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Tech startups? No thanks, says Vietnam's oldest investment fund

Mekong Capital prefers consumer companies in Southeast Asia's hottest private equity market

Mekong Capital invested in Pizza 4P’s, which is one of Vietnam's most popular restaurant chains. (Photo courtesy of Mekong Capital) 

TOKYO -- In another signal that investors are steering clear of the technology sector, Vietnam's first private equity manager is shying away from startups in one of Asia's hottest investment destinations and is doubling down on consumer-related companies instead.

Vietnam has seen a jump in deal making amid strong economic growth and jitters over the U.S.-China trade war. Private equity investment rose to a record $1.6 billion in 2018 from $418 million a year earlier, according to business intelligence service Bureau van Dijk. That figure dwarfed Vietnam's neighbors Malaysia and Thailand, and was only slightly less than Indonesia received.

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