PAST INVESTMENTS
Cultivating from our experience
We’ve found selling investments to be particularly easy, especially for well-managed companies that have implemented most or all of Vision Driven Investing. We have completed 28 full exits, through a full range of exit routes: trade sales to strategic investors, sale to other PE funds, listing on the stock market and selling to other public equity funds, or sometimes sales back to the founders of the companies.
Traphaco
PharmaceuticalIn November 2017, Vietnam Azalea Fund completed the sale of all of its shares in Traphaco, a vertically-integrated pharmaceutical company specializing in the development, marketing and distribution of Vietnamese traditional medicines. The Fund originally invested in Traphaco in December 2007
Duc Thanh
ManufacturingIn Aug 2009, Mekong Capital has completed the sale of Mekong Enterprise Fund’s investment in Duc Thanh Wood Processing Joint Stock Company (“Duc Thanh”) to a Vietnamese strategic investor. The Fund originally invested in Duc Thanh in February 2005.
Saigon Gas
ManufacturingIn December 2008, Mekong Enterprise Fund sold its stake in Saigon Gas to the French oil and gas giant, Total Group, who acquired 100% of the company concurrently. This was Mekong Capital’s first divestment. Foreseeing the consolidation trend in Vietnam’s LPG market and understanding the industry dynamics, we worked closely with the company to make it attractive to strategic buyers, focusing on its distribution network, strong brand, and transparency in financial reporting. As a result, MEF managed to complete the exit at attractive valuations, even in the midst of a global financial crisis.
AA Corporation (AA)
ManufacturingIn October 2011, Mekong Enterprise Fund divested 100% of its investment in AA Corporation to an investment fund. In recent years, AA built up their senior management team, expanded its customer base significantly in the Middle East, and delivered increasingly strong financial performance. The Fund originally invested in AA in March 2003 and held the investment for more than 8 years.
Digiworld
IT & TelecomIn September 2013, Mekong Capital completed the sale of all of Mekong Enterprise Fund II’s shares in Digiworld, the number three IT distribution company (non retailer) in Vietnam. The Fund originally invested in Digiworld in December 2008.
Maison
Retail chainIn June 2010, Mekong Enterprise Fund II completed the sale of all of its shares in Maison, a chain of high-end fashion stores. The Fund originally invested in Mai Son Joint Stock Company in March 2008.
MK Smart
ManufacturingIn September 2013, Mekong Capital completed the sale of all of Mekong Enterprise Fund II’s shares in MK Smart, which is the only local card manufacturer in Vietnam. The Fund originally invested in MK Smart in December 2007.
Ngo Han
ManufacturingIn October 2013, Mekong Capital completed the sale of all of Mekong Enterprise Fund and Mekong Enterprise Fund II’s shares in Ngo Han, Vietnam’s leading magnet wire producer. Mekong’s Funds originally invested in Ngo Han in April 2004.
Venture International (VIVCO)
ManufacturingIn April 2014, Mekong Enterprise Fund II completed the sale of all of its shares in Venture International, Vietnam’s leading industrial workwear manufacturer, in a trade sale to a strategic investor. The Fund originally invested in Venture International in September 2007.
Asia Chemical Corporation
ManufacturingIn 2018, Mekong Enterprise Fund II completed the sale of all of its shares in Asia Chemical Corporation (“ACC”), a leading distributor of high-quality specialty ingredients, chemicals, non-oil related commodities and other materials, sourcing from worldwide suppliers and selling to a wide range of leading enterprises in Vietnam. The Fund originally invested in ACC in March 2011.
Tan Dai Hung Plastics
ManufacturingIn August 2009, Mekong Enterprise Fund has completed the sales of its shares in Tan Dai Hung Plastics Joint Stock Company. The Fund originally invested in Tan Dai Hung in March 2003, which was the Fund’s first investment. We have worked with them to prepare for a successful listing in November 2007.
Minh Phuc Printing & Packaging Company
ManufacturingIn February 2011, Mekong Capital completed the divestment of Mekong Enterprise Fund’s entire position in Minh Phuc Printing and Packaging Company (“Minh Phuc”) to a Vietnamese strategic investor. The Fund originally invested in Minh Phuc in November 2004.