Interesting piece at VCCircle here. I thought the comparison below of PE in Indonesia to India a few years ago was apt. The writer's estimate of the number of Indian PE funds in the market today is quite extraordinary too.
Another VC investor mentioned in a discussion yesterday -- and I know that he had the same views three years ago -- that although Vietnam presents great opportunities for the canny investor, entrepreneurs there don't yet have familiarity with terminology and structures that VCs are used to in other markets. For instance, in the Vietnamese legal system, loans and equity are understood, but the concept of preferred shares trips them up.
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