VinaCapital arm opens in Cambodia
VictoryCapital, a unit of VinaCapital Group, has launched in Phnom Penh with the aim of injecting $100 million into the country via a Cambodia-specific fund.
VictoryCapital will both manage its domestic investments in Cambodia and draw foreign investments into the country. According to the fund, VinaCapital's Singapore office will assist it in raising capital, and former Head of Corporate Affairs at ANZ Bank in Phnom Penh, Simon Luu, will assume the role of country manager. Investments will be broadly targeted, though sectors such as real estate, hospitality, infrastructure and agriculture will remain a focus.
Parent VinaCapital currently focuses on investments in the Mekong region, and has offices in Vietnam, Cambodia and Singapore. It claims to manage $1.7 billion in assets, predominantly in three funds traded on the LSE's AIM Market, according to the firm. It has raised funds from global investors including Temasek, Morgan Stanley, and European and Japanese pension funds and private banks.
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