Sunday,  Oct 21, 2018,00:22 (GMT+7) 0 0
Mekong Capital divests from Asia Chemicals
By Tam An
Saturday,  Aug 11, 2018,12:57 (GMT+7)

Mekong Capital divests from Asia Chemicals

By Tam An

Mekong Enterprise Fund II, a unit of Mekong Capital, divests all of its 10 investments - PHOTO: MEKONG CAPITAL

HCMC - Mekong Enterprise Fund II, a unit of Mekong Capital, has completely divested from Asia Chemicals Corporation (ACC) and taken in US$8.9 million, a 2.6-fold increase over its initial investment, after a seven-year holding period.

According to a press release issued by Mekong Capital on August 10, in 2011, MEF II invested US$3.8 million in ACC, which was its 10th investment, after others in Mobile World Investment Group (The Gioi Di Dong), Golden Gate, Vietnam Australia International School and International Consumer Products.

However, MEF II has now divested from all of its 10 earlier investments. The divestments have helped the fund generate a gross return multiple of 4.5 and a gross internal rate of return of 22.5%.

Early this year, MEF II sold five million shares at Mobile World, generating a gross return multiple of 56.9 and an IRR of 61.1%, making it one of the most successful investments in Asia.

Also, the fund’s full exit from Vietnam Australia International School and Golden Gate had resulted in a gross return multiple of 4.5 and 9, respectively.

Mekong Capital is an unlisted private equity firm, focusing on the consumer goods sector. Its funds have made 33 investments in Vietnam, of which 25 investments have been fully exited.

Its latest fund, Mekong Enterprise Fund III, has invested in seven companies, including pawn shop chain F88, Nhat Tin and ABA logistics firms, Chao Do restaurant chain, Ben Thanh Jewelry, English teaching organization Yola and mattress sleep solution provider Vua Nem.

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