Vietnamese private equity firms might deploy more capital in 2024

Slowdown this year reflects more selective global trends in assessing deals

20231218 The new Ho Chi Minh city skyline

The Ho Chi Minh city skyline. The IMF projects Vietnam to be one of the 20 fastest-growing economies globally in 2024. © Getty Images

NGUYEN THI BICH NGOC, DealStreetAsia

December 20, 2023 14:19 JST

HANOI -- In sync with global trends, Vietnam's private equity activity slowed in 2023 as turbulent times made investors selective in assessing new deals. But some PE firms expect increased opportunities next year.

In their heyday, Vietnam-focused PE firms made two to three new investments a year. In 2023, only Excelsior Capital Vietnam Partners and VinaCapital's Vietnam Opportunity Fund have made one new investment each, while Mekong Capital has done two follow-on transactions in current portfolio companies.