Vietnamese blockchain startup receives investment from SoftBank’s billionaire brother

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2022-08-16 20:59:56

The younger brother of Masayoshi Son, Taizo Son, has poured his Mistletoe investment fund into Hectagon, an emerging Vietnamese startup in the blockchain field.

Billionaire Masayoshi Son (left) and younger brother Taizo Son (right)

Operating under the model of a venture capital fund, Hectagon is one of the first blockchain startups in Vietnam. The purpose of Hectagon is to provide an opportunity for retail investors to raise capital early, through holding the digital currency that the company issues. At the same time, Hectagon also focuses on investing and supporting startups in Vietnam and globally in the field of Web3, blockchain.

Notably, the founder and CEO of Hectagon is also the co-founder of VSV Capital (Vietnam Silicon Valley) – Vietnam’s venture capital fund since 2014, investing in startups in the early stages.

From 2014 to present, VSV has funded more than 80 pre-seed and seed startups, with a total portfolio valuation of nearly $300 million. Among them, nearly 70% of successful startups overcome the “death valley”. Others grew 1,000 times their initial valuation. Typical is Loship,, Vulcan, Modmo, Nerman, Loop POS, Ship60, Hachi…

Taizo Son shared:

“Hectagon’s hybrid model of Defi (decentralized finance) and venture capital fund is unique. I believe that, with the experience of the founder, the enthusiasm and youth of the leadership team and the companionship of Mistletoe, Hectagon will soon succeed and contribute to opening a new concept of venture capital.”

In addition, Mr. Taizon Son also holds the position of advisor of Hectagon with Mr. Samresh Kumar – CEO and co-founder of SkyX Solar (a member of VinaCapital) and Mr. Han Ngoc Vu – CEO and member of the Board of Directors of VIB.

Taizon Son’s move to Vietnam this time is part of a plan to invest 100 million USD in technology startups in Southeast Asia.

The younger brother of the owner of Softbank Group is a seasoned investor. Not only is the founder of GungHo Online Entertainment, Taizon Son has also contributed greatly to building the Japanese tech startup ecosystem for nearly 30 years.

In the past, Mr. Taizon Son’s company has left many impressions with Puzzle & Dragons – one of the first mobile games to break the $1 billion sales record. In 2009, Taizo opened Movida Japan – a startup accelerator program for startups and in 2013 it was Mistletoe.

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