The Private Infrastructure Development Group (PIDG) has exited from Vietnamese electric motorbike producer Dat Bike following the full redemption of a convertible note provided through its InfraCo project development platform. Dat Bike received a US$4 million convertible loan in 2024 as part of its growth strategy, helping the company expand manufacturing and sales capabilities. The exit follows a substantial Series B fundraise and reflects Dat Bike's progress in attracting commercial investment.
Financing and Governance Support
PIDG backed Dat Bike when access to growth capital was limited and remained a trusted partner throughout the company's expansion, according to Dat Bike Chief Executive Officer Son Nguyen. The financing supported manufacturing facility expansion, production capabilities, and a tenfold increase in monthly production. PIDG also took an active role in governance, providing strategic guidance and introducing greater flexibility into financing arrangements as the company scaled.
Series B Round and Investor Base
In September 2025, Dat Bike raised US$22 million in its Series B fundraise, which was later increased to US$26 million with a second close in March 2026. The round was co-led by Japan's F.C.C. Co., Ltd. and Rebright Partners, with participation from existing investor Jungle Ventures, AiViet Venture, and new investors Thien Viet Securities and Cathay Venture. The successful raise highlighted growing investor confidence in the company's electric mobility model.
Operational Growth and Job Creation
The funding facilitated the setup of an improved manufacturing facility, including warehouse system implementation, battery production upgrades, equipment procurement, and product reengineering. Dat Bike expanded its sales channels from 4 to 70 stores during the period, while creating more than 200 jobs across construction, operations, and maintenance. The company also strengthened its position through partnerships with Grab, including direct rider financing and fleet operator collaborations.
Workplace Health and Safety
Together with PIDG, Dat Bike introduced heat mitigation measures including high-volume low-speed fans, air conditioning, heat insulation, and climate-risk indicators to manage worker heat exposure. The company adopted comprehensive health, safety, environmental, and social (HSES) risk management, including regular employee training and proactive workplace risk reduction. These measures helped strengthen workplace conditions and supported the company's operational improvements.
Sustainability and Social Impact
During the loan tenure, Dat Bike contributed to an estimated 25,000 tCO2e in avoided greenhouse gas emissions through the adoption of its electric motorbikes. End user surveys by 60 Decibels found that riders reported higher income primarily from lower fuel, maintenance, and charging costs. The investment supports Sustainable Development Goal 11 on sustainable cities and communities and Sustainable Development Goal 13 on climate action.
Inclusion and Gender Diversity
Dat Bike launched the ERA model, designed to meet the needs of a broader customer base, particularly women and families. At the governance level, women represented 33% of positions by September 2026, up from 32% in August 2024, meeting the governance-related criteria of the 2X Challenge. With PIDG guidance, the company developed a recruitment plan informed by a gender-sensitive workforce analysis and focused on inclusive workplace culture and diversity monitoring.
Market Position and Future Outlook
Viet Nam's transition to electric mobility has accelerated, with government targets for 100% electric or green energy road vehicles by 2050 and low-emission zones in major cities. Dat Bike's Quantum S series offers a range of up to 285 km, nearly double that of many competitors, with performance comparable to conventional internal combustion engine motorcycles. In September 2026, the company signed a Memorandum of Understanding with Toshiba Electronics Asia (Singapore) to develop more efficient and reliable electric motorcycles.
PIDG's exit through the redemption of its convertible note marks a successful conclusion to its engagement with Dat Bike and demonstrates how development finance can help emerging manufacturers reach commercial viability. Dat Bike's expanded production, wider store network, and stronger governance position it for continued growth in Viet Nam and across Southeast Asia. The company's progress aligns with supporting cleaner, more affordable mobility and attracting significant follow-on investment.