Mekong Capital follows stellar MobileWorld part-exit with $150m fundraise plans


news_vietnam_lrgAsian 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.

Last week the firm netted a 21.8-times return on its investment in MobileWorld.

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.

Copyright © 2014 AltAssets