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Louis Nguyễn, an investor of TV reality show Shark Tank, on Monday said he plans to invest VNĐ10 billion (US$438,000) in Hoa Nắng Agriculture Company Ltd, a start-up producing organic agricultural produce.
Louis Nguyễn announced at the signing ceremony that Hoa Nắng would diversify from rice into other kinds of organic produce, and focus on both the domestic and export markets.
Besides selling in the domestic market, the company would also export, including to the US, with the strong development in the former driving exports, he said.
Without disclosing the stake he was buying in the company, he said merely its structure would be changed.
Nguyễn also announced he was investing in VIETSWAY Enterprise, in this instance saying he would pick up a 49 per cent stake without revealing the investment amount.
VIETSWAY is an e-commerce company that now sells more than 200,000 Vietnamese products on international e-commerce platforms like Amazon, Walmart, Ebay, Sears, Google Shopping, Etsy and Rakuten.
The investment in VIETSWAY would help Hoa Nắng export, he explained.
Hoa Nắng is famous in Shark Tank for having founders Lâm Anh Tú and Đặng Thị Trường An with a lot of ambition and enthusiasm but little money.
When they came to Shark Tank, Hoa Nắng had had another investor. When Nguyễn agreed to invest in it, the company shut down since the investor pulled out his stake.
The two founders then set up a new company with the same name.
Nguyễn owns SaiGon Asset Management.