In January 2018, Mekong Enterprise Fund II completed the sale of all of its shares in MobileWorld after a 10.5 year holding period. MobileWorld has established itself as Vietnam’s market leader in mobile device retail through its Thegioididong.com store network, and consumer electronics and household appliance retail under the DienmayXANH store network. The company is rapidly expanding its 3rd retail concept, mini-supermarket chain BachhoaXANH, in Ho Chi Minh City. The Fund originally invested in MobileWorld in May 2007 when the company operated around 7 stores. By the time the Fund completed its exit in January 2018, the company was operating more than 2,000 store locations. This tremendous growth led to a 57x return multiple for the fund over the lifetime of the investment.”

Mekong’s investment in MobileWorld is the subject of a 3-part case study written by National University of Singapore (NUS) and published in the Ivey Publishing case study catalogue in May 2018. The 3 cases are available at Ivey Publishing’s website at the following links: