Nguyễn Hòa Bình: The Visionary Entrepreneur Behind NextTech Group
Born in 1981 in Hanoi, Nguyen Hoa Binh, also known as Shark Binh, is the Chairman of NextTech Group, a pioneering digital commerce conglomerate in Southeast Asia.
NextTech’s origins trace back to PeaceSoft, a software solutions company founded in 2001. By 2005, PeaceSoft pivoted to e-commerce, marking a new era of growth. Within three years, the company was valued at approximately $6 million, amassing Binh a personal fortune exceeding $2 million—an impressive feat for a young entrepreneur in the early 2000s. However, the rise of giants like Lazada and Shopee, coupled with eBay’s exit from Vietnam, eroded the market position of Chodientu.vn, one of PeaceSoft’s early ventures.
In 2013, Binh restructured PeaceSoft into Future Technology Investment and Development LLC, the precursor to today’s NextTech Group.
NextTech Group’s Core Investment Sectors and Key Projects
Over two decades, NextTech has launched over 20 projects, not all of which succeeded. Brands like Shipchung.vn, Weshop, and Chodientu.vn have ceased operations or exited the market. Others, such as FastGo, operate minimally, while Boxme and NganLuong.vn maintain their ecosystem presence.
NganLuong.vn, established in 2012 with initial capital of VND 52.7 billion, is a standout success. Its capital peaked at nearly VND 370 billion before reverting to the original amount in early 2024.
Companies Affiliated with Nguyen Hoa Binh
From 2017 to 2022, NextTech’s e-wallets, Vimo and NextPay, consistently profited and grew, contrasting with losses reported by competitors like Momo, ZaloPay, and ShopeePay.
Launched in 2017, Vimo is operated by Vi Mo Technology JSC, a NextTech subsidiary. It is the only platform in Vietnam partnered with both Alipay and WeChat Pay, enabling cross-border payments for Chinese and Korean tourists in Vietnam.
Vimo’s Cross-Border Payment Solution
NextPay’s Growth Trajectory
Beyond business, Binh founded Next100, a venture fund supporting early-stage tech startups. He is also a prominent investor on Shark Tank Vietnam, participating in five seasons and closing approximately 40 deals, though actual disbursements remain modest.
Shark Binh on Shark Tank Vietnam
Notable investments include:
Season 1: $1.2 million in Perfect Home Appliances.
Season 2: $500,000 in Coolmate, a men’s fashion startup.
Season 3: VND 10 billion to engineer Nguyen Vinh Son for invention commercialization.
Season 4: $500,000 in Bánh Mì Xin Chào.
Season 5: VND 8 billion in Nada Oils, a scent marketing solutions provider for hotels and spas.
The Ongoing Controversies Surrounding Vietnam’s Shark Tank ‘Sharks’
From the AntEx cryptocurrency project linked to Shark Bình, to the fraud case involving Shark Thủy, and the tax scandal surrounding Shark Tam, the controversies involving the “sharks” of Shark Tank Vietnam have been making headlines recently.
Hanoi Police Collaborate with Shark Binh
Authorities in Hanoi are collaborating with Mr. Nguyen Hoa Binh (Shark Binh) to investigate allegations surrounding the AntEx cryptocurrency project, following numerous reports of financial losses and complaints circulating on social media.
Before the AntEx Crypto Scandal: Shark Bình’s Nexttech Group Abruptly Slashed Capital from $21.5M to $170K; Ngân Lượng Also Cut 85% of Its Capital
Nexttech’s shareholder structure is dominated by Shark Bình, who holds a 70% stake, with the remaining shares distributed among two other investors.
The Most Painful Failure of Shark Bình
Shark Bình expressed profound disappointment following a recent statement issued by fellow investors.
Police Remove Sealed Boxes from Building Housing Shark Binh’s Company Headquarters
After more than a day of operations at the building housing the headquarters of Mr. Nguyen Hoa Binh (also known as Shark Binh), police sealed and transported numerous boxes into vehicles, departing the premises on the evening of October 7th.
