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Mekong Capital fund invests in F88

Released at: 17:05, 10/01/2017

Mekong Capital fund invests in F88

Photo: Mekong Capital

Mekong Enterprise Fund III completes investment in professional pawn service provider.

by Linh San

Mekong Capital announced on January 10 that the Mekong Enterprise Fund III has completed an investment in the F88 Investment JSC.

F88 has established itself as a leading provider of professional pawn services in Hanoi since 2013, providing loans on collateral such as motor cars, motorcycles, mobile phones, and laptops. It now has 15 outlets in Hanoi.

“We are very proud and excited that F88 is the third investment we’ve announced for MEF III,” said Mr. Chris Freund, Partner of Mekong Capital. “F88’s competitive edge is its entrepreneurial co-founders, professional management team, IT infrastructure, and strong corporate governance.”

Mr. Freund declined to reveal the total investment capital but MEF III typically targets investments ranging from $6-15 million and can make both minority and buy-out investments.

He also explained that MEF III has invested in F88 at this time because it pioneered the professionalization of pawn services in Vietnam, bringing fast, reliable and professional financial solutions to consumers.

“We are excited and confident about this partnership,” said Mr. Phung Anh Tuan, Chairman and General Director of F88. “Mekong Capital becomes F88’s partner as we share common cultures and values with a long-term strategic vision. This combination helps us strengthen our management team, approach world’s best practice, and improve our service quality to prepare for rapid and sustainable growth.”

He added that F88 will expand to 300 outlets throughout the country by 2020 and expects to list on the stock market within the next five years.

“We believe that with Mekong Capital’s well-proven approach towards adding value, called Vision Driven Investing, and our extensive network of international experts and resources, F88 will continue to improve their operations and successfully execute an ambitious nationwide expansion plan,” Mr. Freund said. 

Established in 2001, Mekong Capital is a Vietnam-focused private equity firm with the most extensive track record in Vietnam. 

It commits substantial time and resources to adding value to the companies in which its funds invest and has played an important role in the success of many of its past investments.

Launched in May 2015, MEF III is a private equity fund and currently has $112.5 million in committed capital. It focuses on investments in Vietnamese consumer-driven businesses such as retail, restaurants, consumer products, and consumer services.

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