By Ka Kay Lum
Wongnai raised a Series B financing round in April 2016, led by InVent, the venture capital arm of Intouch Holdings.
The group is working on a restructuring of its retail operations ahead of a possible IPO as soon as next year. Any share sale could raise at least $1 billion.
Devakam marks the PE firm’s sixth investment from its $60-million Lakeshore Capital Fund I.
The acquisition will see SCG tapping into Indonesia-listed CSA’s two core businesses including modern retailing and distribution of home products under the brand of Mitra10.
The pre-Series C comes as TripAdvisor’s restaurants business unit, The Fork, looks to help expand Eatigo’s presence across Asia Pacific.
The Thai military government views its so-called Eastern Economic Corridor project as well placed to link with China’s Belt and Road Initiative.
The Social Security Office, which manages social-security funds for 14 million Thais, is seeking to draw new investment guidelines and will invite foreign companies to compete for advisory services.
CP All’s cash-and-carry unit Siam Makro Pcl is studying opportunities in the two countries, as well as the possibility of setting up a store in Myanmar, having already opened an outlet in Cambodia.
The second fund will follow the launch of the long-delayed Thailand Future Fund this September to finance road building.
Issuers can only offer tokens to retail investors of up to 300,000 baht ($9,050) each.