Exclusive: Shift Ventures to launch $10m VC fund in second half

Worawisut Pinyoyang

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.

Also read:

Shift Ventures ropes in Thai angels to fund up to $30m in tech startups

Exclusive: Thai B2B fresh food e-marketplace Freshket raises 6-digit funding

Venture-backed Lalamove to launch same-day delivery service in June

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.