Vietnam's Mekong backs logistics business, adds two partners

Founded in 2008 as a temperature-controlled transport provider, ABA entered the cold storage business this year through the acquisition of a facility in Hanoi with capacity for around 12,000 pallets. The plan is to provide integrated cold chain services covering transportation, delivery and distribution.

ABA handles pharmaceuticals, meat, fruit and vegetables, dairy products and frozen goods, while its customers include Big C, VinMart, Metro, Unilever, and Bel Vietnam, according to a statement.

Mekong closed its fourth vehicle - Mekong Enterprise Fund III - at $112 million in May. Though short of the $150 million target, the fund is more than twice the size of its predecessor, raised in 2006. The increase in size partly reflects a change in the mandate to include control as well as minority deals, although check sizes will be in the relatively modest $8-15 million range.

The first deal was a $6.9 million commitment to Wrap & Roll, a Vietnamese cuisine restaurant operator aiming to expand internationally.

Pham joined Mekong in 2007 and is responsible for investments such as Phu Nhuan Jewelry and Vietnam Australia International School. She was also deal leader for ICP and DigiWorld, both of which have been exited. Pham sits on the investment recommendation committee alongside the two incumbent partners, Chris Freund and Chad Ovell.

Le has been with the firm since 2003 and leads the operations team, which was set up in 2006. The 12-member team handles finance, back office, governance and investor relations issues.

Mekong was founded by Freund in 2001 and now has more than 25 people based in Ho Chi Minh City and Hanoi.

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• Topics
• Southeast Asia
• Support services
• Expansion
• People
• Vietnam
• Mekong Capital
• Appointments
• Growth capital
• Logistics
• Transportation