Investment Division·Medium-termPlanned
Growth Stakes with Governance Rights
Take 20–49% of fast-growing companies with a board seat and veto rights; buy up or exit within 3–5 years.
- Desk
- Private Equity
- Book
- Growth stakes
- Horizon
- Medium-term · 1 – 5 years
- Last reviewed
- 11 Sept 2026
Thesis
Many good businesses need expansion capital without giving up control. Patient capital plus sound governance is scarce in the VND 20–100bn segment, allowing favourable valuation and protective terms.
Rules
Entry
Revenue growth ≥ 25%/yr for 2 years, a concrete use-of-funds plan, anti-dilution and information rights.
Exit
Tag/drag-along rights; target ≥ 2.5× capital within 5 years.
Sizing
3–8% of NAV per position.
Risk limits
- Max 3 concurrent positions
KPIs
- Portfolio IRR ≥ 20%
Instruments
- Preferred or common equity with a shareholder agreement
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