# Explora Capital

Explora Capital is an Asset Manager based in Ho Chi Minh City, Vietnam.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Ho Chi Minh City, Vietnam
- **Region:** Asia
- **Address:** Ho Chi Minh City, Vietnam
- **Assets under management:** Undisclosed
- **Website:** www.exploracapital.com
- **LinkedIn:** https://www.linkedin.com/company/explora-capital

## Regulatory record

- **Reports private funds:** No

## About

Explora Capital is a private investment company based in Ho Chi Minh City, Vietnam. It focuses on buyout investments.

## Sectors

- Real Estate
- Private Credit
- Buyout

## People

- Ricardo de la Serna — Founder

## Questions

### What investment stages does Explora Capital target?

Explora's mandate covers full buyout transactions, management buy-ins, corporate spin-offs, and structured real-asset positions. The firm uses SOCIMI vehicles — Spain's publicly-traded REIT equivalents — for its property portfolio, which requires a focus on income-generating, stabilized commercial and mixed-use assets rather than early-stage or greenfield development.

### Where does Explora Capital deploy capital geographically?

Explora Capital maintains its headquarters in Ho Chi Minh City, Vietnam, while a significant portion of its known portfolio is concentrated in Spain through SOCIMI vehicles. The firm pursues buyout strategies across Southeast Asia, and its co-investment partnerships with Inbest Partners and All Iron anchor the European real estate activity.

### What is a SOCIMI and why does Explora use this structure?

A SOCIMI is the Spanish equivalent of a Real Estate Investment Trust — a publicly-listed corporation that owns and operates income-producing property. SOCIMIs must distribute a high percentage of profits as dividends and maintain minimum share capital. Explora uses this vehicle type for its Spanish commercial and mixed-use real estate, providing a regulated, transparent structure for co-investors such as Inbest Partners and All Iron.

### Does Explora Capital invest in funds or only direct deals?

Based on its disclosed strategy — buyouts, management buy-ins, spin-offs, and direct SOCIMI co-investments — Explora Capital operates primarily through direct principal investments and co-investment structures rather than as a fund-of-funds. The firm's visible portfolio vehicles (Inbest Prime I–IV, All Iron RE I) are direct property-company investments developed with specific operating partners.

## Related profiles

- [Expert DOJO](https://altss.com/profile/expert-dojo)
- [Explore Equity Partners](https://altss.com/profile/explore-equity-partners)

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Last updated: 2026-06-03T20:00:00.000Z

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