Mekong Capital Invests in Mobile World

Mekong Capital says that it has committed to invest up to US$4.5 million in the Vietnamese mobile phone retail outlet, Mobile World. The retailer currently operates eight outlets, including one laptop retail outlet, and one service center in Ho Chi Minh City. Mobile World was founded in 2004 currently employs over 400 employees.

Mr. Nguyen Duc Tai, the co-founder and Managing Director of Mobile World said: "After only 2 years of operation, Mobile World has been able to become one of the leading mobile phone retailers in Vietnam with around 20% market share in Ho Chi Minh City. Mobile World chose the Mekong Enterprise Fund II as a strategic partner thanks to the intangible added value that the Fund can offer. Mobile World has found a mutual understanding and trust while working with the Fund. The company believes that it will achieve the growth targets with the assistance from the Fund."

Mr. Chris Freund, Managing Director of Mekong Capital said: "We are very excited about the Fund's investment in Mobile World. This is one of the most impressive companies we met in Vietnam in terms of the strategic vision of the senior management team, their ability to execute on their expansion plans and to rapidly make improvements within the company. Mobile World's management systems are substantially more systematic and advanced than most other companies we have met. In the fragmented yet fast-growing marketing for mobile phone retail in Vietnam, we expect Mobile World will continue to emerge as the leading player."

The US$50 million Mekong Enterprise Fund II is a private equity fund focusing on equity investments in unlisted companies, which at the time of the original investment, are typically about two-to-four years away from a listing on one of Vietnam's stock exchanges.

Note, cellular-news regularly cites statistical figures from a company called The Mobile World, which is a UK based firm and has no relationship with the Vietnamese phone retailer."

Posted to the site on 29th May 2007