StanChart PE invests $40m in Vietnamese lifestyle platform N Kid

Marking its second investment in Vietnam this year, Standard Chartered Private Equity (SCPE) has put $40 million in N Kid Corporation, a lifestyle platform for kids and teenagers.

Cross-border investment banker BDA Partners acted as exclusive financial advisor to the deal, which sees SCPE hold ‘significant minority stake’ in N Kid.

Founded in 2009, N Kid claims to have 30 family entertainment centres across the country under the brand names tiNiWorld and T CLB, Phuong Nga Toys, mom and baby products distribution business, and a number of 20 Toyland and Babyland retail outlets.

The company will further expand its entertainment and retail chain as well as roll out new adjacent businesses with the new funding.

BDA said, in a statement, it selected SCPE after several rounds of discussions considering N Kid’s target of raising funding from regional and Southeast Asia financial sponsors.

“We are very positive about the future of the business and are enthusiastic about continuing to extend our existing children’s lifestyle platform to deliver best-in-class international standard products and services to modern families throughout Vietnam,” said Thomas Ngo, co-founder of Ho Chi Minh City-headquartered N Kid.

Paul DiGiacomo, BDA partner and head of Southeast Asia operations, emphasised on the banker’s commitment to support companies in the leisure and retail sector.

SCPE, which has invested over $6 billion in companies worldwide, funneled $25 million in Vietnamese mobile wallet MoMo earlier this year. Goldman Sachs co-invested $3 million in the round, after having funded $5.75 million in 2013.

SCPE made its maiden investment in Vietnam in 2015 – a $35 million funding in restaurant chain Golden Gate, a transaction through which Vietnam-focused PE firm Mekong Capital exited. The British PE investor then announced to acquire a major minority stake at An Giang Plant Protection for $90 million.

Also read: Vietnamese fintech app MoMo raises $28m from StanChart PE, Goldman Sachs