Swedfund, the Swedish government’s development finance institution, has invested 15$ million in a new fund that supports growing businesses in Vietnam. The fund, called Excelsior Capital Vietnam Fund II, focuses on helping medium-sized companies in areas such as healthcare, education, consumer goods, and technology.
The investment is part of a larger effort to raise 200$ million for the fund, which will provide financial support to around a dozen Vietnamese companies to help them expand and create jobs. Switzerland’s SIFEM fund has also recently contributed 20$ million to the same initiative.
Swedfund said the goal is to make it easier for Vietnamese businesses to access the money they need to grow. In Vietnam, small and medium-sized enterprises make up nearly all registered companies, but many have limited access to long-term financing.
The fund will also promote women’s participation in business leadership and formal employment, as part of a global initiative known as the 2X Challenge, which aims to increase economic opportunities for women in developing countries.
