KAfe Group Limited, a coffeehouse chain founded in 2013, has received an infusion of US$5.5 million by foreign venture capitalists.
Hong Kong-based Cassia Investments, a private-equity firm specializing in funding lower middle-market companies across Asia, has provided 90 percent of the funding. The other 10 percent came from another investor based in London.
KAfe founder Dao Chi Anh said the infusion would allow the chain to expand its operations out of Hanoi, where it is now has 12 stores, adding that the disbursement started last month.
She hopes to increase the number to 26 after going to Ho Chi Minh City and other major cities by year end.
The company, which owns four brands — The KAfe, KAfe Village, KAfe Box, and The Burger Box — is also eyeing an overseas public listing at a later stage, news website DealStreetAsia recently reported.
It is reportedly developing its own branded coffee and tea ranges and a pressed juice range.
Anh, a home chef and a cookbook author, opened the first KAfe store in August 2013, targeting young customers with fusion cuisine and naturally flavored drinks.