Investing in Vietnam’s Digital Investment Revolution: Insignia Ventures’ Investment in Finhay

Zeisberger Claudia; Joquino Paulo; Mao Cici; Yan Ting

Product #:IN-2255

Supplier:INSEAD

Discipline:Entrepreneurship

Setting:Asia

Details:Case (PDF) • 25 pages • 2022-11-02

Subjects:

Geography:

Asia

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The start-up ecosystem in Vietnam has seen rapid growth since 2020. This case follows an early entrant, Insignia Ventures Partners, led by Yinglan Tan out of Singapore, who is considering an investment in FinHay, a robo-advisor in the emerging fintech space in Vietnam. Is there potential to turn Finhay into one of the first ‘unicorns’ in Vietnam? Are the platform’s traction and market factors pointing to digitalization in financial services in Vietnam sufficient? How could Insignia, as an investor in FinHay translate the market potential and initial product-market fit into concrete growth? What is the best direction for Finhay beyond its current positioning to achieve unicorn status and market leadership in a highly competitive setting in SE Asia?

Learning Objectives

- Introduce the world of early-stage investing in Vietnam & SE Asia. - Explore early fintech investing in SE Asia and its growth (to 2022). - Share the entrepreneurial experience of a first-time entrepreneur. - The considerations of a VC (venture capitalist) when allocating funding to a startup. - Risk considerations when investing in an emerging market setting