Last November, Beacon Fund and HAPAS signed an investment agreement, officially marking the start of a long-term partnership between the gender-lens investor and the retail chain from Hanoi.
Starting as a small household business in Ha Noi 12 years ago, HAPAS is the brainchild and the result of the passion and hard-work of Ms. Dang Thi Thu Ha, the Founder. It has now become a chain of fashion and accessories retail stores serving women with 12 stores nationwide. With the meaning of HA in \”Happy\” and PAS in \”Passionate\”, HAPAS was established with the mission and desire to bring happiness to customers through the shopping experience as well as suitable and quality products at affordable prices.

With the vision and mission of intentionally serving female customers and robust gender diversity within the team, HAPAS quickly impressed Beacon Fund, a gender-lens investment fund promoting gender equality in the region. During the due diligence process, HAPAS proved the sustainability of their business model through their rapid recovery after COVID-19 and the strong commitment, eagerness to learn of the management team and employees, who always promote the role of women in the operations as well as the supply chain of the company. This is a special investment as HAPAS is the first portfolio company receiving the new “impact-linked” structure from Beacon with the purpose of increasing motivation and optimising the company’s ability to create social impact. “Impact-linked” structures allow businesses to unlock lower interest rates or other incentives if they demonstrate their ability to create positive social impacts based on a specific set of metrics within a timeframe. Specifically for HAPAS, the company will be entitled to receive a lower interest rate for Beacon’s investment if they can successfully increase the retention of front-line sales talent. This metric was chosen because the front-line sales team are essential to the success of the business but often receive less attention and appreciation in the retail industry. Realising HAPAS has the ability to grow remarkably and thereby sustain and expand quality job opportunities for more women in the business, Beacon has decided to invest in this retail chain. “We admire HAPAS team\’s great desire to achieve success by seeing their extra efforts and willingness to learn during the due diligence process, as well as their progressive spirit and the culture that values personal development, which is a prerequisite for any successful business,” shared by Ms. Do Hong Yen, Investment Manager at Beacon Fund.

For HAPAS, this is the first time the company has received an investment from a foreign investor like Beacon Fund. “The year of 2022 is a turning point for HAPAS when we receive Beacon’s investment as well as their significant support in the fields of Finance & Business. I believe this partnership will help HAPAS soon achieve its mission of bringing the best products to the hands of Vietnamese women,\” said Mr. Le Manh Chung, CEO of HAPAS. The recognition of Beacon Fund is a testament for the potential of HAPAS as well as an affirmation and reinforcement of the company’s confidence in the future direction. This investment will contribute to HAPAS with necessary resources to continuously improve and develop to achieve the goal of bringing the best experience and products to their customers and the ambition of reaching 30 stores in 2023 and 100 stores in 2024. Ms Dang Thi Thu Ha, HAPAS Founder shared: “As soon as we learnt that Beacon was an investment fund serving women, our management team (80% are women) and I were already looking forward to the day we could have the opportunity to work with Beacon. We are grateful for Beacon for inspiring and motivating the community of female entrepreneurs in Vietnam, as well as contributing to enhancing our confidence on the pathway to pursue our own dream.”
HAPAS Stores:
Store 1: 195 Cau Giay, Dich Vong Ward, Cau Giay District, Ha Noi
Store 2: 108 C2 Pham Ngoc Thach, Trung Tu Ward, Dong Da District, Ha Noi
Store 3: 163 Hoang Cau, Trung Liet, Dong Da, Ha Noi
Store 4: 949 Cach mang Thang 8, Ward 7, Tan Binh District, HCMC
Store 5: 37 Quang Trung, Ward 10, Go Vap District, HCMC
Store 6: 252 Pham Van Thuan, Thong Nhat Ward, Bien Hoa City, Dong Nai
Store 7: 265 Ngo Gia Tu, An Nhon, Binh Dinh
Store 8: 120 Hai Ba Trung, An Bien Ward, Le Chan District, Hai Phong
Store 9: 1937 Hung Vuong, Gia Cam Ward, Viet Tri City, Phu Tho
Store 10: H7-8 Time Garden Ha Long – Le Thanh Tong Street
Store 11: 49 Le Huu Lap, Lam Son Ward, Thanh Hoa City, Thanh Hoa
Store 12: 125 Le Hoan, Lam Son Ward, Thanh Hoa City, Thanh Hoa
About Beacon Fund
Seeded by Patamar Capital in 2020, Beacon Fund is a gender-lens investment fund from Singapore focusing on supporting women-owned and led businesses in Southeast Asia. Beacon Fund provides debt and mezzanine products that are flexible and tailored to the needs and characteristics of each business, along with other values besides finance. Up to now, Beacon Fund has successfully invested in a number of businesses including MindX Technology School, Hoa Nang Organic, Vua Cua, and most recently, HAPAS.