BANGKOK (NNT) – An investment company in Thailand has established the country’s first fund for investment in startup companies both in Thailand and the region. The fund is expected to help make it easier for Thai startups to have better access to capital.
Krungsri Finnovate, a startup-focused investment company under the Bank of Ayudhya, has introduced Finnoventure Fund I, with 3 billion baht, intending to invest in startup companies in Thailand and Southeast Asia.
Mr Sam Tanskul, Managing Director at Krungsri Finnovate, said the fund will give individual investors and interested organizations the opportunity to invest in startup businesses more easily.
Investments by this fund will focus primarily on series A startups in the financial technology, e-commerce, and the automotive sector, as well as other categories with potential for fast recovery or increased opportunities during the COVID-19 pandemic.
The fund aims to have 30% of its investments in Thailand, and 70% in other countries in the region such as Singapore and Indonesia.
Since 2015, Thailand’s startup businesses have become more robust with three times investment growth in this category. The country has seen the first-ever Unicorn startup, or startup company of more than 30 billion baht in business value, with logistics startup Flash Express.
Many startups in Thailand are now showing great potential for business expansion into other countries in the region, while startup companies in the ASEAN region are also showing an exponential growth trend.
