In mid-August, Every Half Coffee Roasters, a fast-growing speciality coffee brand, received initial funding in a round led by regional investor Openspace, with additional participation by DSG Consumer Partners. The deal’s value remains undisclosed based on mutual agreement.
![]() |
More deals can help feasible agriculture, illustration photo/ Source: Shutterstock |
The funding will be utilised for multiple purposes, including expanding the company’s retail presence through more stores and coffee roasters. Importantly, it will also support Every Half in securing its supply chain by fostering partnerships with local farms. These partnerships aim to cultivate and develop climate-resilient coffee varieties such as starmaya, marsellesa, and others, which will be used exclusively by Every Half or sold under their brand.
Dennis Le, vice president at Openspace Ventures, said, “Openspace Ventures has been bullish on the coffee sector for years, viewing it as an excellent indicator of consumer spending. With a track record of investing in coffee businesses in emerging markets with large middle-class populations and rising GDP per capita, such as Indonesia and the Philippines, Vietnam was a natural next step.”
Every Half stood out among numerous coffee businesses due to its highly experienced founding team, who have successfully built two previous coffee ventures. The company’s ambitious vision to establish a strong Vietnamese coffee brand, both domestically and globally, along with its superb product quality that could compete on an international level, made it an attractive investment opportunity.
“Agriculture is a strategic sector for Openspace Ventures, with existing investments across Southeast Asian countries including the Philippines, Indonesia, and Thailand,” Le said. “Historically, the firm has primarily engaged with downstream companies that support farms through offtake agreements or technology transfer. However, Openspace is increasingly seeking investment opportunities in tech firms that can support upstream farmers or cooperatives.”
Also in the same month, coffee and pepper producer Phuc Sinh Corporation secured a loan of as much as $25 million from SAIL Investments’ Dutch-based &Green Fund.
Phan Minh Thong, general director of Phuc Sinh said, “The company has received much attention from investment funds since 2013 but with a low valuation. In early 2024, we also reached an agreement with a European fund, which values the company at $320 million.”
Phuc Sinh has fostered cooperation with two European funds, which prioritise sustainable development in line with its model. The two funds are investing in green agriculture, which will provide assistance to Phuc Sinh in the long term, Thong added.
“Businesses should take advantage of the opportunity to form partnerships with foreign partners to grow stronger. This is particularly true in the context that Vietnam has emerged as an agri-food supplier for several countries around the world post-pandemic,” he said.
In May, Singapore-based agritech platform Rize raised $14 million in a Series A funding round to expand its operations.
Dhruv Sawhney, CEO of Rize, told VIR that the expansion will not only increase its footprint in Vietnam but also extend throughout South and Southeast Asia.
“Vietnam is a major player in the global agricultural market, particularly as the world’s third-largest rice exporter, with an estimated production volume of approximately 43.5 million metric tonnes of rice paddies in 2023 alone,” Sawhney said. “This significant scale of production underscores the critical role that agriculture plays in the country’s economy and potential impact on global food security.”
According to data by the Ministry of Agriculture and Rural Development, agro-forestry-fishery exports reached just over $40 billion in the first eight months of the year. Key agricultural products are enjoying higher export values than last year – coffee exports increased 36.1 per cent to $4.03 billion, while fruit and vegetable export turnover was estimated at $4.63 billion, an on-year increase of 30.6 per cent. Following is rice with an export turnover of $3.85 billion, up 27.1 per cent.
Historically, green and venture capital funding in Vietnam’s agricultural sector has been somewhat limited. However, the pressing challenges of climate change and the urgent need to ensure food security are driving a shift in this landscape.
“Venture capital funding can play a crucial role in this transformation by investing in and promoting sustainable farming practices, smart farming technologies, clean energy adoption in agriculture, green financing platforms, advanced biotechnology in farming,” said Le from Openspace Ventures. “These investments have the potential to dramatically benefit Vietnam’s agricultural sector by increasing efficiency, sustainability, and resilience to climate change, while also improving the overall quality and competitiveness of Vietnamese agricultural products in the global market.”
![]() | Overcoming challenges to unlock green agriculture in Vietnam Developing large-scale green agriculture in Vietnam faces several challenges, including land consolidation, infrastructure needs, and building market trust. Smart farming practices and supportive policies are crucial to meeting Vietnam's ambitious agricultural goals and expanding its export market. |
![]() | Vietnam’s rice exports deliver strong yield Vietnam has strengthened its position as a global rice exporter as surging prices and volumes propel the country towards a projected record-breaking eight million tonnes of exports in 2024. |
![]() | Businesses embrace green transformation for net-zero goals Businesses' efforts to realise Vietnam's net-zero goal are being fostered, creating strong momentum for a seamless green transformation in terms of awareness, thinking, and action. |
![]() | Vietnam approved to export passion fruit to Australia Passion fruit becomes the fifth Vietnamese fruit to be approved for export to Australia, following mangoes, longans, lychees, and dragon fruit. |
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional