Our first shift towards the consumer sector began.
ICP’s most famous brand: X-men
Based on our experience in Mekong Enterprise Fund, we started to shift our focus towards the consumer sector with Mekong Enterprise Fund II (MEF II), which was launched in June 2006 with $50 million in committed capital.
Starting with our first investment, International Consumer Products (ICP), we partnered with two enthusiastic entrepreneurs, backed by international experience, and we found it was so easy to work with them. Since then, we have preferred to invest in consumer businesses, but it was not exclusively consumer-focused.
Thus, although we still had some non-consumer investments, the Fund had represented a shift in Mekong Capital’s focus to consumer-oriented business and a newer generation of Vietnamese entrepreneurs with a strong commitment to managing companies based on best practices. Between 2006 and 2011, MEF II made a total of 10 investments.