Vietnamese EV maker VinFast Auto will officially enter the Philippines by the month-end while SG-based Emerging Markets Investment Advisers has invested in Thailand’s Syn Pitarn. Separately, Earth Venture Capital has co-invested in French aerial inspection startup HyLight’s $4-million investment round.
VinFast enters Philippine EV market
Vietnamese electric vehicle maker VinFast Auto has announced that it will officially enter the Philippine electric vehicle market by the end of this month.
The Philippines marks a new milestone for VinFast in its Southeast Asian expansion strategy, particularly as the country embraces more government policies that promote the growth of electric vehicles.
As part of its global growth strategy, VinFast has invested in numerous markets including the US, Canada, Europe, and, more recently, Indonesia, India, and Thailand.
The new market foray comes shortly after VinFast opened its first dealership in Indonesia, operated by local partner, PT Gallerie Setia Utama.
Emerging Markets Investment Advisers invests in Syn Pitarn
Singapore-based private equity fund manager Emerging Markets Investment Advisers has announced its investment in Syn Pitarn, a Thai finance company that serves the underserved Burmese migrant community in the country.
The PE fund manager invested through its ASEAN Frontier Markets Fund (AFMF).
Thailand is home to an estimated 5 million migrants, of which 75% are from Myanmar.
The investment from EMIA will accelerate Syn Pitarn’s branch expansion and bolster the growth trajectory of its loan portfolio, according to an announcement.
Established in 2009, EMIA has invested in 23 companies across a variety of sectors in ASEAN’s frontier markets that promote its broader investment strategy.
Earth VC invests in HyLight
Earth Venture Capital has co-invested in French aerial inspection startup HyLight’s EUR3.7 million ($4 million) investment round.
Y Combinator, Ring Capital, Kima Ventures, Collaborative Fund and Tesla co-founder Marc Tarpenning participated in the round.
Founded in 2022, HyLight’s flagship creation, the HyLighter, is a hydrogen-powered airship drone capable of collecting vital data over extensive distances without emitting greenhouse gases.
