Consulting firms Deloitte and Viet Capital have been engaged to facilitate the sale of these two universities, according to multiple sources.
Nguyen Hoang Group acquired Hong Bang University in 2015 and Hoa Sen University in 2018. Founded in 1991, Hoa Sen University currently has four campuses in Ho Chi Minh City. Meanwhile, Hong Bang University, established in 1997, has two campuses and is renowned for its medical training programs.
 Mr. Hoang Quoc Viet, Chairman of Nguyen Hoang Group
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Founded in 1999 by Mr. Hoang Quoc Viet (Chairman) and Mrs. Hoang Nguyen Thu Thao (CEO), Nguyen Hoang Group has become one of the largest educational conglomerates in Vietnam.
In addition to Hoa Sen and Hong Bang Universities, the group also owns Gia Dinh University, Ba Ria-Vung Tau University, and MIT University. Their educational system includes three K-12 chains (kindergarten to grade 12) and a preschool chain, with the majority of campuses located in the southern region.
 Schools within the Nguyen Hoang Group system
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According to DealStreetAsia, Nguyen Hoang Group’s decision to divest is due to challenges in raising capital. In July 2022, DealStreetAsia reported that JPMorgan had been engaged to advise on the sale of the group’s stake, with expectations of a $1 billion valuation. However, Reuters reported in December 2022 that the stake sale was put on hold as the desired valuation was not met.
Sources indicate that Nguyen Hoang Group is now seeking approximately $150-200 million for each university up for sale. DealStreetAsia has reached out to Nguyen Hoang Group, Deloitte, and Viet Capital for comments but has not received any responses.
The Appeal of Vietnam’s Education Sector
Vietnam’s education sector is attracting significant interest from private investors. Recently, IGC, backed by Navis Capital Partners, acquired Hong Duc School in Hanoi.
Meanwhile, EQuest Group has consolidated nearly 20 schools ranging from preschool to college levels, along with educational technology (Edtech) units. BHL Education in Ho Chi Minh City secured funding from Heritas Capital in Singapore, and Excelsior Capital Vietnam Partners invested in Kaplan Vietnam after exiting Khôi Nguyên Education.
The venture capital and early-stage investment landscape in the education sector has also been vibrant. Prep recently raised funds from Cercano Management, Northstar Ventures, East Ventures, Touchstone Partners, and Saison Capital. Startup Vuihoc has invested millions of dollars in The IELTS Workshop, an English teaching chain. Galaxy Education is also seeking to raise approximately $10-20 million in its new funding round.
Vu Hao (According to DealStreetAsia)
