Daiwa invests in Vietnam health firm via new venture fund
SINGAPORE, NNA - Major Japanese brokerage Daiwa Securities Group Inc. has purchased 63.7 percent stake in a health company in Vietnam via a new Daiwa-affiliated venture fund.
The 5 billion yen ($46 million) fund seeks to invest further in promising firms particularly in Singapore, Indonesia and Vietnam, the Tokyo-based company said in a statement Tuesday.
The fund, Daiwa ACA Apac Growth LP, was established by the wholly-owned subsidiary of Daiwa's Singaporean partner, ACA Investments Pte. Ltd., registered in the Cayman Islands.
In its first investment, the fund made a capital injection into Ha Van Education & Healthcare Jsc, a Hanoi-based company offering medical checkup outsourcing services to more than 300 companies.
Daiwa also plans to provide the Vietnamese firm with human network and management know-how, the statement said.
In October 2018, Daiwa bought a 34 percent stake in ACA Investments, signing a partnership contract. (NNA/Kyodo)