Coeus Magazine Tet 2018

Opening Message: Another year has passed. It was the 5th
consecutive year that we won an PEI award! It was the year we
made 4 successful exits! It was the year the year we made 3 new
investments! It was the year we welcomed 8 new members to the
family!

among many other accomplishments! What a lot we have been
through and done together. 2018 has come. We are Mekong
Capital, we are our core values, we are our Vision and we are the
authors and creators of our future. And that, gives us the power and
confidence to achieve unpredictable results in the year ahead.

LATEST

Launching Two New Core Values!
Resultership: Holding ourselves
and others accountable to organize
around results and do whatever is
necessary to produce results, but
always in a way that is consistent
with our core values.
Springthrough: Inspiring ourselves
and others to step out of comfort
zones, play a bigger game, and
choose empowering contexts
which lead to new actions and
breakthrough results.
"Vision 2025 becomes more
achievable and within reach with
the launching of new Core Values"

Our Employee-Net-Promoter Score was
90 percent by 2H17'
The primary reasons are:
✓ Mekong Capital has a great
leadership and very clear
long term vision. I am
"We are committed to
build up the happiest
working place in
Vietnam."
inspired & empowered by
our core value & 6 forces.
✓ The long-term bonus is
very exciting, but the basepay
is not that competitive.
✓ Excellent team members and we are on the process to
maintain an excellent working environment.
✓ MC is an ideal place for people who are committed to
something bigger than themselves, and to generate
breakthroughs at work and in personal life.

Vision 2025
Mekong Capital sets a new standard in Private Equity for
consistently generating returns exceeding 5x. We are our
Core Values, empower the opportunities of Six Forces
and deliver the full potential of Vision Driven Investing.

How it looks like by 2025
1. All MEF series funds from MEF II onwards achieve net IRRs
above 20%;
2. 100% of investments made since 2015 and held more than 5
years are exited at 5x or higher, and any company predictably
not meeting this 5x criterion will have been divested within 3
years of the 1st tranche;
3. At least 30% of investments made since 2015 and held more
than 5 years are valued or exited at 10x or higher;
4. New funds every four years, which are easy to raise*;
5. Five investment Partners (or four investment Partners and
two investment Directors) from 2021 onwards; and
6. The book Vision Driven Investing is a best seller in Amazon’s
most relevant category.

2017
Achievements

SETS A NEW
STANDARD
IN PRIVATE
EQUITY
• We successfully invested in 4
companies including Nhat Tin
Logistics, Pharmacity, Vua
Nem, and Quan Ut Ut. We
have leveraged the full
potential of VDI with F88,
ABA, Yola, Red Wok and BTJ.
• We have consistently
generating returns of 5x or
greater with 3 out of our 4 full
exits in 2017 near or above
that level including: VAS,
Traphaco and, MobileWorld.
• We reinvented private equity
as we caused transformation
for the 50+ leaders who
completed the 7-month Vanto
Breakthrough Leadership
Programme.

Core Value
Awards

Springthrough: "I nominate this
team member for his rapid transformation
into someone who is really focused on
delivering the results we need." - Chris F
Communiplete: "In my work with
her, I have experienced that she is exercising
excellent listening. Her execution of
delegated tasks fully captures the messages,
ideas and requests I communicated to her in
a way that makes it easy to accomplish tasks
and without multiple reviews." - Chad
Jeromosity: "This team member has
been exercising high levels of Jeromosity in
his work with Nhat Tin. While he is highly
committed to cause them to get VDI fully in
place quickly; he is flexing Jeromosity as a
key lever to cause them to take action in a
way that they own the results." - Chad

Victorance: "This team member had
relentless perseverance in getting the E&S
due diligence and the E&S CP’s completed
for Pharmacity and went beyond what I
would expect as part of her accountability.
Every time when another issue showed up
she worked until late to get everything
done by the very short deadlines that the
deal team had. This team member had
amazing perseverance in working together
with the deal team to ensure we could
make some very short deadlines on many
aspects of this deal. For example, she
worked independently with the lawyers of
Pharmacity to find a new way to legalize
the legal documents to ensure we could
shorten the normal 3 week time-line to
less than a week. The Pharmacity deal
team would have hit many delays if both
of them would not have shown this core
value." - Sjoerd

My story in applying Jeromosity
and Springthrough at NTL to
cause breakthrough.
Looking back, I still remember
my first encounter with the NTL’s
leadership team back in October.
It was a déjà vu feeling, with lots
of flash back from Traphaco. The
leadership team of NTL and
Traphaco shared many
similarities. They are from the
same generation, educated
locally in Vietnam, speak very
little English and have a very “old
school” style of leadership/
communication. It was relatively
easy to generalize.

However, I have decided that they should be given a fair
chance/ a fresh start to demonstrate their capabilities. I
started on a blank page and see them as our partners
(many of them also own shares in NTL) and that we all
have a common goal of helping the company to realize its
Vision. 4Q2017 was an eventful quarter at NTL. The
company delivered great breakthroughs in the key VDI
elements of Drivers and Annual Milestones (bottom-up
budget for 2018 with significant inputs from individual
branch managers), KPIs (KPIs for 2018 fully cascaded