Mekong Capital – a Vietnam-focused fund manager – is launching a US$100 million fund to invest in state-run companies being converted into shareholder-owned concerns.
The Vietnam Azalea Fund is expected to close by the end of this month.
The fund, with an operational period of 10 to 15 years, will invest in firms that are set to list with the keen interest in those in the primary stages of going public, according to its website.
It says the new fund’s strategy aims at companies around one to tow years prior to listing.
The near-term target of the fund will be the forthcoming initial public offerings by giant state-run corporations like Vietcombank, BIDV, Saigon Beverage Corp. and Hanoi Beverage Corp set in the last two quarter of the year.
Mekong Capital, established in 2001 by individuals both in Vietnam and internationally, manages the Mekong Enterprise Fund, a private equity fund launched in April 2002, and the Mekong Enterprise Fund II, a private equity fund launched in June 2006.
The Vietnam Azalea Fund differs from the Mekong Enterprise Fund and Mekong Enterprise Fund II, which focus primarily on private companies which were never under state ownership.
The private equity funds focus on investing in unlisted private Vietnamese companies in manufacturing, branding and distribution, consulting those for successful listings and seeking potential investors.
The $18.5 million Mekong Enterprise Fund’s current investment portfolios include 10 well-managed private businesses firms that are in tune with its strategy.
The firms operate in IT, design, furniture, home appliance and gas.
The Mekong Enterprise Fund II has a similar focus with a typical investment size of $3-5 million.
Source: Thanh Nien
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