Mekong Enterprise Fund III completed an investment in Ben Thanh Jewelry
Ho Chi Minh City, Vietnam (05 May 2017) – Mekong Capital announced that the Mekong Enterprise Fund III (“MEF III”) has committed to invest US$7,600,000 in Ben Thanh Jewelry (“BTJ”). This is the fourth investment announced for MEF III. With the investment from MEF III, BTJ is building on its existing BTJ retail brand to launch a new chain of fine jewelry retail in Vietnam named PRECITA.
Ms. Shipra Jain, CEO of BTJ, said:
“BTJ used to be a 100% state-owned company specializing in manufacturing, processing, importing, and exporting jewelry. After its equitization in 2003, it has achieved great progress and now choosing MEF III as a strategic investor because of the added value that the Fund and its management company, Mekong Capital, will bring to our company. Looking at some of the successful investments Mekong Capital has had in the past, we are very positive that this relationship will bring a new beginning for BTJ and take it to the new horizons of success and growth.”
Mr. Chris Freund, Partner of Mekong Capital, said:
“We are very excited about the Fund’s investment in BTJ, one of oldest companies in gold and gemstone retail in Vietnam. The company’s competitive edge is dedicated and professional management team with experienced international and local experts. We believe that with Mekong Capital’s well-proven approach towards adding value as a shareholder, called “Vision Driven Investing”, and extensive network of international experts and resources, BTJ will improve their operations and deploying best international practices.”
With the launch of the PRECITA brand, BTJ is looking forward to redefining industry standards of value to customers and product integrity. PRECITA focuses on beautiful designs imported from big jewelry markets & the latest Western trends, together with exclusive local designs for local customer needs.
About Ben Thanh Jewelry and PRECITA
Founded in 1987, BTJ – a member of Ben Thanh Group – is one of the oldest companies in gold & gemstone retail in Vietnam. Seeing the huge potential in the jewelry market in Vietnam, especially in design & customer experience, in 2016 the company recruited a group of professional managers from big jewelry markets and multinational companies to join BTJ’s management team to develop a new chain of fine jewelry retail named PRECITA. Through PRECITA’s beautiful pieces of jewelry, BTJ will rekindle and celebrate love.
PRECITA commits to quality, integrity & exquisitely designed jewelry to make the jewelry buying process a memorable experience for customers, who want to embrace their love. In every piece of PRECITA jewelry, our customers will carry a little piece of their hearts of their loved ones. PRECITA’s advantages come from the professional leadership team; the highly experienced international experts with many years in big jewelry markets; and long-standing relationships with state-of-art international suppliers. The CEO of PRECITA is Ms. Shipra Jain with 16 years of jewelry retail & e-commerce experience.
About Mekong Capital & MEF 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 add 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 typically targets investments ranging from $6-15 million and can make both minority and buy-out investments. MEF III focuses on investments in Vietnamese consumer-driven businesses such as retail, restaurants, consumer products, and consumer services.
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.