Mekong Capital


Mekong Capital is a Vietnam-focused private equity firm. Operating in Vietnam since 2001, Mekong Capital is one of the first private equity firms to engage Vietnam, and has completed 32 private equity investments in Vietnam through 4 funds with more than 30 full-time employees. Mekong Capital has offices in Ho Chi Minh City, Hanoi. Focusing on manufacturing companies until 2005, Mekong Capital shifted its focus towards consumer-driven businesses in 2006. Mekong Capital is known as a private equity firm that has invested significant resources in the development of its corporate culture, and in the corporate cultures of its portfolio companies, and is the subject of several case studies.
Mekong Capital won Private Equity International's awards for five years in a row, including Operational Improvement Award for Asian Small Caps for 2013, Frontier Market Firm of the year for 2014, Operational Excellence Award 2015 for the Asia-Pacific Small Cap Category, Frontier Market Firm of the year in Asia for 2016, and Operational Excellence for a small cap investment in Asia for 2017.
Mekong Capital was founded by Chris Freund in 2001. Chris Freund was formerly with Templeton Asset Management, based in Vietnam and Singapore, from 1995 to 2001.
Some of Mekong Capital's well known investments include:
By January 2018, Mekong Capital has achieved 24 complete exits of investments that were unlisted at the time of the original investment: Tan Dai Hung Plastic, Duc Thanh Wood Processing, Saigon Gas, Mai Son Retail, Masan Consumer, Minh Phuc Printing, International Consumption Products, AA Corporation, Goldsun JSC, Lac Viet Computing Corporation, Nam Hoa Wooden Toys, Digiworld, MK Smart, Ngo Han; Venture International, Golden Gate, FPT Corporation, Nam Long, Intresco, Vietnam Australia International School, Phu Nhuan Jewelry, Loc Troi Group, Traphaco and The Gioi Di Dong.
Mekong Capital's Divestment HistoryI
Exit Route2008200920102011201220132014201620172018
Trade sale of controlling interest of company to a strategic investorSaigon GasICPVenture International
Sale of 100% of Fund's shares in a directly negotiated transactionDuc ThanhMai SonMinh Phuc; AA CorporationGoldsun; Lac Viet; Nam HoaDigiworld; MK SmartGolden GateLoc Troi; Traphaco
Sale of Fund's shares via securities marketsTan Dai HungMasan FoodNgo Han; MobileWorldMobileWorldFPT; Nam Long; Intresco; MobileWorld; PNJIIPNJMobileWorld

IIncludes only investments that were unlisted at time of Fund's initial investment

IIPartial exit
Mekong Capital is holding several other investments in companies that were unlisted at the time of the original investment and are now listed: Traphaco, Phu Nhuan Jewelry, Intresco and MobileWorld.

Funds

Vision Driven Investing is a private equity value creation framework which applies best practices from Private Equity, Executive Coaching, Leadership Development, Corporate Transformation and Change Management in a Private Equity context.
The framework involves aligning around a shared vision with investee companies, subsequently aligning around a business plan with clear milestones and measurable targets for achieving that vision, actively tracking progress against those milestones, and partnering with the investee company to execute the plan in a way that the company is empowered to achieve the vision regardless of the obstacles encountered.
Mekong Capital’s application of Vision Driven Investing is featured in a case study by Harvard Business School entitled , as well as a case study by London Business School entitled .