Emerging markets investing in the consumer & retail sector

In this episode, Giovanni Zangani joins Alex Rawlings to share insights from operating in Vietnam’s emerging private equity landscape. As Managing Partner at Maestro Equity Partners, Giovanni discusses the firm’s hands-on approach to investing in consumer and F&B businesses, the challenges of deal execution in emerging markets, and why local understanding is critical to success.

⏱️ Timestamps:

00:00 – Intro to Giovanni & Maestro Equity
Vietnam-focused, growth equity firm backing brick-and-mortar and F&B businesses with tickets of $5–20M.

01:25 – Key Mistakes in Emerging Markets
Investors often misjudge deals by relying on personal experiences or Western legal frameworks without cultural alignment.

03:16 – Who Makes These Errors?
Regional and international funds rushing due diligence or avoiding deeper market engagement.

04:41 – Why Vietnam?
Giovanni's move from the US to Vietnam, spotting talent gaps, and seizing untapped opportunities.

07:30 – Mature vs. Emerging Market Investing
Faster growth, lower costs, and higher returns—but requires entrepreneurial execution.

09:23 – PE in Vietnam is a Different Game
You must own every part of the process—legal, operational, strategic—and be hands-on daily.

11:17 – Due Diligence = Partnership Building
Guide founders through compliance and process; the relationship starts before the investment closes.

14:40 – Post-Investment Involvement
Maintaining founder focus and execution requires credibility, patience, and close collaboration.

16:35 – Lean but Deep Team
A 10-person team making fewer, more impactful investments with long-term vision.

17:59 – Vietnam’s Outlook
More consolidation, founder maturity, and market sophistication ahead—making it ripe for growth and future competition.

20:19 – Giovanni’s Recommendations
🎧 All-In Podcast
📘 The Game – Alex Hormozi
📘 The 5 Types of Wealth

21:40 – Connect with Giovanni
📧 [email protected]

🔗 Giovanni Zangani on LinkedIn

Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/

🌐 Visit Raw Selection: www.raw-selection.com

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