Asian private equity firm Mekong Capital has reportedly launched a new Vietnam fund targeting $150m.
AltAssets revealed in 2012 that the firm was planning to raise a fourth vehicle in the second half of that year, but it has apparently been holding back until completing a few more exits.
The firm launched its first investment fund in April 2002 with a ten-year life expectancy, focusing its efforts on companies in the manufacturing and export industries.
Mekong I, which raised $18.5m, was dwarfed in 2006 by the £50m Mekong II fund, which saw the firm shift its strategy to the country’s burgeoning consumer industries.
Its third fund, called Vietnam Azalea, was launched a year later with $64m of backing specifically aimed at the late-stage, low liquidity risk end of the private equity investment spectrum.
The highly selective fund only makes minority investments in Vietnamese blue-chip companies which are less than 24 months from listing or are already listed.
Mekong’s new fund, which is anticipated to gain up to $150m in backing, will be spread across fast-growing market leaders in retail, consumer products and distribution.
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