... and here's one fund from that should be up and running during 2007:
Vietnam Fund
London Asia has entered into a memorandum of understanding with Vietcombank Fund Management (“VCBF”) to launch a fund for investment in Vietnam. VCBF is a Vietnamese Government licensed fund management business, which is a joint venture between the Bank for Foreign Trade of Vietnam (“Vietcombank), a leading bank in Vietnam, and Singapore incorporated Viet Capital Holding (“VCH”). It already manages one of the first on-shore funds for investment in Vietnam. The VCBF team, headed by Dr LIM Boh Soon, has significant experience of investing in South East Asia, and consists of professionals from Rothschilds, UBS, VCB, UOB, and KPMG.
The proposed fund will focus on seeking capital growth via investment in pre-IPO opportunities and late stage companies in Vietnam. It will be jointly managed by London Asia and VCBF, with VCBF providing access to deal flow and local due diligence, and London Asia providing its expertise in exiting and financing Asian investments through international markets.
The Fund will invest in Vietnamese businesses which are being privatised as part of the Vietnam governments move to a more market economy, and businesses looking to list on capital markets worldwide. The manager will seek businesses, whose products and services will benefit from Vietnam’s economic growth, increasing wealth and anticipated entry into the World Trade Organisation later this year. Vietnam has a young, well-educated, skilled and motivated work force and low operating costs.
