Mekong Capital’s first fund to focus exclusively on Vietnamese consumer-driven sectors
Mekong Enterprise Fund III (MEF III) was launched in May 2015 with US$112 million in committed capital, double its predecessor, Mekong Enterprise Fund II. MEF III was Mekong Capital’s first fund to focus exclusively on Vietnamese consumer-driven sectors.
Given the evolution of the Vision Driven Investing framework over time, MEF III investee companies generally implemented the Vision Driven Investing framework to a much greater degree than the typical investments in predecessor finds. Hence, there has already been a level of consistency in growth rates across the Fund’s portfolio which is unprecedented in our previous funds.
MEF III has made 9 investments, all of them are in retail, restaurants, consumer products, and service providers to retailers, such as logistics. Many of the companies have already grown substantially since the Fund’s initial investment, for example:
- Pharmacity: From 45 stores to 900+ stores
- F88: From 10 branches to 800+ branches
- Vua Nem: From 36 stores to 130+ stores
- ABA Cooltrans: From 35 trucks to 250+ trucks and 3 cold storage facilities
In November 2022, the Fund divested its stake in Pizza 4P’s.
