Swedfund invests $15 million in Excelsior Capital Vietnam Fund II

Vietnam has made strong progress in reducing poverty and growing its economy. However, it still faces challenges, including the need for more funding to build infrastructure, support small businesses, and ensure increased access to financial and other services.

The Vietnamese banking system is still in an early stage of development with limited long-term financing capabilities, especially for small- and medium-sized enterprises (SMEs). The young population, around 70 per cent is between 15 and 64 years old, and expanding middle class is fuelling an emerging entrepreneurial culture. SMEs constitute 98 per cent of registered companies in the country.

"With our investment in Excelsior II, we increase access to capital for mid-size and growing businesses. This strengthens the Vietnamese private sector and contributes to creation of quality jobs, improved industry standards, and to increased women participation in the workforce, and in leading positions. Moreover, it contributes to increased participation in the formal economy, in a country where 65 per cent of the workforce operate in the informal economy. In this way, Swedfund’s investment supports a more sustainable and resilient economy," said Sofia Gedeon, investment director for sustainable enterprises at Swedfund.

Excelsior II provides growth capital to mid-sized companies and will contribute to job creation in sectors like retail, manufacturing, healthcare, education, and tech. As a fund aligned with the 2X Challenge framework, Excelsior II is committed to enhancing opportunities for women and promote their participation in Vietnam’s formal economy.

A funding agreement was signed on June 12, during the Vietnam-Sweden Business Forum held during the official visit of Prime Minister Pham Minh Chinh to Sweden, to support a new scheme aimed at exploring advanced solutions to improve air traffic management in Vietnam.

Excelsior Capital Vietnam Partners, LP (ECVP) has recently announced its investment in Khoi Nguyen Investment and Education Development JSC, which four kindergarten to grade 12 (K-12) schools in Ho Chi Minh City.

Excelsior Capital Vietnam Partners, a private investment fund under Excelsior Asia Capital of Switzerland headquartered in Hong Kong, is poised to finalise its interest in male grooming chain 30Shine, according to insider sources disclosed by DealStreetAsia.