According to a source from DealStreetAsia, the chain of stores selling mother and baby goods Con Cung has just become one of the rare Vietnamese startups which were capable of successfully raising an investment capital up to US$100 million.
Previously, EQuest Education Group received an investment of US$100 million from KKR, Pharmacity is also about to receive finance from SK Group. The estimated value of this investment is up to US$100 million and two parties have now been in the final rounds of negotiations.
It is known that the corporation that will pour capital into Con Cung is Quadria Capital, an independent healthcare-focused private equity firm, with US$1.6 billion in assets under management and investments made into 20 companies in the Asia-Pacific region.
The last time Quadria Capital invested in the Vietnamese market was in June 2017, when the fund invested in the FV hospital through the Quadria Capital Fund L.P. with the participation of Neuberger Berman Private Equity and German Investment & Development Corporation (DEG). Con Cung, a mother and baby products retailer, has seen rapid growth in the past few years.