Nguyen Kieu Giang and K. Oanh Ha, Bloomberg News
Mekong Capital Ltd., a Vietnam-focused private equity firm, plans to raise a maximum $250 million for its fifth fund by early next year, according to two people familiar with the matter.
The fundraising will take about four months, the people said, asking not to be named as the information is not public yet. The fund will invest in the same sectors that Mekong Capital’s previous funds have focused on: retail, restaurants, education, packaged consumer products and consumer services.
A Mekong Capital representative declined to comment.
Vietnam’s expanding consumer and retail sectors, fueled by the nation’s youthful demographics and growing middle class, is attracting foreign investors. The country has one of the fastest-growing economies in Asia, with Fitch Solutions on Tuesday revising its Vietnam 2019 gross domestic product forecast upward to 6.9%.
Mekong Capital has held roadshows in Seoul, Tokyo and Hong Kong, the people said.
The equity firm will target investors similar to those backing its Mekong Enterprise Fund III and earlier funds and expects to pull in new investors, including from Japan and South Korea, they said.