Standard Chartered invests in Vietnamese restaurant chain operator
On Tuesday, the private equity arm of Standard Chartered announced a USD$35 million investment in restaurant chain operator Golden Gate, acquiring a minority stake in the company and marking the international bank’s first investment in Vietnam. The move comes after a Vietnamese private equity firm, Mekong Capital, exited its investment with the company earlier this year reporting a 9.1-fold net return. The deal will also land two Standard Chartered employees onto the Golden Gate board. Since 2008, Golden Gate has grown from five restaurants to 67, including several popular hotpot eateries, such as Ashima, Kichi-Kichi and SumoBBQ, as well as beer club Vuvuzela.