Up to US$30m raised by South-east Asian search fund

WITHIN 16 months, a search fund in Vietnam has raised committed capital of up to US$30 million from over 15 international and local investors, to fund its hunt for and eventual acquisition of small businesses.

LT Partners was launched by Eduardo Batista and Thai Nguyen. The duo began their search for acquisition targets in Vietnam this July, though fundraising efforts began a year earlier. They created a 35-page memorandum for investors that included details on their credentials, with both having previously worked in top investment firms in Vietnam.

“We decided to pursue the traditional search fund model so that we could build a longer-term relationship with the investor base before, during, and after our search, versus connecting to those investors only when we have a deal ready,” Batista told The Business Times. The mentorship provided by these investors has been “invaluable”, he added.