M Village has raised $26 million, by far the largest disclosed cheque in the Ho Chi Minh City hospitality operator's five-year history and the clearest sign yet that foreign institutional money is backing Vietnam's midscale accommodation build-out.

DealStreetAsia reported the round on Aug 24, 2026, putting the amount at $26 million and identifying Mizuho Asia Partners and Trip.com — already a shareholder — in connection with the deal. No valuation has been disclosed, and no publication has confirmed a round label or a named lead investor; a global deal feed lists the transaction as a Series B, but M Village's previous Series B closed in 2024, and press coverage describes this only as new funding. The company has not issued a use-of-funds statement. In April 2026, DealStreetAsia reported that M Village was in advanced talks to close a round with a Japanese investor participating.

What the company does

M Village was founded in 2021 by Nguyen Hai Ninh, previously chief executive of the coffee chain The Coffee House. It began with serviced apartments in Saigon's back alleys and pushed into hotels. It now runs roughly 50 properties and close to 2,000 rooms across Ho Chi Minh City, Hanoi and Da Nang in the 2.5-to-4-star band, split across five brands: M Village Hotel, M Village Living, Express by M Village, Signature and Savvy. In May 2026 the business rebranded as Modern Village Lifestyle, counting 53 properties nationwide and flagging two further formats, Prestige resorts and Harmony Living Suites. Technology sits around the stay rather than in it — booking, amenities and a MORE loyalty scheme — which is why deal trackers file the company under proptech rather than hotels.

The numbers behind the round

Prior equity was modest. A $1.7 million seed closed in March 2022 with Simple Tech Investment, Vulpes Ventures, Genesia Ventures and Access Ventures, followed by a $2.3 million internal round in late 2023. A $10 million Series B in July 2024 came from Trip.com Travel Singapore in tranches of $7.5 million and $2.5 million, leaving the travel group with about 22.5 percent. In August 2025 the company added a VND100 billion five-year unsecured loan, roughly $3.9 million, from OCB. That places disclosed equity before this round near $14 million, meaning $26 million is close to double everything raised since inception. The only operating figure the company has publicised is occupancy above 90 percent across 27 properties, reported in December 2023. No updated occupancy, revenue or profit numbers have been published.

Why the timing matters

Vietnam's branded midscale tier — above hostels, below international five-star flags — has long been its thinnest layer, and M Village has spent five years assembling it. The May rebrand pointed upmarket, toward resorts and high-end serviced apartments, formats far more capital-hungry than converting a townhouse in District 1. Growth of that kind is difficult to fund from cash flow, and the OCB facility showed the company was already willing to lever up. The shareholder mix is the other signal: Trip.com supplies regional distribution, while Japanese institutional capital points to a longer hold and cross-border ambition. What the money is actually for remains unstated.

Source

DealStreetAsia — "Vietnamese hospitality startup M Village bags $26m in new funding"