Mekong invests in Vietnamese chemical distributor
Mekong Capital has purchased an undisclosed stake in Vietnamese specialty chemical distribution firm Asia Chemical Corporation for $3.4 million - capital invested from the PE firm’s Mekong Enterprise Fund II Ltd. (MEF II)
According to Mekong, this is the "tenth and final investment of MEF II" since the $50 million fund launched in June 2006. It targets unlisted Vietnamese companies, and has offloaded two companies via sale to date.
Asia Chemical Corporation distributes specialty ingredients, chemicals and commodities to industries such as food and beverage, pharmaceutical, veterinary, personal care and cosmetics.
The news comes weeks after Mekong exited its stake in Minh Phuc Printing and Packaging Company to an unnamed domestic investor, its fourth divestment from its $18.5 million Mekong Enterprise Fund.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.