Mekong Capital

Mekong Capital is a private equity firm based in Ho Chi Minh City, Vietnam, with an additional office in Hanoi. Founded in 2001, it focuses on mid-market investments in consumer-driven sectors, including retail, restaurants, consumer products, and distribution. The firm has established a strong track record in Vietnam, having completed 30 private equity investments with 22 fully exited and one partially exited. Mekong Capital's team consists of over 25 professionals who average around six years of tenure, led by three partners with a combined 31 years of experience at the firm. The firm targets fast-growing, market-leading companies that operate in fragmented markets and have ambitious expansion plans. Mekong Capital is dedicated to enhancing the value of its investee companies through operational improvements, management team development, and the introduction of best practices, employing its Vision Driven Investing framework to ensure successful execution of growth strategies.

Khanh Van Do Thi

Director

Christopher Freund

Founder, Partner & Value Creation Team Member

Tran Thu Hang

Senior Associate

LE Khac Hien

Associate

Tran Mai Hoa

Associate

My Hanh Hoang

Associate

Le Quang Hung

Senior Associate

Le Hong Lan

Senior Associate

Tran Phuong Nam

Senior Associate

Thanh Ha Nguyen

Associate

Minh Phuong Nguyen

Senior Associate

Chad Ovel

Partner

Kimberly Kay Querrey

Non-Executive Board of Director

Lai HA Thu

Associate

Minh Thuy Tran

Associate

Ellie Trang

Associate

Ashley Trang

Associate

Dieu Le Truong

Partner of Operations

Le Tuan

Senior associate

Le Hoang Tung

Associate

Ellen Van

Associate

Nguyen Khanh Van

Principal

Sjoerd Zwinkels

Principal

Max-F. Scheichenost

Director Digital Transformation

Past deals in Vietnam

Gene Solutions

Private Equity Round in 2021
Gene Solutions is a genetic testing company in Vietnam and the market leader for reproductive health tests, which respond to critical healthcare needs, such as helping parents detect chromosomal disorders during pregnancy, or preventing genetic problems, and helping to conceive a child (in-vitro fertilization – IVF).

Rever.vn

Private Equity Round in 2021
Rever Real Estate Technology Co., Ltd operates as a tech-enabled real estate brokerage company in Vietnam. The company develops an online real estate distribution system based on the map, providing the brokerage service, creates a process of buying, selling, renting real estate, based on a combination of technology and commodity consultants. Rever Real Estate Technology Co., Ltd was founded in 2016 and is based in Ho Chi Minh, Vietnam.

Mutosi Group

Venture Round in 2021
Mutosi Group is a manufacturer and distributor of household products, water care, gas care, environmental care Quality management.

F88

Venture Round in 2020
F88 Investment JSC, established in 2013 and headquartered in Viet Tri, Vietnam, specializes in providing mortgage loans through a professionalized pawn service model. The company has transformed traditional pawn services by offering fast, reliable, and customer-oriented financial solutions, catering to a wide range of collateral, including cars, motorcycles, mobile phones, and laptops. F88 distinguishes itself through a well-trained management team and a commitment to enhancing customer experiences, which has helped to reshape societal perceptions of the pawn industry. With a growing network of stores and a robust technological infrastructure, F88 delivers high-quality services that have garnered recognition, including the Gold Cup for reliable products and preferred brands in 2016 from leading intellectual property organizations in Vietnam.

Pharmacity

Series C in 2020
Pharmacity Pharmaceutical Joint Stock Company owns and operates drug stores in Vietnam. The company offers medicines; oriental medicines; functional food; health care and beauty products; food supplements, vitamins, and minerals; and family departmental products. It also sells products online. The company was founded in 2011 and is based in Ho Chi Minh City, Vietnam.

