The fund, which is seeking to raise over $100 million, was formed in partnership with Thai firm Innopower.
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The PE firm, which operates in the lower mid-market space, recently raised over $80m for its second fund.
The fund expects to make its first investment by Q1 2024.
The firm makes equity investments in the range of $50-150m.
Quadria is currently on the road to raise over $800m for its third fund.
Early-stage investing will continue to see high volumes and investor interest, he said.
Over the past 10 years in Vietnam, Warburg has invested in financial services, real estate, logistics and hospitality.
InCred is poised to enter the unicorn club after receiving commitments worth $60m.
Vietnam has seen some early developments in the deep tech industry.
The Hong Kong-based crypto VC recently launched a $100m fund.