Private equity firm Mekong Capital has closed subscription for its new fund which is set to invest US$112 million into consumer-driven sectors in Vietnam over the next 10 years.
The Mekong Enterprise Fund III will target businesses such as retailers, restaurants and hospitality service providers, the company said in a statement.
The fund is expected to make 10-12 investments, each worth $8-15 million, in the first three years of operation, it said.
It is the fourth fund managed by Mekong Capital, which is known as a shareholder in mobile retailer The Gioi Di Dong (Mobile World) and Phu Nhuan Jewelry (PNJ), since its establishment in 2001.
Vietnam's retail and consumer services recorded a combined sales of more than VND1,138 trillion (US$50.31 billion) in the first four months, up 8.8 percent from a year ago, according to the General Statistics Office of Vietnam.