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.