The Vietnam corporate venturing unit of the US publisher was joined by Germany-based e-commerce investor Rebate Networks and Russian peer Ru-net backing the Vietnam-based retailer.
IDG Ventures Vietnam (IDGVV), a country-specific corporate venturing unit of US-based publisher International Data Group, has joined a consortium investing $60m in local online retailer MJ.
Alongside IDGVV in the round were Germany-based e-commerce investor Rebate Networks and Russian peer Ru-net.
MJ was formed out of the merger of Nhommua.com and Diadiem.com, both run by Tom Tran.
IDGVV general manager Rachan Reddy (pictured) said: "This is a significant day for MJ Group and the companies which it encompasses –…