Yola

Private Equity Round in 2019
Yola, founded in 2009 and based in Ho Chi Minh City, Vietnam, is a prominent educational institution specializing in English language training. The organization offers a range of programs tailored for children, teenagers, and adults, including foundational English courses, test preparation for proficiency exams such as TOEFL, SAT, IELTS, SSAT, and GMAT, as well as junior English courses. Beyond language training, Yola provides soft-skill training, after-school tutoring, and summer camps, focusing on comprehensive educational development. The institution prioritizes personalized learning paths, ensuring that each student receives tailored guidance based on their abilities and goals. Yola also emphasizes monitoring students' progress to identify strengths and weaknesses, helping them to improve and achieve their academic aspirations effectively.
Founded and started operation since late 2014, Nhat Tin Logistics is a postal service provider, licensed under the Ministry of Information and Communications's License 138/GP-BTTTT. The firm provides domestic and international door-to-door delivery services for all types of goods, letters, mailings, parcels, scientific and technical documents, commercial documents, as well as other services such as shipment by road, railway, customs declaration, warehouse rental and warehousing, etc. At the same time, Nhat Tin Logistics is also the first unit implementing 100% free of charge COD at central 63/63 provinces to serve the transportation needs of e-commerce market in Vietnam. Being formed and operated by staffs who have more than 15 years of experience, were well trained in the field of express delivery, Nhat Tin Logistics always offer solution packages in time, meeting customers’ development and efficiency. With the motto of priotizing reputation, Nhat Tin Logistics aims at the trust and satisfaction of customers as well as bringing customers a difference in quality of service and economic benefits. Nhat Tin operates in a way “More than Logistics”, showing its desire to go beyond the framework of a service, bringing not only customers an option but also a commitment to build a better society.

Ben Thanh Jewelry

Venture Round in 2016
Founded in 1987, BTJ – a member of Ben Thanh Group – is one of the oldest companies in gold & gem stone retail in Vietnam. Seeing the huge potential in jewelry market in Vietnam, especially in design & customer experience, in 2016 the company recruited a group of professional managers from big jewelry markets and multinational companies to join BTJ’s management team to develop a new chain of fine jewelry retail. With the investment from MEF III, BTJ is building on its existing BTJ retail brand to launch a new chain of fine jewelry retail in Vietnam named PRECITA. With the launch of PRECITA brand, BTJ is looking forward to redefine industry standards of value to customers and product integrity. PRECITA focuses on beautiful designs imported from big jewelry markets & latest Western trends, together with exclusive local designs for local customer needs. PRECITA advantages come from the professional leadership team; the highly experienced international experts with many years in big jewelry markets; and long standing relationships with state-of-art international suppliers. The CEO of PRECITA is Ms. Shipra Jain with 16 years of jewelry retail & e-commerce experience.

Yola

Venture Round in 2016
Yola, founded in 2009 and based in Ho Chi Minh City, Vietnam, is a prominent educational institution specializing in English language training. The organization offers a range of programs tailored for children, teenagers, and adults, including foundational English courses, test preparation for proficiency exams such as TOEFL, SAT, IELTS, SSAT, and GMAT, as well as junior English courses. Beyond language training, Yola provides soft-skill training, after-school tutoring, and summer camps, focusing on comprehensive educational development. The institution prioritizes personalized learning paths, ensuring that each student receives tailored guidance based on their abilities and goals. Yola also emphasizes monitoring students' progress to identify strengths and weaknesses, helping them to improve and achieve their academic aspirations effectively.

Wrap & Roll

Venture Round in 2016
Geographically a stretch of land in S-letter shape, Vietnam boasts a rich cuisine with various raw materials and tastes, from Northern “tương bần”, shrimp paste to Central “mắm cá”, “tương hột” or Southern pure fish sauce made from anchovies in Phu Quoc region. The most important thing for a perfect dish comes from the poetic delight of refined sauces. At Wrap & Roll, they make their own sauces based on traditional recipes. They are the results of a process of discovering, collecting and filtering the quintessences of Vietnamese cuisine, which makes their homemade sauces the perfect comdiments to freshly prepared dishes at Wrap & Roll.

ABA Cooltrans

Venture Round in 2016
ABA Cooltrans is an integrated cold chain logistics provider in Vietnam. Its services include refrigerated transport, warehouse and storage, FMCG distribution, cold chain, value add, and delivery services, as well as supply chain solutions. The company was founded in 2008 and is based in Ho Chi Minh City, Vietnam.

F88

Venture Round in 2015
F88 Investment JSC, established in 2013 and headquartered in Viet Tri, Vietnam, specializes in providing mortgage loans through a professionalized pawn service model. The company has transformed traditional pawn services by offering fast, reliable, and customer-oriented financial solutions, catering to a wide range of collateral, including cars, motorcycles, mobile phones, and laptops. F88 distinguishes itself through a well-trained management team and a commitment to enhancing customer experiences, which has helped to reshape societal perceptions of the pawn industry. With a growing network of stores and a robust technological infrastructure, F88 delivers high-quality services that have garnered recognition, including the Gold Cup for reliable products and preferred brands in 2016 from leading intellectual property organizations in Vietnam.

