It plans to fund around 500 million to 1 billion baht to co-invest in each project and expects to wrap up the deals by the end of this year.
By Chalida Ekvitthayavechnukul
Social Nation is InVent’s 10th portfolio company and its first investment in the United States. The previous investments include local business review portal Wongnai, golf-course booking platform Golfdigg and mobile-first engagement solutions Playbasis.
Wongnai is the ninth portfolio company and the largest investment of InVent, a venture capital unit of Intouch Holdings, as well as the first-ever Series B investment in startups made by a Thai VC so far.
It is seeking approval from the Bank of Thailand as it expects to launch the fund in the first quarter. The fund size will be $30m-$50m and it will invest in tech startups. The bank has roped in Thana Thienachariya, former marketing executive at DTAC, to run the fund and also a new subsidiary, that will be focussed on fintech research
ShopSpot, one of the Southeast Asia’s leading social commerce platform, has raised an undisclosed Pre-Series A funding round from InVent, venture capital arm of Intouch Holdings Pcl, and Singtel Innov8 Pte Ltd. ShopSpot, which has created a platform for design enthusiasts, claims to have over 1.5 million visitors per month in 2015. It… Read more »
Thailand’s largest telecom firm Intouch Holdings (INTUCH) is chasing around 10 deals to invest in Thai startups through its venture capital arm InVent, says President Group Investor Relations Tomyantee Kongpoolsilpa. “We should be able to close the deals and announce some of them soon,” she told the media at the Stock Exchange… Read more »
Golfdigg Co Ltd, the creator of the golf booking application “golfdigg” on smartphone, has secured 23.83 million baht (around $670,000) in funding from InVent, a venture capital arm of Intouch Holdings PCL, to develop a better platform to meet the needs of golfers. This deal marks InVent’s seventh venture investment…. Read more »
Bangkok-based Playbasis, a gamification and engagement automation venture that launched in 2011, has closed $1.845 million in Series A funding, to further accelerate its growth and establish its market position as a major player in the gameification service provider space. The Series A was led by InVent, the venture capital arm of INTOUCH Holdings, with a… Read more »
Sinoze, a leading mobile games developer in Thailand has raised around $700,000 from InVent, the venture capitalist arm of Thailand’s largest telco Intouch. The deal has seen Intouch Holdings Plc (INTUCH) subscribing to 6,000 newly-issued shares in Sinoze Company Limited, equivalent to 16.67 per cent of its paid-up capital, for 22.5 million baht (approximately $700,000) through… Read more »