Indochina Capital Invests in Vietnam’s First Coworking Space Chain

Indochina Capital (ICC) and Toong coworking space have entered into a definitive agreement under which the two companies will start working together. Indochina Capital is Toong’s latest investor and now one of its key shareholders.

The funding from Indochina Capital will allow Toong to provide more modern, progressive, and conducive working environments for companies and individuals in Vietnam.

In addition to its capital injection, Peter Ryder, founder and CEO of Indochina Capital and Doan Viet Dai Tu, co-founder and chairman of Openasia Group, will join force with Duong Do, founder and CEO of Toong, in the company’s Board of Directors.

“The union of Indochina Capital and Toong furthers Toong’s expansion and potential dominant market position while complementing Indochina Capital’s lifestyle brand.  Toong will take full advantage of Indochina’s real estate experience in design, project management, development execution and market knowledge, while Indochina Capital is adding another “arrow” to its development “quiver” with Toong as a partner and preferred tenant. Specifically, Indochina Capital’s upcoming series of lifestyle properties via the ICC-Kajima development platform will be enhanced by a Toong coworking facility.” Indochina Capital CEO, Peter Ryder, shared.