CyberAgent Ventures Continues Vietnam Push, Invests in Online Book Service

CyberAgent Ventures, a subsidiary of Japan’s CyberAgent (TYO:4751), today announced its most recent of many investments in Vietnam. The firm is investing in Ho Chi Minh-based Tiki Corporation, a company established in March of 2010 which runs an online book store. CyberAgent cites rapid growth in Vietnam’s e-commerce market and Tiki’s correspondingly strong growth as promising reasons for investment. In the announcement, it noted, “We believe that they have [the] potential to become the top e-commerce company in the Vietnamese market.” To date, CyberAgent has invested in a handful of Vietnamese tech companies, including NCT Corporation (which operates music website nhaccuatui.com) about a month ago. Vietnam’s internet population sits at almost 30 million, and it has mobile penetration of about 100 percent, so many companies are looking at the country as one of big potential in the internet and mobile industries. CyberAgent is one of the fastest entrants into Vietnam, making early investments like this one.