NextTech's capital dropped from 500 billion to 4.2 billion, what's left of Shark Binh's empire?

(Dan Tri) - In addition to the NextTech Group ecosystem, Shark Binh also owns a series of businesses, but most of the companies have dissolved or gone bankrupt.

As Dan Tri reported, at a press conference on the afternoon of October 6, a representative of the Hanoi Police Department said that, in response to suspicions related to businessman Nguyen Hoa Binh (Shark Binh) and the AntEx virtual currency project, the authorities have stepped in to verify and investigate. Currently, the police have received a complaint from an individual who was robbed of about 2,000 USD.

Shark Binh was born in 1981 and is one of the famous businessmen in the technology field in Vietnam. In 2019, Mr. Binh participated in the game show Shark Tank, and the name Shark Binh also appeared from that time.

In 2001, at the age of 19, he founded PeaceSoft, a software company that later developed into the NextTech Group ecosystem, operating in the fields of fintech (finance - technology), e-commerce, logistics (management - transportation of goods), startup investment (startup businesses) with brands such as Nganluong.vn, BoxMe, mPOS, Vimo...

NextTech's charter capital "evaporated" from 500 billion VND to 4.2 billion VND

NextTech Group Joint Stock Company, formerly Future Technology Investment and Development Company Limited, was established in February 2013. The company's headquarters is located at 18 Tam Trinh (Bach Mai Ward, Hanoi ).

At the time of establishment, Mr. Nguyen Hoa Binh held the position of Chairman of the Board of Directors and Legal Representative. Before May 2020, this enterprise had a charter capital of 100 billion VND, of which Shark Binh contributed 70 billion VND (70% of capital) and Ms. Dao Lan Huong contributed 30 billion VND (30%). After that, Ms. Huong's capital contribution ratio was transferred to Mr. Nguyen Huy Hoang.

By December 2020, the company changed its name to NextTech Group Joint Stock Company and increased its charter capital to VND500 billion. Shareholders include Shark Binh contributing VND350 billion (70% of capital), Mr. Nguyen Huy Hoang contributing VND50 billion (10%), Mr. Dao Minh Phu contributing VND100 billion (20%). The main business lines are travel agencies and many other industries.

By December 2022, the position of Chairman of the Board of Directors, General Director and Legal Representative of this enterprise was transferred to Mr. Dao Minh Phu (born in 1980). By October 2023, the company's charter capital had decreased sharply to more than 4.2 billion VND. The shareholder structure also changed, specifically, Mr. Nguyen Huy Hoang contributed 1.26 billion VND (30% of capital) and Shark Binh contributed 2.94 billion VND (70%).

As of October 31, 2023, NextTech's charter capital remains the same, but the shareholder structure has changed. Mr. Nguyen Hoa Binh continues to hold 70% of the charter capital, while Mr. Nguyen Huy Hoang's ownership ratio has decreased to 29.5%. Notably, Phuc An Hai Investment Company Limited appeared as a new shareholder, holding 0.5% of NextTech's capital. From April 2024 to present, the enterprise has Mr. Dao Manh Dung (born in 1986) holding the position of General Director and Legal Representative.

NextTech's outstanding product is the payment gateway Nganluong.vn. According to the company's introduction, the payment platform has millions of users, hundreds of thousands of active wallet accounts and payment traffic accounts for more than 50% of the market share.

This system allows users to make online deposits, payments and money transfers through many forms such as domestic ATM cards, international cards, Internet Banking... For businesses, this platform provides online payment solutions to support e-commerce business activities.

However, the popularity of this platform has decreased compared to before due to fierce competition with emerging e-wallets in the market and has gradually become less mentioned among the general consumer group.

In addition, NextTech also has many other products such as mPoS mobile payment solution, WeShop cross-border purchasing, Vimo, P2P Lending platform Vaymuon and participates in a series of new markets, in the logistics sector there are projects FastGo, HeyU, Boxme...

NextTech's product portfolio and fintech investments (Photo: Screenshot).

In addition, NextTech also invested in TopCV, Coolmate, Ladipage, Myspa... The current product list on the company's website no longer includes any fields related to cryptocurrency. However, this used to be the area that NextTech's leadership focused on investing in and promoting heavily in 2021.

Despite owning a large product portfolio, not all of NextTech’s products or investments are successful. Many projects have closed down and “disappeared” from the market such as ShipChung.vn, WeShop…

Shark Binh still does real estate business?

Notably, Shark Binh also participates in the real estate sector with Nextland Real Estate Investment and Trading Joint Stock Company, established in February 2021. The enterprise has the same headquarters as NextTech Group, its main business is real estate trading.

When the company was first established, its charter capital was 20 billion VND, with Mr. Nguyen Hoa Binh holding the position of Director and legal representative. By March 2022, the company increased its capital to 70 billion VND, then a month later continued to increase it to 150 billion VND. However, by December 2024, its charter capital decreased to 142 billion VND; in June this year it decreased to 86 billion VND and by September, Nextland continued to reduce its charter capital to 73 billion VND.

After many changes in legal representative, in September this year, Mr. Dao Manh Dung held the position of Chairman of the Board of Directors and General Director of this enterprise.

Mr. Nguyen Hoa Binh, founder of NextTech Group (Photo: Manh Quan).

In addition, Mr. Binh is also the legal representative of a series of other enterprises established in the period 2012-2020 such as: Taxially Vietnam Joint Stock Company, Weship Vietnam Joint Stock Company, Shippchung Vietnam E-commerce Joint Stock Company, Hoa Binh Technology Solutions Joint Stock Company, O2O Distribution Technology Joint Stock Company Vietnam, Vietnam Financial Technology Services Company Limited, 12Trip Joint Stock Company. However, these companies have all dissolved and ceased operations.

Million dollar deals and controversial statements

Shark Binh joined Shark Tank Vietnam season 4 in 2019 and is one of the most active "sharks" on television. Some of Shark Binh's notable deals include pouring 500,000 USD (more than 13 billion VND) into Coolmate - an online men's fashion startup.

Or the decision to invest 500,000 USD in Banh Mi Xin Chao; 1 million USD (more than 26 billion VND) in Caty Foods Dragon Fruit Noodles. Another deal with a similar value is Kalo Toys, an educational toy startup that he and Shark Minh Beta co-invested in, meaning each person invested 500,000 USD.

In season 7 (2024), Shark Binh was considered the most generous "shark" when he "closed deals" of 73 billion VND for 11 deals. However, Shark Binh once shared that the actual disbursement rate was only about 15% and the remaining 85% was due to startups "busting" or after appraisal, many startups did not meet the investor's criteria.

On television, Shark Binh stands out for his straightforward style, sometimes causing heated debates. When faced with startups with sky-high valuations, he often reacts harshly with statements like: “Are you here to joke with the shark?”, “Stop doing this model, you will lose money”, or “Don’t be crazy about the price”.

These statements have been controversial. Some people think that they reflect the sobriety and reality of an entrepreneur, but others think that his way of expressing himself is too harsh on startups.

Source: https://dantri.com.vn/kinh-doanh/nexttech-tut-von-tu-500-ty-xuong-42-ty-de-che-cua-shark-binh-con-gi-20251007141741140.htm