Bangkok-based angel investment platform Shift Ventures is raising at least $10 million to launch its own venture capital fund in the second half of this year.
The way that it forms the fund is quite different from other VC funds as it will mainly mobilise the funding from“ local individual investors and the executives of the listed companies.
“Those people [investors and executives] will not only provide the money, but also give other necessary supports including their connection and their market insight to startups,” Worawisut Pinyoyang, managing partner of Shift Ventures, told DEALSTREETASIA.
Shift Ventures launched the 1000x Club in November last year as a matching platform between individual investors and startup companies. Each investor has to commit the investment capital of $1 million to join the club. However, they have the right to choose the startups by themselves, said Pinyoyang.
“But the VC fund we are forming now will be another option for those investors who might not have time to consider each startup by themselves. Instead, they can put their money into Shift Ventures’ venture capital fund and let us manage their money,” said Pinyoyang.
He said that the funding will be poured into those who raise at least $2-3 million in Series A round rather than seed funding. However, it will not only focus on startups but also pre-IPO companies.
The sectors it is keen to investing are healthcare, logistics, advertising and marketing technology, retail technology and property technology.
Apart from Pinyoyang, Shift Ventures were co-founded by Gavin Opaswongkarn and Wilert Orawanwong.
Gavin is a son of Dr Kongkiat Opaswongkarn, who is chief executive officer of Asia Plus Group Holding. Last year, Asia Plus Group tapped into startup investment by joining the Series B round of Hong Kong-based on-demand delivery startup Lalamove.