SeaTown Private Capital Master Fund by SeaTown Holdings International, an indirect wholly-owned subsidiary of Singapore state investor Temasek, has invested $50 million in OnPoint, a Vietnamese e-commerce solutions provider.
According to OnPoint’s statement, SeaTown's expected total investment of up to $50 million will be the largest private investment in the Southeast Asian e-commerce enabler industry in the last five years.
It will support OnPoint in further investing in its best-in-class omnichannel marketing and sales solutions to better serve brands and consumers.
In addition, the company said, the partnership would allow the company to tap into SeaTown's vast networks and experience in the digital economy and consumer sectors across Southeast Asia and globally.
Most recently, SeaTown made investments in the CrownX Corporation and Golden Gate Group in Vietnam.
Dickson Loo, managing director at SeaTown said, "In one of the fastest-growing e-commerce markets globally, OnPoint has proven to be the best-in-class e-commerce enabler supporting a large portfolio of local and international brands. We strongly believe that, with its unparalleled experience and capabilities, OnPoint is well-positioned to capture the growth of the Vietnamese e-commerce industry and solidify its position as an integral part of the value chain. This investment exemplifies SeaTown's philosophy, which is to partner with great management teams who have built exceptional businesses to help them achieve a shared aspiration for the company."
Tran Vu Quang, founder and CEO at OnPoint shared, "We pioneer in building the number one e-commerce enabling solutions to connect brands, platforms, logistics partners, and shoppers. Our goal is to create impactful values for the ecosystem by constantly innovating and developing sustainable, seamless customer-centric solutions. SeaTown is a valuable partner for us, given their long-term vision and a wealth of experience in the global digital economy."
By Tri Lam