HCMC-based NextBold Capital eyes $100 mln fund to back SMEs in Vietnam, Cambodia, Laos

NextBold Capital, a Ho Chi Minh City-based private equity firm, is raising its first fund with an intended size of $100 million to invest in small and medium enterprises (SMEs) across Vietnam, Cambodia, and Laos.

NextBold Capital's inaugural fund has seen its fundraising efforts ramp up this year, with a flurry of interest from investors, the firm said in a statement.

It has gained early recognition in the form of shortlisting as a “must-watch” Emerging Private Equity Manager for Asia-Pacific at SuperReturn Asia 2024, one of the world's leading private equity and venture capital conferences.

With the fund, the firm plans to invest in businesses across education, healthcare, consumer goods, technology, and agribusiness in Vietnam, Cambodia, and Laos.

The fund has started mapping the market in several sectors including education and healthcare, with pre-funding deals already in motion.

"We're incredibly excited about the deals we've already lined up. Our early investments are targeting companies with strong business fundamentals in fast-growing markets, where we see clear potential for sector dominance with the right operational support," said Pedro Baliza, managing partner.

NextBold Capital's strategy encompasses targeting SMEs in key urban centers across Vietnam, Cambodia, and Laos, the three markets experiencing rapid growth thanks to a rising middle class, strong entrepreneurial cultures, and increased foreign investment.

“These markets are still underserved by global investors, particularly in the SME space. We see enormous potential for value creation by bringing in the right mix of capital and operational support," said managing partner Sjoerd Zwinkels, former investment director at Mekong Capital – a leading asset management firm in Vietnam.

After making investments, NextBold Capital works on the ground with portfolio companies to implement governance, drive revenue growth, and improve operational efficiency.