plant sources to create a clean protein alternative for India’s traditional egg market.

4️⃣ Traveling without traveling

Tokyo entertainment company First Airlines is offering virtual reality travel experiences to Japanese holidaymakers who are unable to leave the country due to Covid-19 restrictions. “Passengers” sit in first or business class seats in a mock airline cabin where they are even served in-flight meals and drinks, with flat panel screens displaying aircraft exterior views including passing clouds.

Not enough fire in the bellies of Vietnamese startups?

Southeast Asian internet mafias

2020 threw us off balance, but there’s nothing to fear