Lombard targets $250m for fifth Asia fund

The International Finance Corporation (IFC) has proposed an investment of up to $30 million in the vehicle, according to a statement. This could be extended with a further $30 million in co-investment commitments.

Lombard raised $350 million for its fourth fund in 2013, with IFC contributing $25 million. Lombard and IFC also previously teamed up by co-launching the $250 million Thailand Equity Fund. Lombard’s LP base has historically comprised development financial institutions, pension funds, and family offices.

The new fund will take primarily minority stakes in 10-13 established companies, writing checks of $10-30 million. About half of these companies will be Thailand-based, with the rest in Cambodia, Laos, Myanmar, and Vietnam. Focus sectors will include consumer services, outsourcing services, food and beverages, childcare and healthcare facilities, hotels, and e-commerce.

Lombard operates via offices Bangkok, Ho Chi Minh City, Hong Kong, and San Francisco. The firm has made more than 100 minority and control investments in Southeast Asia and North America since its inception in 1985. Current portfolio standouts include omnichannel fashion retailer Pomelo, which raised $52 million last year in a round touted as the first-ever Series C for a Thai start-up.

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• Topics
• Southeast Asia
• Fundraising
• Growth
• Thailand
• Lombard Investments
• IFC