Creative Ventures to help Southeast Asia ecosystem land in Silicon Valley | Digital Asia

Update

US deep -focused investment firm, Creative , has just announced a second funding worth THB1.62 billion (US$50 million). The company hit the US$50 million mark faster than expected, which was the first quarter of 2019, as reported by Bangkok Post.

This second fund will be directed towards four deep tech areas in Valley that cover construction, manufacturing, logistics, agriculture, food, energy, as well as healthcare.

“We are ready to in deep tech startups and now looking to expand to Israel right after Silicon Valley,” said Champ Suthipongchai, Creative Ventures’ Managing Partner. The company says it is also looking to expand to and Taiwan shortly.

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Participating in this second fund are Singha Ventures and BCH Ventures under Benchachinda Holding Group, Moonshot Ventures, and few individual investors like Itthipat “Tob” Peeradechapan, CEO of Taokaenoi Food and Marketing; Chalermchai Mahagitsiri, CEO of Thoresen Thai Agencies and founder of Visionity Ventures; Chanond Ruangkritya, President and CEO of Ananda Development; and Sitthichai Leesawadtrakul.

Next, the company that mainly invests in early stage funding. One example is an investment in US-based Vericool, an environmental startup that innovates cold packaging. Creative Ventures is also planning to have offices in Singapore on December and Taiwan to support their portfolio companies in transition entering the region.

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Within 4 to 5 years, the company is looking at establishing a third fund worth US$25o million.

Vorapat Chavananikul, managing director of Singha Ventures stated that doing an investment for overseas startups will empower local Thai startups to look at the larger market. “It should also make the government consider forming joint ventures and offering more incentives to strengthen startups in Thailand,” Chavananikul added.

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Photo by Joshua Rawson-Harris on Unsplash

The post Creative Ventures to help Southeast Asia ecosystem in Silicon Valley appeared first on Tech News.

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