Private Infrastructure Development Group (PIDG) has exited its stake in Vietnamese electric motorbike maker Dat Bike, held through its project development arm InfraCo, following the redemption of a $4 million convertible note, according to an announcement.
InfraCo provided the financing in 2024 to support Dat Bike’s manufacturing and sales expansion. The financial terms of the redemption were not disclosed.
The 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.
PIDG’s financing supported upgrades to Dat Bike’s manufacturing facility, including battery production, equipment procurement, warehouse systems and product reengineering. It also helped fund the expansion of the company’s sales network from four to 70 stores, PIDG said.
PIDG said it also provided governance and operational guidance and helped Dat Bike adjust its financing arrangements to accommodate new investors during the Series B round.
“During this period, we scaled our monthly production tenfold, expanded our sales channels, and strengthened our position in the market,” said Dat Bike CEO Son Nguyen.
“At PIDG, our role is to support businesses at critical stages of their development, particularly where commercial financing is not yet readily available. Contributing through our sector expertise, board-level guidance, flexible financing and HSES oversight to Dat Bike’s strong execution capabilities, we have together established the foundations needed to scale sustainably. Combined with favourable market conditions – including growing consumer adoption of electric vehicles and increasing policy support in Viet Nam – the company is well positioned for growth. We are proud to have supported Dat Bike on its journey from an emerging manufacturer to a business capable of attracting significant follow-on investment,” said Gilles Vaes, Chief Investment and Project Development Officer at PIDG.
Vietnam’s shift towards electric mobility has gained pace since PIDG invested in Dat Bike. The government aims for all road vehicles to run on electricity or green energy by 2050, while Hanoi and Ho Chi Minh City are developing low-emission zones and restrictions on internal combustion engine motorcycles.
Dat Bike signed a memorandum of understanding with Toshiba Electronics Asia (Singapore) in September 2026 to collaborate on electric motorcycle technology. The company is also expanding partnerships to support product development and plans to scale production using local manufacturing, engineering and supply networks.