AIG Asia Ingredients

Venture Round in 2011
AIG Asia Ingredients, also known as Asia Chemical Corporation, is a prominent distributor of specialty ingredients, chemicals, and commodities based in Ho Chi Minh City, Vietnam, with additional offices in Hanoi, Can Tho, and Singapore. Established in 2001, the company sources high-quality products from global suppliers and serves a diverse array of industries, including food and beverage, dairy, seafood, pharmaceuticals, cosmetics, and personal care. Its extensive product portfolio includes dairy commodities, food specialties, starches, flavors, pharmaceutical products, vitamins, preservatives, sweeteners, and various industrial materials. AIG Asia Ingredients also provides value-added services such as importing and distribution, global sourcing, and commercial and technical sales. The company is dedicated to meeting the needs of its clients across multiple sectors, ensuring a reliable supply of essential ingredients and compounds.

FPT Software

Venture Round in 2010
FPT Software – the Software Powerhouse - Vietnam’s largest and one of the fastest growing software outsourcing companies. - Over 6,000 software outsourcing projects and a total volume of 2.5 million man-days in the last 10 years. - A broad presence in diverse global markets. - Specialist in shaping world-class networks of global delivery centers.
Vietnam Australia International School offers -12 education programs to students in Ho Chi Minh City. It offers courses from kindergarten to lower secondary school. The company was founded in 2004 and is based in Ho Chi Minh, Vietnam.

Masan Food

Venture Round in 2009
Masan Food, the leading maker of branded sauce and seasoning products and a major player in the large instant noodles market.

Loc Troi Group

Venture Round in 2008
Loc Troi Group Joint-Stock Company, established in 1993 and formerly known as An Giang Plant Protection Joint Stock Company, operates in the agricultural sector in Vietnam. The company manufactures and distributes seeds and plant protection chemicals, processes rice for export, and provides packaging paper. It serves the agricultural industry through an extensive distribution network and has expanded its reach to international markets. Additionally, Loc Troi Group is involved in the tourism business and has established subsidiaries across Vietnam. Since its inception, the company has grown from a small operation with limited resources to a leading distributor in the agricultural industry.

Digiworld

Venture Round in 2008
Digiworld Corporation, founded in 1997 and headquartered in Ho Chi Minh City, Vietnam, operates as a leading market expansion services provider. The company specializes in trading a wide range of products, including technological software, computers, electronic accessories, telephones, and air conditioners. Additionally, Digiworld is involved in the transfer of information technology and automatic controls, offering consignment agency services and management consulting. With a robust distribution network comprising 16,000 points of sale nationwide, Digiworld has established itself as an authorized distributor for over 30 renowned global brands. The company focuses on delivering tailored solutions for market penetration and expansion, particularly in the information and communications technology sector, while also engaging in the healthcare and fast consumption industries.

Golden Gate JSC

Venture Round in 2008
Golden Gate Trade & Service JSC is a Vietnamese company that owns and operates a chain of restaurants across the country. Founded in 2005 and based in Hanoi, the company also offers franchising opportunities to expand its brand. In addition to its restaurant operations, Golden Gate has developed the Golden Spoon application, which facilitates bookings and provides discounts at various dining establishments.

Maison Joint Stock Company

Venture Round in 2008
Launched in 2002 by a brilliant fashion-addict couple, Maison Joint Stock Company (Maison) quickly became one of the largest fashion distributors in Vietnam. Maison has a strong history of introducing the most high-end and luxurious International fashion brands to Vietnam. Following the success of our very first store, Maison is now the home to more than 21 worldwide recognized brands with more to come in 2016. We are committed to bringing new and hot trends to town for our loyal fashion lovers to drown in an endless sense of style. Maison both spreads the luxurious-wearing culture as well as delivers a value driven, customer focused and responsible fashion base in our continued effort to make Vietnam a trendier place for all fashionistas.

Phu Nhuan Jewelry

Venture Round in 2008
Phu Nhuan Jewelry Joint Stock Company, founded in 1988 and headquartered in Ho Chi Minh City, Vietnam, specializes in the manufacturing, retailing, trading, importing, and exporting of gold, silver, jewelry, and gemstones. The company markets its products under several brands, including CAO Fine Jewellery, PNJ Gold Jewelry, PNJ Silver, and Jemma. In addition to jewelry, it offers fashion accessories and provides jewelry inspection and consultancy services. As of April 2020, Phu Nhuan Jewelry operated 349 jewelry stores and 33 PNJ Watch stores across Vietnam, and it also sells products online. The company has expanded its reach internationally, exporting products to 13 countries and territories.

