Newly-launched IYARA VC to raise $9.28m to promote Thai tech startups

Four co-founders of IYARA Venture Capital

IYARA Venture Capital Co, a newly-launched venture capital firm based in Thailand, plans to raise 300 million baht ($9.28 million) to fund at least 100 Thai startups over the next five years.

IYARA was founded by four co-founders, comprising Apichai Sakulsureeyadej, Somboon Sukheviriya, Wissanupong Wongwas and Chatchai Tolertmongkol. All of them have experiences in information industry (IT) but have worked in different sectors like retail, tourism, food and beverage, and the government projects.

In the formal opening ceremony today, co-founder Apichai said that although the Thai software developers and technology-related startups have high potential, most of them do not have access to capitals and lack management, marketing experience.

IYARA plans to invest about 3 million baht and hold 25 per cent of the total shares for each startup it invests in. The expected return on investment is about be 5-10 times of the investment.

“We are committed to be a linkage between investors and startups, so investors can diversify their portfolio in new innovations with good potential and returns on investment. On the other hand, startups can gain capitals and grow their businesses,” he said.

However, IYARA will focus only on startups which have developed 75-80 per cent of software products, completed the development and are ready to market, or have already launched the products.

It has already funded a mobile technology startup called Fixzy and it is in talk with other four startups, comprising ZipEvent, SharingBox, and TakeMeTour.com.

In February, US-based venture capital 500 Startups launched a $10-million micro fund, called 500 Tuk Tuks, to support Thai startups. It has recently announced to jointly fund Thai online market Blisby.com with East Ventures and DeNa.

Related stories:

500 Startups to launch $10m Thailand-dedicated fund

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.