Thailands InVent gears up for investing in startups

InVent, a venture capital project of the INTOUCH Group, is planning several joint venture with rapidly-growing startups in Thailand, next year.

It will consider startups that are related to its business such as Information Technology (IT), telecommunication, digital content providers and media.

“We are considering joint ventures with three to four startups next year. We would like to support high potential startups that have growth sustainability,” said Kim Siritaweechai, executive vice president of INTOUCH’s Portfolio Management.

INTOUCH will provide financial support and business advisory including, marketing, but does not plan to hold majority stake or participate in company’s management.

It plans to invest at least five million baht ($152,439) in each company, hold the investment for at least three to five years, said the company officials.

“There are more startups in Thailand because people are much more aware of technology adoption and the government’s policy to promote the digital economy. However, the direction to support startups here has not got a clear picture. I believe that the government’s policy will help stimulate more investment in IT business and it’s a good timing for startups to share the opportunity,” he added.

Over the last two years, it has invested in three startups through its InVent project with an initial fund size of 250 million baht ($7.62 million).

Ookbee Company, the largest e-book platform in Southeast Asia, is one of the three companies that INTOUCH has invested in. When the business started, it held 25 per cent stake, but that was diluted to 22 per cent in the beginning of this year after a Japanese firm has also invested 160 million baht ( with a shareholding of 11 per cent).

The other two companies are Computerology, a social media solution provider, and Meditech Solution, a developer of “SenZe” which helps disabled patients to communicate with families and nurses by tracking their eye movement.

Image:freedigitalphotos.net

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.