Mekong Capital announced that the Mekong Enterprise Fund III (“MEF III”) completed an investment in mattress and bedding solution provider Vua Nem Joint Stock Company.
“We are excited about this partnership with Mekong Capital. They are the leading private equity firm in Vietnam who has a strong track record of investing in top retailing companies such as MobileWorld and Phu Nhuan Jewelry. Our vision is to become the biggest retailer for mattress and bedding products in the country. Thanks to the partnership with Mekong Capital, we have had access to the value creation framework Vision Driven Investing and best practices in the retail industry.” Vua Nem founder and CEO Hoang Tuan Anh said in an announcement.
Ms. Nguyen Thu Thuy, Mekong Capital’s Deal Leader for Vua Nem, commented: “What makes us confident in this investment is the founders’ openness to building up the management team. The team today is far from where we first met. This team will be able to take Vua Nem to become the biggest and most trusted expert in providing sleep products and solutions to local customers.”
The investment by MEF III will facilitate Vua Nem to merge its 2 brands Dem.vn and Vuanem.vn into 1 single brand Vua Nem, build a whole new e-commerce website, as well as to expand the company network to 300 stores across the country by 2022. The company currently operates 40 stores in 23 cities and provinces.
Mr. Tuan Anh added: “We aim to train our staff as outstanding consultants in sleep solutions. Vua Nem has a distinguishable corporate culture of valuing customers as the center of our operations.”
About Vua Nem JSC
Vua Nem was founded in 2007 by two Vietnamese entrepreneurs, Hoang Tuan Anh and Nguyen Vu Nghia, who had a strong belief in the model of American company Mattress.com. They bought a domain at Dem.vn, which until recently was one of the two brands the company had been operating, before merging to be Vua Nem.
Unlike other mattress retailers in Vietnam which are showrooms for a single brand, Vua Nem provides a wide range of products from many brands, in order to have the perfect solution for each customer.
To date, Vua Nem has 40 stores in 23 cities and provinces of Vietnam, including Hanoi, Ho Chi Minh City, Hai Phong and Da Nang. The company targets to expand its network to 300 stores by 2022.
Vua Nem is the seventh investee company announced by MEF III.
For more information about Vua Nem, please visit the company’s website at www.vuanem.com.
About Mekong Enterprise Fund III
Established in 2001, Mekong Capital is a Vietnam-focused Private Equity firm, which has the most extensive private equity track record in Vietnam. Mekong Capital’s investee companies are typically among the fastest growing and market leading companies in Vietnam’s consumer-driven sectors such as retail, restaurants, consumer products and distribution.
Mekong Capital 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. MEF III focuses on investments in Vietnamese consumer-driven businesses such as retail, restaurants, consumer products, and consumer services.
MEF III typically targets investments ranging from $8 to $15 million, and makes both minority and buy-out investments.
MEF III applies Mekong Capital’s well proven approach towards adding value as a shareholder, which is grounded in the Vision Driven Investing framework and Mekong Capital’s extensive network of international experts and resources.
For more information about Mekong Capital and MEF III, please visit www.mekongcapital.com.