Thailand: Singha Corp launches $25m VC fund to invest in Series A rounds

The Singha beer logo is pictured at the Boon Rawd Brewery headquarters in Bangkok, Thailand October 12, 2017. REUTERS/Chayut Setboonsarng

Singha Corporation, the Thai conglomerate which owns Singha Beer, has rolled out a venture capital arm.

The new VC firm – Singha Ventures – will invest in Series A rounds of startups, and will be geography agnostic.

While Singha Ventures publicly talked about its new venture capital arm only last week, it set up the venture in Hong Kong in mid-2017 with an initial registered capital of $25 million. It will focus on startups in three key industries, which are consumer products, supply chain management and logistics technologies, and enterprise solutions.

“We are always trying to expand our business capabilities for the organization’s long-term growth. Startup business is deemed as the the new S-Curve which meant business for the future because of its constant creation of new ideas, products and business model that fits with the current lifestyles of all people, resulting in surging growth in a small period of time,” Bhurit Bhirombhakdi, chairman of the executive board of Singha Ventures, said.

In 2017, the Singha Corporation also invested in two regional venture capital funds – Indonesia-based Kejora Ventures and Temasek-based Vertex Ventures.  It did not reveal how much it had invested in each of these vehicles

Kejora Ventures focuses on financial, logistics and organization technologies, while Vertex Ventures, the largest VC firm in the region, does Series A and upward rounds in Southeast Asia and India.

Bhirombhakdi said Singha’s investments in both these firms had so far generated returns of 2.5 to three times the initial investment but did not divulge details.

Vertex’s portfolio companies in the region include Grab, the largest ride-hailing app in Southeast Asia, which raised about $2.5 billion in its latest funding round, that was led by SoftBank and China’s Didi, making it the most valuable startup in this region.

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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.