MK Smart

Venture Round in 2007
MK Smart was established in January 24th 2003. MK Smart is a member of MK Group. With the aim of providing card solutions to life safety and civilization, MK Smart is the only company in Vietnam capable of producing EMV smart card and telecommunication SIM card, certified by the most prestigious international card organizations and proudly to be the trusted partner of more than 1,000 customers in domestic and international in different fields. MK Smart owns two factory of card and business form manufacturing park located in Quang Minh industrial zone, Me Linh, Hanoi and Ho Chi Minh City Hi-tech Zone, with a total investment of 300 billion dongs. MK Smart is a pioneer manufacturer of plastic card industry in Vietnam, typically smart card in finance sector; Telecom SIM card; Membership card; Gift Cards; Loyalty card; ID card; Scratch cards; Business form,… 2010 marked the turning point in the history of MK Smart when MK Smart was rewarded 3 international certificates of leading international producer of security and smart cards, including SAS, Visa,MasterCard and JCB. In particular, the SAS Certificate of GSMA is the highest security certificate for SIM card manufacturers of telecommunications and chip card. In 2013, MK Smart is also pleased to announce successfully earned SAS certificate in consecutive four years.

Traphaco

Venture Round in 2007
TRAPHACO has created a distinct, special and unmixable culture. Originating from the idea of “New technology and Traditional character” the culture has gone together with the enterprise through the development history. It is the behavioral culture among the members, the sharing and sympathies then the close linkage among the members. Moreover, it is the sharing of the belief in the value of enterprise among the members in the company. TRAPHACO culture has become the food for the mind, solidarity colloid, wonderful playing -field, encouragement and the pride of each member of the Company.

Venture International

Venture Round in 2007
Venture International (Vietnam) Joint Stock Company was founded in 1992 as a 100% foreign owned garment manufacturing company in Vietnam. From that time until now, Venture Vietnam has experienced a rapid and amazing growth in both revenue as well as production capacity. Venture Vietnam has steadily entrenched itself as a formidable entity in the international market for the production of garments, especially high quality work wears. In 2007, Venture Vietnam purchased Song Ha garment company and successfully signed the Mekong Company into the deal as a strategic investor. This significant step allowed the Company to expand its production capacity to subsequently include an additional two workshops – each designed with a specific product specialization production in mind – to bring the entire facility area to an increased size spanning 20,000 square meters.

The Gioi Di Dong

Venture Round in 2007
Vietnam's largest mobile phone retail chain, with 478 mobile phone stores and 37 large-format consumer electronics stores, and more than 20% market share nationwide.

Ngo Han joint stock company

Venture Round in 2007
Ngo Han Joint Stock Company is engaged in the manufacture and sale of electric cables in Vietnam. The company offers copper wires and rods, round bare copper wires, copper and aluminum enameled wires, paper wrapped rectangular copper wires, aluminum wires, and copper busbars as well as polyester and polyester-imide wires. The company is headquartered in Dong Nai Province, Vietnam.

International Consumer Products

Private Equity Round in 2006
International Consumer Products produces and trades cosmetics, cosmetic materials, and food products. It offers vegetable and fruit cleansing liquids; shampoos and fragrances under the X-Men and X-Men for Boss brand names; products for skin care, make-up, body care, and hair care under the L’OVITE brand name; and sauces and condiments under the Thuan Phat brand name. The company was founded in 2001 and is headquartered in Ho Chi Minh City, Vietnam.

Goldsun Joint Stock Company

Venture Round in 2005
Goldsun is one of the leading manufacturers of corrugated paper packaging and printing products in the North of Vietnam. Established in 1996 starting from a small factory, The Company developed step by step and then now acquired a very strong foothold in the printing line. With the target to fulfill increasingly diversified and high-demand market of high-end offset printing products, in 2010 The Company decided to invest the second factory with workshop area of 8,000m2 and expand the scale the company with the third factory in 2013 with workshop area of 5,000m2 in Quang Minh Industrial zone together with synchronized and modern manufacturing lines. With the vision of striving to be one-stop printing and packaging solution and gradually expand its business to overseas market, The Company focuses on employee development, operational and technology innovation, products diversification & service excellence.

