New funds set up

Louis Nguyen, Deputy Managing Director of AlphaCapital investment fund management company, said that AlphaCapital had officially launched two new funds which will specialise in injecting money in OTC shares, and real estate projects. Each of the funds owns $40mil in the first stage of operation, and the figure will rise to $100mil in the next stage.

Though having just finished the first stage of the fund raising, the OTC securities fund of AlphaCapital already has many addresses to make investment in, including promising private owned companies.

According to Louis Nguyen, though the commodities on the bourse are plentiful, the fund mainly eyes OTC shares. He said that the official market would not see sharp growth any more; therefore, AlphaCapital needs to change its strategy. It will eye projects in initial stages of development instead of mature companies, because it seeks big profit.

Meanwhile, AlphaCapital’s real estate fund is ‘hunting’ land plots that have been granted ‘red book’, and it intends to cooperate with domestic construction firms to build and develop hotels, resorts and roads.

VinaCapital launched the Vietnam Infrastructure Fund at the end of August. It has the total capital of $402mil, and it has disbursed $60mil so far. Currently, VinaCapital continues mobilising more foreign funds for VOF, which specialises in securities and real estate. Andy Ho, Managing Director of VinaCapital, said that the fund would be closed on November 14, after that the investment portfolio would be drawn up.

Busy in the disbursement season

While a lot of new investment funds have been set up, big operational funds are trying to disburse their money.

Nguyen Tuan Thien An, Managing Director of Mekong Fund II, belonging to Mekong Capital, said that the newest fund of Mekong Capital, Vietnam Azalea Fund, which was launched in June 2007 with the capital of $100mil, has been injecting money in unlisted companies and equitised companies with $5-10mil for each project.

According to Mr An, Mekong Capital’s funds had abundance of capital, and are waiting for new opportunities to disburse money.

Duong Thu Huong, IDG Public Relations Director, also said that it was now the right time for IDG to disburse money to several companies. In later October, IDG announced investment in CyVee, the 18^th in the investment portfolio of IDG.

Prior to that, in mid October, IDG announced the big investment in CV Corporation. It will announce two investment deals in two IT companies in mid November, and according to Mrs Huong, the plan to open a new fund has been drawn up for 2008.

Source: DTCK