Standard Chartered PE invests $40m in Vietnam's N Kid

According to a statement, SCPE took a significant minority stake in the company. The capital will be used to roll out an expanded portfolio of family entertainment centers and retail outlets across Vietnam as well as grow distribution channels and develop new adjacent businesses. 

"We are privileged to partner with [N Kid co-founder Thomas] Ngo and his management team, who have done an outstanding job in building a platform that caters to the needs of young Vietnamese families," said Thuy Dropsey, a director at SCPE. "We look forward to supporting the team to accelerate its growth and presence across Vietnam, and to help achieve its long-term vision."

Founded in 2009, N Kid operates approximately 30 family entertainment centers as well as a retail and distribution business for branded toys and mother and baby products. This includes 20 retail outlets under the Toyland and Babyland brands across Vietnam.

The investment follows closely on the departure of Joe Stevens and the Bert Kwan, SCPE's CEO and head of Southeast Asian investment, respectively. The leadership shakeup coincided with reports that Standard Chartered was shutting down its captive PE unit, although the bank has disputed this claim. 

SCPE has been active in Southeast Asia recently, investing an estimated S$150-200 million ($105-140 million) in Singaporean food retailer Phoon Huat. Previous Vietnam-focused deals include a $28 million round alongside Goldman Sachs in mobile e-wallet platform provider M_Service and a $90 million commitment to agribusiness products supplier An Giang Plant Protection.

BDA Partners advised on the N Kid transaction.

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• Topics
• Southeast Asia
• Consumer
• Expansion
• Vietnam
• Standard Chartered Private Equity