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Tag: Standard Chartered Private Equity

  • Vietnam payment platform wins PE funds

    Vietnam payment platform wins PE funds

    A Vietnam payment platform start-up has received a US$28 million shot in the arm from private equity investors.

    M_Service, which launched the mobile e-wallet MoMo, received the boost from Standard Chartered Private Equity (SCPE), which invested $25 million, and existing shareholder and strategic investor Goldman Sachs, which added $3 million to its initial $5.75 million investment of 2013.

    More than half of Vietnam’s population of 90 million use the internet, and the app provides a useful service in a country where there are few debit or credit card users. Government data shows that mobile phone subscribers in Vietnam grew 26 per cent to 124 million during 2009-2013..

    Smartphone app MoMo provides eWallet services and over-the-counter remittance and payment platforms for a customer base of 2.5 million people, and already claims to have more than 1 million customers.

    “It is extremely exciting to see financial support and the customer base for MoMo growing,” says M_Service general director Pham Thanh Duc.

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  • PE invests in Crystal Jade expansion

    PE invests in Crystal Jade expansion

    Standard Chartered Private Equity has invested in Crystal Jade Group to help Louis Vuitton accelerate the restaurant group’s Asian expansion.

    Crystal Jade operates over 100 outlets ranging from fine dining, casual and specialty restaurants to bakeries across the Asia Pacific region with a primary focus in Singapore, Hong Kong and Mainland China. Established in the early 1990s, it has become a household name in Chinese cuisine.

    SCPE has invested US$52 million in the business, joining Louis Vuitton’s investment arm L Capital Asia on the shareholder’s register.

    The investment will primarily go towards funding the growth of Crystal Jade’s existing network of outlets across Asia, as well as the expansion of its footprint internationally.

    Ravi Thakran, managing partner of L Capital Asia, said the two investors already have a track record of successful investment partnerships.

    “Their investment will further strengthen the resources available to allow full exploitation of the tremendous growth opportunity for Crystal Jade.”

    Nainesh Jaisingh, global co-head of private equity at SCPE, said Crystal Jade is an exciting business, with a strong Asian brand and significant potential across Standard Chartered’s footprint.

    “We… look forward to building a great company together.”

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