Growth Fund II LP raises almost US$40 million
Growth Fund II LP raises almost US$40 million
The SSI Asset Management Company announced on Monday it had raised US$39.4 million for its DAIWA-SSIAM Vietnam Growth Fund II L.P from both foreign and local investors.
A portion also came from the Saigon Securities Inc. and Japan's Daiwa Corporate Investment, the joint managers of the fund.
The private equity fund targets enterprises in manufacturing, services, consumer goods, agriculture, and seafood, which are thought to have great potential thanks to the country's high rate of young people, increasing middle class, rapid urbanisation and Viet Nam's global integration.
It also considers opportunities in the divestment of State-owned enterprises and equitisation, where it seeks to buy 10-30 per cent stakes in companies.
The two partners had set up their first Vietnam Growth Fund in 2009 and successfully sold their stakes in all the companies they invested in.
