Mekong Capital partially exits restaurant owner Golden Gate
Vietnam-based Mekong Capital has partially exited its stake in hotpot restaurant operator Golden Gate Joint Stock Company, seeing a 3.6x return on its less-than three-year-old investment.
The firm, which backed the chain owner from its Mekong Enterprise Fund II in April 2008, additionally reported an IRR of 72.2% on its undisclosed investment. According to Mekong Capital, five-year-old Golden Gate Joint Stock Company owns a six-restaurant chain of mushroom hotpot venues in Vietnam under the Ashima brand in Hanoi and Ho Chi Minh City. Last year it expanded its operations to launch the express chain Kichi Kichi, which has now grown to 30 locations in Vietnam and Singapore.
In June, Mekong Capital also exited its two-year-old stake in Vietnamese luxury fashion retailer Mai Son Joint Stock Company for an undisclosed amount. That investment was also managed under the $50 million Mekong Enterprise Fund II.
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