Shinhan Vietnam Bank Signs MOU with Mekong Capital

At the headquarters of Mekong Capital in Ho Chi Minh City, Vietnam, Shin Dong-min, Head of Shinhan Vietnam Bank (right), and Chris Proud, CEO of Mekong Capital, are posing for a commemorative photo during the business agreement ceremony. Photo by Shinhan Bank

[Asia Economy Reporter Kim Min-young] Shinhan Bank's local subsidiary in Vietnam, Shinhan Vietnam Bank, announced on the 24th that it has signed a Memorandum of Understanding (MOU) with Mekong Capital, Vietnam's first private equity fund management company.

Mekong Capital, established in 2001, is a private equity fund management company that has invested in Vietnam's high-growth consumer goods market, including refrigerated distribution, pharmacy chains, and educational institutions. It is preparing to raise a new fund (MEF IV) worth $250 million.

Through this agreement, Shinhan Vietnam Bank plans to ▲ participate as a limited partner (LP) in the newly raised fund (MEF IV) by Mekong Capital, ▲ provide fund custody services, and ▲ promote new businesses through comprehensive mutual cooperation with Mekong Capital, including loans to investee companies.

A Shinhan Vietnam Bank official said, “Through organic collaboration between Shinhan Bank's global group and the GIB group, we will explore various investment opportunities in local Vietnamese companies, and at the same time, strengthen our local corporate finance entry strategy by establishing strategic partnerships with local fund managers who have operational capabilities and reputations.”