Mekong Capital set to close fourth Vietnam fund

Mekong Capital, a Vietnam-focused Private Equity firm, specializing in consumer driven sectors such as retail, restaurants, consumer products and distribution, is working on a $150 million fund , its fourth in the country, and may close this round soon, if it can raise between $80-$100 million, DEALSTREETASIA has learnt.

Its fourth Vietnam vehicle will be its largest, and the firm plans to continue with it existing strategy of investing up to around $15 million in fast growing companies with ambitious expansion strategies.

Established in 2001, Mekong Capital’s funds have so far completed 26 private equity investments, of which 16 have been fully exited and 3 partially exited.

The PE firm had raised its third fund – Vietnam Azalea Fund – in 2007, and this vehicle manages $64 million in committed capital and makes minority investments in companies which are less than 24 months from time of listing or already listed. Prior to that, it had raised Mekong Enterprise Fund series – launching the first in 2002 at $18.5 million and the second in 2006 at $50 million – focusing on growth capital for companies which don’t have imminent listing plans at the time of the investment.

The fund has had two successful exits this this year. In September 2014, Mekong Enterprise Fund II had divested its investment in Golden  Gate Joint Stock Company resulting  in a net return multiple of 9.1x and a gross IRR of 45.1% on the bond sold by the fund. This Fund’s (Mekong Enterprise Fund II) remaining three investments include Mobile World (retail), Asia Chemical Corp (chemical distribution) and Vietnam Australia International School (K-12 education), the firm had said in a statement.

Prior to that, in April this year, it had sold  5,646,937 shares of MobileWorld equivalent to 9% of the company’s issued shares, in a pre-listing share placement, and said it had got a 21.8x increase from the adjusted price per share at which it originally invested in MobileWorld in 2007.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.