Some of the hardest deal situations in Vietnam had nothing to do with financial or operational complexity.
Some of the most interesting opportunities in Vietnam are found in smaller, founder-led businesses. They often require more patience and understanding, but that is also where significant value can still be built.
Sasin’s Instant Noodle Pack: From Restaurants to FMCG
Sasin expanded beyond restaurants by turning its core product into an FMCG offering. Today, it is a leading spicy noodle brand online in Vietnam, showing how an F&B brand can grow beyond physical locations.
Why might Italian culinary craftsmanship not fit for scale in Vietnam and other Asian markets?
More than a decade in Vietnam’s F&B sector taught me that great food and a scalable business are not always the same thing. Growing to 100+ locations requires balancing authenticity with systems, consistency and operational discipline.
Vietnam’s Coffee & Tea Chain Market reached $1.34B in 2025.
Vietnam’s Coffee & Tea Chain Market reached $1.34B in 2025, a remarkable figure for a country of ~100M people. Milano Coffee Vietnam has recently been mentioned among the larger players in the region, alongside brands like Highlands Coffee®, which is actively building its IPO narrative.
Capital is easy. The right partner is hard, especially in Vietnam.
“What valuation can I get?”That’s the first question I hear from many F&B founders when raising capital in Vietnam. In my experience, the more important question is:“Who can help me reach the next stage of my business journey?”
“The moment you stop treating the company only as yours, people begin caring about it as theirs.”
This week, I had a discussion with a founder about governance and decision-making, the kind of conversation that can easily feel uncomfortable or even like micro-management if not handled with the right context. It didn’t escalate because I understood that feeling, I’ve been there myself.
By definition, returns come from seeing things before they’re obvious.
That requires holding incomplete or unpopular views without rushing into ideology.
The products that really scale usually look simpler at first, but they fit how most people actually live.
The products that really scale usually look simpler at first, but they fit how most people actually live. That’s why local data and judgment always matter more than our personal preferences.
Before chasing investors, ask: “Is my product so good that customers want more of it?
Investors, especially in a fast growing/changing market like Vietnam, already carry enough risk: country risk, GP risk, illiquidity risk. They don’t want unnecessary operational risk on top.
Over the years, I’ve learned four things that changed the way I think about value creation.
The longer holding period and capital commitment create a simple, unavoidable reality: you own the result. You can’t hide behind deliverables, you live with the consequences of your decisions.But it took time to shift my mindset from providing answers to driving results.