Saigon Gas

Venture Round in 2005
Saigon Gas provides liquefied petroleum gas tank installation and maintenance services for industrial users.

Minh Hoang Garment JSC

Venture Round in 2005
Minh Hoang Garment Joint Stock Company produces garments in Vietnam. Its products include outer wear collection, sport wear collection, and casual wear collection for men, women, and children. The company was founded in 1992 and is headquartered in Ho Chi Minh City, Vietnam.

Duc Thanh Wood Processing

Venture Round in 2005
Established on May 19th, 1991, Duc Thanh is one of the leading manufactures in Vietnam specializing in producing kitchenware, household utensils and children’s wooden toys. Duc Thanh has achieved ISO 9001 : 2000 certificate, which makes sure that they can supply their customers the best products and services. With a labor force over 1000 skillful workers, modern equipment and machinery and diversified product range, Duc Thanh product has been exported to over 40 countries around the world and also distributed at many supermarkets and furniture shops nationwide.

Minh Phuc

Venture Round in 2004
Minh Phuc is the leading private company in Viet Nam specializing in printing paper-based packaging, aluminium foil, labels and envelopes. The high quality paper-based packaging, aluminium foil and labels manufactured by Minh Phuc are supplied for various industries such as pharmaceutical, tobacco, wine and beer, confectionery, processing agricultural and seafood products, and others. High quality envelopes, especially self-stick envelopes, manufactured by an automatic production line to service domestic demand, are the products that help establish the Minh Phuc brand in the market. Apart from supplying for domestic market, they also export their products to some countries in Asia and Middle East.

Nam Hoa

Venture Round in 2004
Nam Hoa Corp, founded in the 1990s by Mr. Ngo Van Hoa, specializes in the production of wooden toys and household appliances with a strong emphasis on educational value. Initially facing challenges due to limited infrastructure and capital, the company successfully expanded its market reach both domestically in Vietnam and internationally. Inspired by childhood memories and the growing demand for entertaining and educational products for children, Nam Hoa focuses on crafting high-quality, safe wooden toys. By investing in advanced production lines in 2000, the company established itself as a leading manufacturer of wooden toys in Vietnam. Utilizing environmentally friendly materials, Nam Hoa transforms wood into a diverse range of colorful and safe toys that promote learning and creativity among children.

Ngo Han joint stock company

Venture Round in 2004
Ngo Han Joint Stock Company is engaged in the manufacture and sale of electric cables in Vietnam. The company offers copper wires and rods, round bare copper wires, copper and aluminum enameled wires, paper wrapped rectangular copper wires, aluminum wires, and copper busbars as well as polyester and polyester-imide wires. The company is headquartered in Dong Nai Province, Vietnam.

Lac Viet Computing Corporation

Venture Round in 2003
Founded in 3rd Feb 1994, Lac Viet Corporation is a leading provider of IT products and services in Vietnam. They provide all types of software, hardware and services including: Software development; System integration, Online services with cloud based DC; Leasing and licensing by SaaS model; and System maintenance, BPM services. With thorough understanding of their client´s needs of market and professional deployment process (Quality Certified: CMMI Level 3, ISO 27001, ISO 9001:2008), Lac Viet commits to help clients accomplish more with added values from their solutions. Over 20 years, Lac Viet always follows the mission of building profitable information capital for organizations and people. With a dynamic and creative team of nearly 500 employees, Lac Viet is pioneer to bring you proactive and helpful solutions which improve efficiency and maximize your return on investment. Here are their typical best-in-class solutions: SureERP, SurePortal, AccNetC, SureHCS, SureLRN, E-Public Services solutions, and Dictionaries Lac Viet mtd… They are proud to offer IT products and services which are now becoming a trusted companion of many users from students, office employees to enterprises, education organizations as well as public sector.

Tan Dai Hung Plastics

Venture Round in 2003
Tan Dai Hung Plastic JSC (TPC) is engaged in the manufacture of polypropylene (PP) and polyethylene (PE) woven bags.

AA Corporation

Venture Round in 2003
AA Corporation offers architecture and interior designing services. The company provides project management, space designing, theme conceptualization, and special contractual services. Additionally, it offers furniture manufacturing and retailing services. AA Corporation was founded in 1990 and is based in Ho Chi Minh, Vietnam.