Although the investment value has not been disclosed yet, the Mekong Enterprise Fund III, a subsidiary of Mekong Capital, typically targets investments ranging from $8 to $15 million to make both minority and buy-out investments.
Mekong Capital announced that Mekong Enterprise Fund III (MEF III) had completed an investment in mattress and bedding solution provider Vua Nem Joint Stock Company (Mattress King JSC).
According to MEF III, the investment will facilitate Vua Nem to merge its two brands Dem.vn and Vuanem.vn into one single brand Vua Nem, build a whole new e-commerce website, as well as expand the company network to 300 stores across the country by 2022.
“What makes us confident in this investment is the founders’ openness to building up the management team,” Nguyen Thu Thuy, Mekong Capital’s Deal Leader for Vua Nem, commented.
“The team today is far from where we first met. This team will be able to take Vua Nem to become the biggest and most trusted expert in providing sleep products and solutions to local customers,” she said.
Hoang Tuan Anh, Founder and CEO of Vua Nem, said: “We aim to train our staff as outstanding consultants in sleep solutions. Vua Nem has a distinguishable corporate culture of valuing customers as the center of our operations.”
“Our vision is to become the biggest retailer for mattress and bedding products in the country. Thanks to the partnership with Mekong Capital, we have had access to the value creation framework 'Vision Driven Investing' and best practices in the retail industry,” Anh emphasized.
Vua Nems is Vietnam’s largest retailer distributing various products of blanket, bed sheet, pillow and mattress. To date, Vua Nem has 40 stores in 23 cities and provinces of Vietnam, including Hanoi, Ho Chi Minh City, Hai Phong and Da Nang.
Founded in 2007 by two Vietnamese entrepreneurs, Hoang Tuan Anh and Nguyen Vu Nghia, who had a strong belief in the model of American company Mattress.com.
Initially, they bought a domain at Dem.vn, which until recently was one of the two brands the company had been operating, before merging to be Vua Nem.
Unlike other mattress retailers in Vietnam which are showrooms for a single brand, Vua Nem provides a wide range of products from many brands.
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