CyberAgent Ventures is the venture capital arm of Tokyo-based CyberAgent, Inc., and is expanding its business in the South East Asian market. The investment is made through CA Asia Internet Fund I, L.P., a venture capital fund specialized in the South East Asian market.
According to the official announcement, Foody.vn was launched in August this year, and is currently the fastest-growing food review site in Vietnam. In a short period of three months after launching, Foody.vn has reached over 10,000 restaurant listings with over 5,000 reviews.
The fund will be used primarily to facilitate further growth of its users and content. The official announcement also highlights the potential of food-based applications in the country.
“As there is a void for this type of media in Vietnam and successful business models have been executed off by existing gourmet searching & user-review media in Japan and China, CyberAgent Ventures believes that Foody has strong potential to become the leading media in such kind of content in Vietnam and will take advantage of CyberAgent Inc.’s wide network of resources to enhance the company’s growth and value.”
The food review sites are really active in the region recently:
Looks like investors and venture capitalists are actively snapping up food review portals and food social sharing networks around the region. So, who’s next? And what do the investors know that we do not know?