Regional: REG: MEKONG ENTERPRISE FUND II

Nonsovereign Project | 40910-014

Summary

Mekong Enterprise Fund II (the Fund) was launched in June 2006. The Fund is the second fund managed by Mekong Capital, a fund management company operating from Ho Chi Minh City, Viet Nam. The Fund plays a key role in providing equity finance to private small and medium-sized enterprises (SMEs) and improving the corporate governance of its portfolio companies, thereby removing one of the main impediments to the development of the Mekong region's capital markets.

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Project Name REG: MEKONG ENTERPRISE FUND II
Project Number 40910-014
Borrower/Company MEKONG ENTERPRISE FUND II
Country Regional
Location Ho Chi Minh City
Approval Number 7231
Type or Modality of Assistance
7231 Investment Fund USD 10.00 million Committed
Strategic Agendas
Drivers of Change
Sector / Subsector Finance - Infrastructure finance and investment funds
Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Catherine C. Pacifico
Project Sponsor(s)
Description Mekong Enterprise Fund II (the Fund) was launched in June 2006. The Fund is the second fund managed by Mekong Capital, a fund management company operating from Ho Chi Minh City, Viet Nam. The Fund plays a key role in providing equity finance to private small and medium-sized enterprises (SMEs) and improving the corporate governance of its portfolio companies, thereby removing one of the main impediments to the development of the Mekong region's capital markets.
Objectives and Scope The Fund invests in private and equitized SMEs in Viet Nam, and in foreign companies with significant operations in Viet Nam. The Fund also has the ability to invest in companies domiciled in, or having significant operations in, Cambodia and Laos.
Linkage to Country/Regional Strategy The Fund will directly contribute to the implementation of the country strategy and program by catalyzing private investment in SMEs, diversifying financial channels, and improving SME governance.
Status of Development Objectives The Fund intends to (i) mobilize long-term capital in the form of private equity for SMEs; (ii) diversify sources of finance available for SMEs; (iii) improve SMEs' competitiveness by introducing best practices; (iv) improve the transparency and corporate governance of SMEs; and (v) create sustainable employment of the SME sector in Vietnam.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects All companies in which the Fund invests is required to comply with national environmental laws and regulations as well as ADB's environmental and social safeguard policies (if required). The Fund has developed and implemented an environmental management system.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 03 Feb 2006
Due Diligence 17 Jan 2006
Credit Committee Meeting -
Approval 31 May 2006
PDS Creation Date 22 Feb 2006
Last PDS Update 24 Sep 2014
Title Document Type Document Date
Proposed Equity Investment in the Mekong Enterprise Fund II Reports and Recommendations of the President Apr 2006

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