ABC World Asia leads US$24m Series B round in Vietnam's Kim Dental

TEMASEK-BACKED ABC World Asia, a Singapore-based private equity fund focused on impact investing in Asia, has led a US$24 million Series B round in Kim Dental, a dental system operator in Vietnam.

Kim Dental's existing backer Aura Private Equity also participated in the round. The fresh capital will be used to expand the company's delivery of affordable and reliable oral healthcare services across Vietnam.

Kim Dental, which is headquartered in Ho Chi Minh City, owns and operates a network of 19 dental clinics across four cities. The clinics provide routine dental check-ups and treatments as well as more advanced procedures such as orthodontics, prosthodontics, oral surgery and implants.

The dental system operator employs 120 dentists and dental surgeons, and more than 600 clinical and operational staff who serve over 23,000 patients every month. It also operates a dental laboratory that supports its clinic network with in-house production of dental crowns, dentures and bridges.

The investment in the company was made out of ABC World Asia's inaugural S$405 million fund. Investors in the fund include Temasek, Temasek Trust, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp Industries and Singapore Power.

Kim Dental has partnered with Vinmec Central Park International Hospital to manage its in-house dental facilities. The hospital is part of the Vinmec Healthcare System, a healthcare group that operates the first general hospital in Vietnam to be accredited by Joint Commission International.

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The company was founded by Nguyen Huu Nam, who serves as chairman, Su Duy Bin, the chief executive officer, and Huynh Minh Viet, the chief financial officer.

David Heng, founder and chief executive of ABC World Asia, said: "The improvement of health outcomes is a key impact focus for us. Oral health, despite being an important component of primary healthcare, is often neglected and continues to pose a major public health concern in many developing countries."

Kim Dental was advised on the transaction by BDA Partners.