Mekong Capital Closes Fifth Fund at $246 Million, Exceeds Target

Mekong Capital Ltd., a Vietnam-focused private equity firm, has closed its fifth fund at $246 million, exceeding a $200 million target, according to founder Chris Freund.

The Mekong Enterprise Fund IV, or MEF IV, will invest in consumer-driven sectors, continuing to focus on industries including retail, restaurants and education, Freund said in an interview Monday in Ho Chi Minh City.

The fifth fund, which expects to invest in eight companies this year, is now working on three deals that it expects to close by March-end. MEF IV targets deals ranging from $10-$35 million each, and can make both ...