A Japanese government-backed investment fund has been identified as the largest of new stakeholders in the Vietnam-headquartered pizza restaurant chain and FMCG business Pizza 4P’s.

Cool Japan Fund, described as an investment fund of the Japanese Ministry of Economy, Trade and Industry, has acquired the minority stake in the business sold by Vietnam equity investor Mekong Capital, for what has now been revealed as US$10M. Several smaller investors also participated in the equity purchase.

Co-Founder Yosuke Masuko said in a LinkedIn post that the company wants to continue to pursue its international growth ambitions. “We have decided that Cool Japan Fund would be the best partner for us to work with in order to achieve these goals, and we have gladly agreed to… the transfer from Mekong Capital,” he said.