Alibaba-backed fund bets $50m on Vietnam ‘new retail’ group

Alibaba-backed fund bets $50m on Vietnam ‘new retail’ group

Tech in Asia·2020-10-26 08:30

Ficus isn’t well-known in Southeast Asia. But the company, which holds interests across retail, logistics, and technology ventures, is set to become a major player in Vietnam and perhaps the wider region.

Its founders have impressive pedigrees. Ficus, which is registered in Singapore, is chaired by Anh Huan Dinh, who started Thegioididong (or Mobile World), Vietnam’s leading electronics retailer. Dinh sold his shares around the time the firm listed in 2014, making him a millionaire.

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