Thai bourse to launch blockchain platform for startup fundraising in Q3

Blockchain visual. Credit: Wikimedia Commons

By Chalida Ekvitthayavechnukul

March 1, 2017

The Stock Exchange of Thailand (SET) plans to roll out a blockchain-based marketplace as another fundraising option for startups in the third quarter of this year.

SET’s senior vice president Santi Kiranand said, the marketplace was not a trading board as there was no regulator to verify their business quality like the SET and the Market for Alternative Investment (MAI).

However, those startups that want to mobilise funds from this board are required to register with the authorities, run business with transparency and have a single financial account.

Due to high risks on investment, only institutional, high net-worth investors and venture capital funds are allowed to invest on this board.

He said, the norms for the marketplace would be finalised next month, while small-and medium-sized enterprises may also be allowed to raise funds on this platform as well.

Around 607 companies have expressed their interest and registered with the SET to join the marketplace, added Santi.

Thailand Tech Startup Report, launched by Techsauce this week, cited that the number of funded startups in Thailand increased from 60 in 2015 to over 75 in 2016.

Total funds raised by startups last year was more than $173.9 million, double of $88.73 million in 2015. Meanwhile, total value of fund raised by VCs also rose significantly from $74 million in 2015 to $134 million in 2016.

Since 2012 to date, the report estimated total value of mergers and acquisitions among Thai startups were at least $108.17 million.

The M&A deals in 2016 included the acquisition of Net Design by GMO, the merger between Thoth Zocial and OBVOC, the acquisition of Noonswoon by Australia’s DateTix and the acquisition of StoryLog by Ookbee.

Also read:

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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.
APPLY NOW

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.
APPLY NOW