VOF, the flagship fund of VinaCapital, made a private equity investment in Ngoc Nghia, manufacturer of polyethylene terephthalate packaging in Vietnam. VinaCapital will lead a consortium to invest $21.4m in Ngoc Nghia, of which VOF will invest $17m for an undisclosed stake and will receive two seats on the Board. "Ngoc Nghia is the perfect example of a market leading company we like to invest in. It is well-established and serves some of the sectors that are benefitting from Vietnam's strong domestic consumption story. Its management team is experienced and recognises the need to innovate into new areas such as packaging for milk and alcoholic beverages. They evolve with the market, which is why they have invested in advanced equipment and have a strong commitment to research and development focused on minimising environmental impact. We look forward to working with them to take their company to its next stage of growth," Andy Ho, VOF's Managing Director.