Vietnamese co-living startup M Village, which has recently rebranded as Modern Village Lifestyle, has raised $26 million in a funding round led by Japan's Mizuho Asia Partners through its Grand Mia vehicle, which invested $18 million, according to a report published August 26, 2026. Existing shareholder Trip.com contributed a further $8 million to the round, which more than doubles the company's valuation to approximately $121.4 million.
The financing reportedly priced shares at $9 each, compared with $4.96 in the company's prior funding round, reflecting a significant step-up in valuation that suggests strong investor confidence in the company's growth trajectory within Vietnam's rapidly urbanising co-living and shared accommodation market. The involvement of Trip.com, the Chinese travel technology giant, as a repeat investor also points to potential strategic synergies between M Village's accommodation offerings and broader travel and hospitality booking ecosystems across Asia.
M Village has built its business around co-living accommodation targeted at Vietnam's growing population of young urban professionals and students, a demographic that has increasingly sought flexible, community-oriented housing options as an alternative to traditional long-term apartment rentals, particularly in fast-growing cities such as Ho Chi Minh City and Hanoi. The co-living model, which typically combines private living quarters with shared communal spaces and bundled services such as cleaning, utilities and community events, has gained traction across multiple Southeast Asian markets as urbanisation accelerates and younger consumers prioritise flexibility and social connection over the traditional trappings of long-term homeownership or conventional renting.
The company's rebrand from M Village to Modern Village Lifestyle appears to signal an ambition to broaden its positioning beyond pure co-living accommodation toward a more holistic lifestyle brand, potentially encompassing a wider range of hospitality, community and lifestyle services aimed at its core urban professional customer base. Such repositioning is a common pattern among proptech and co-living companies globally as they seek to increase customer lifetime value and differentiate themselves within an increasingly competitive shared-accommodation category.
Japan's Mizuho Asia Partners leading the round reflects continued Japanese financial institution interest in Southeast Asian proptech and hospitality opportunities, a trend that has accelerated as Japanese investors seek growth exposure in markets with more favourable demographic trajectories than Japan's own ageing and shrinking population. Vietnam, with its young population and rapid urbanisation, has become a particularly attractive destination for this category of regional investment capital.
The more than doubling of M Village's valuation between funding rounds also serves as a data point for the broader Southeast Asian proptech investment landscape, suggesting that despite a more cautious global venture funding environment through much of 2026, well-positioned regional companies addressing structural housing and lifestyle shifts among young urban populations continue to command strong investor interest and premium valuations.
As Modern Village Lifestyle deploys its fresh capital, the company's ability to successfully execute its broader lifestyle-brand repositioning — while maintaining the operational discipline required to profitably manage a growing portfolio of co-living properties — will likely determine whether it can sustain the valuation trajectory investors have underwritten through this latest funding round.
