This document discusses 5 trends in Vietnam startup investment and mergers & acquisitions from 2012-2013. The trends are: 1) Startup investing has not slowed down though deals are smaller. 2) E-commerce, mobile, and edtech are attracting more deals. 3) Startups are targeting global/regional rather than domestic markets. 4) Japanese investors are increasingly active. 5) Strategic investors are making early-stage investments in addition to acquisitions. The document also provides details on some notable startup success stories and exits in Vietnam.