Singapore-based Affirma Capital injects $34mln in recruitment platform Sieu Viet

The investment is expected to help Sieu Viet Group, known as Transcendental Human Resources JSC, to solidify its market leadership and value proposition in its core segment, as well as roll out value-added services to customers across its platform, Affirma Capital said in a statement.

Sieu Viet is well-positioned to capitalize on these trends alongside increasing online penetration in the employment services industry.

The firm was established in 2014 and has grown to become the leading online recruitment platform in Vietnam with four job portals - TimViecNhanh.com, ViecLam24H.vn, ViecTotNhat.com and MyWork.com.vn. Sieu Viet’s sites are well-established brands with strong user advocacy in the market amongst both jobseekers and employers.

Photo courtesy of Sieu Viet Group

It has referred millions of job applications to small-to-medium enterprises in Vietnam. Sieu Viet is Affirma Capital’s fifth investment in Vietnam since 2014.

Prior investments include N Kid Corporation, an integrated children’s lifestyle platform, Online Mobile, a mobile payment and ewallet platform, Loc Troi Group and Golden Gate Group, a restaurant chain operator, Affirma Capital is committed to backing regional champions by investing in companies with strong management teams and founders.

“We are witnessing the most exciting growth period in Vietnam with a 55-million strong workforce and an economy that is rapidly becoming increasingly productive and well-diversified,” Thuy Dropsey, executive director at Affirma Capital said.

Affirma Capital is an independent emerging market private equity firm owned and operated by the former senior leadership of Standard Chartered Private Equity. It currently manages over $3.5 billion in assets for leading global limited partners and sovereign wealth funds.