Vietnam equity firm ABB seeks $100M for 2nd fund

By Dat Nguyen January 6, 2023 | 05:11 pm PT

An employee counts Vietnamese banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy

Vietnam’s private equity company ABB is seeking to raise $100 million for its second fund in the second half this year.

ABB, which is associated with local investment banking company Asia Business Builders, launched its first $20 million PE fund in 2018, which has now fully invested, according to DealStreetAsia.

The second vehicle will continue to back growing Vietnamese small and midsize enterprises (SMEs) that are already making money or substantial revenue, said Peter Sorensen, co-founder and managing partner at ABB.

ABB has invested in local SMEs such as DTP Education Solutions, retail pharmacy chain Trung Son Care, industrial services provider Care Solutions, KA Logistics and smart-living platform Aplus Home.