The Hanoitimes - With the completion of this divestment, all of the investments in Mekong Capital`s first three funds have been fully exited, making Mekong Capital one of the first private equity funds in Asia to have fully divested three funds.
Mekong Enterprise Fund (MEF), a fund run by Vietnam-focused private equity firm Mekong Capital, has divested its final remaining investment in Minh Hoang garment manufacturing company, announced the former in a statement.
This divestment follows the recent sale of the final investments in both Mekong Enterprise Fund II and Vietnam Azalea Fund. With the completion of this divestment, all of the investments in Mekong Capital's first three funds have been fully exited, making Mekong Capital one of the first private equity funds in Asia to have fully divested three funds.
In total, Mekong Capital has completed 26 exits of private equity investments. All investments currently managed by Mekong Capital are held in the Mekong Enterprise Fund III (MEF III), which has so far announced seven investments.
"With the exit of Minh Hoang, we are so delighted to have completed the divestments of all of our first three funds. This enables us to focus on our newer investments in MEF III, partnering closely with each of those companies to ensure they each achieve their vision," stated Chris Freund, partner at Mekong Capital.
Minh Hoang is a local producer of sports apparel, active-wear and outerwear.
In January 2018, Mekong Capital completed the sale of its last remaining five million shares in Mobile World, resulting in a 56.9x gross return multiple and 61.1% gross IRR, making this investment being one of the most successful investments in the history of Asian Private Equity. Prior to that, the fund generated a gross return of 4.5x and 9.0x for its investments in Vietnam Australia International School and Golden Gate, respectively.
Overall, Mekong Capital's funds have completed 33 private equity investments in Vietnam, of which 26 have been fully exited. Its latest investment vehicle, the MEF III, has to date announced investments in seven companies, including lending firm F88, logistics companies Nhat Tin and ABA, restaurant operator Red Wok, Ben Thanh Jewelry, Yola Education, and mattress retailer Vua Nem.