{"url":"https://newsforagent.com/news/2026-10-20/pidg-infraco-dat-bike-convertible-note-exit","markdown_url":"https://newsforagent.com/news/2026-10-20/pidg-infraco-dat-bike-convertible-note-exit.md","title":"PIDG Exits Dat Bike After $4 Million Note Redemption","headline":"PIDG's InfraCo Redeems $4 Million Dat Bike Note, Ending 2024 Investment","description":"PIDG's InfraCo redeemed a $4 million convertible note in Dat Bike, exiting the Vietnamese electric motorbike maker.","section":"Divestitures","published_at":"2026-10-20T06:30:56+00:00","modified_at":"2026-10-20T06:30:56+00:00","author":"News Desk","key_takeaways":["PIDG's InfraCo exited Dat Bike after redeeming a $4 million convertible note it provided in 2024.","Dat Bike raised $22 million in September 2025 and extended the round to $26 million in March 2026.","PIDG said its financing helped Dat Bike grow its sales network from four to 70 stores."],"companies":[{"name":"Dat Bike","is_primary":true,"profile_url":"https://akta.pro/company-profiles/00004kd/dat-bike","website":"https://dat.bike"},{"name":"Private Infrastructure Development Group","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0006sb7/private-infrastructure-development-group","website":"https://www.pidg.org"},{"name":"Thien Viet Securities","is_primary":false,"profile_url":"https://akta.pro/company-profiles/000ciji/thien-viet-securities","website":"https://www.tvs.vn"}],"source":{"publisher":"DealStreetAsia","title":"PIDG’s InfraCo exits Dat Bike via convertible note redemption","url":"https://www.dealstreetasia.com/stories/pidg-infraco-exits-dat-bike-498583"},"other_sources":[{"publisher":"Stock Titan","url":"https://www.stocktitan.net/news/KKR/kkr-to-sell-infinity-transportation-to-ares-for-2-9-gvzahzhox6qs.html"},{"publisher":"Fortune India","url":"https://www.fortuneindia.com/amp/story/business-news/affirma-capital-exits-tbo-tek-with-12x-returns-generates-468-million-in-capital-gains/164763"},{"publisher":"Naver","url":"https://n.news.naver.com/mnews/article/366/0001197135"}],"tags":["Divestitures","Dat Bike","Private Infrastructure Development Group","Thien Viet Securities"],"body_markdown":"[Private Infrastructure Development Group](https://akta.pro/company-profiles/0006sb7/private-infrastructure-development-group) exited its stake in Vietnamese electric motorbike maker [Dat Bike](https://akta.pro/company-profiles/00004kd/dat-bike) through its project development arm InfraCo, after redeeming a $4 million convertible note, [DealStreetAsia](https://www.dealstreetasia.com/stories/pidg-infraco-exits-dat-bike-498583) reported. The financial terms of the redemption were not disclosed.\n\nDat Bike is a Vietnamese electric motorcycle manufacturer producing premium and family-oriented electric two-wheelers for urban commuters and ride-hailing and delivery fleets, according to akta.pro [company records](https://akta.pro/company-data). PIDG is a private infrastructure development group whose InfraCo arm provided the 2024 financing.\n\n## The InfraCo Note Redemption\n\nInfraCo provided the $4 million convertible note in 2024 to support Dat Bike's manufacturing and sales expansion. PIDG said the financing funded upgrades to Dat Bike's manufacturing facility, including battery production, equipment procurement, warehouse systems and product reengineering.\n\nPIDG said the financing also helped expand the company's sales network from four to 70 stores. PIDG said it provided governance and operational guidance and helped Dat Bike adjust its financing arrangements to accommodate new investors during the Series B round.\n\n\"During this period, we scaled our monthly production tenfold, expanded our sales channels, and strengthened our position in the market,\" Dat Bike CEO Son Nguyen said.\n\nGilles Vaes, Chief Investment and Project Development Officer at PIDG, said the group supports businesses at critical stages of their development, particularly where commercial financing is not yet readily available. Vaes said Dat Bike is well positioned for growth, citing growing consumer adoption of electric vehicles and increasing policy support in Viet Nam.\n\nThe exit follows Dat Bike's Series B fundraising of $22 million in September 2025 and an extension round that increased the financing to $26 million in March 2026. The round was co-led by Japan's F.C.C. and Rebright Partners, with participation from existing investors Jungle Ventures and AiViet Venture, alongside new investors Thien Viet Securities and Cathay Venture.\n\n## Dat Bike's Funding Record\n\nDat Bike's funding rounds on record number seven, according to funding records. The company closed a $4 million Series B extension from domestic investment bank [Thien Viet Securities](https://akta.pro/company-profiles/000ciji/thien-viet-securities) in March 2026, adding local capital markets access. Dat Bike raised a $22 million Series B led by F.C.C. in September 2025, and a $4 million debt-funded round led by InfraCo Asia in August 2024.\n\nDat Bike's total funding stands at $45.9 million, with a valuation estimate of $100 million to $250 million and a revenue estimate of $25 million to $50 million. The company was founded in 2018 and is headquartered in Ho Chi Minh City.\n\n## Other Transport Divestitures\n\nKKR agreed to sell Infinity Transportation to Ares for approximately $2.9 billion in enterprise value, with the deal expected to close in the first quarter of 2027, [Stock Titan](https://www.stocktitan.net/news/KKR/kkr-to-sell-infinity-transportation-to-ares-for-2-9-gvzahzhox6qs.html) reported on October 19, 2026. Affirma Capital completed its full exit from TBO Tek, generating a 12x multiple on invested capital and $468 million in capital gains, [Fortune India](https://www.fortuneindia.com/amp/story/business-news/affirma-capital-exits-tbo-tek-with-12x-returns-generates-468-million-in-capital-gains/164763) reported on October 14, 2026. TPG is exploring a new exit plan for its Kakao Mobility stake, including issuing new shares alongside existing ones, [Naver](https://n.news.naver.com/mnews/article/366/0001197135) reported on October 10, 2026.\n\n## Dat Bike's Next Steps\n\nDat Bike signed a memorandum of understanding with Toshiba Electronics Asia (Singapore) in September 2026 to collaborate on electric motorcycle technology. The company is expanding partnerships to support product development and plans to scale production using local manufacturing, engineering and supply networks.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}