Thai bank SCB doubles VC arm Digital Ventures’ fund size to $100m

Siam Commercial Bank (SCB) has injected another $50 million into its fintech-focused venture capital arm Digital Ventures, bringing the total fund size to $100 million. The latest capital infusion makes Digital Ventures the largest venture capital fund in Thailand.

The development was first reported by Techsauce and confirmed by Digital Ventures CVC managing director Paul Ark (Polapat Arkkrapridi) in a social media post.

“At present, we have engaged with over 800 startups and more than 60 venture capital funds in nearly 30 countries… Our past success has given us the confidence to double our venture capital fund size from $50 million to a total of $100 million,” said SCB chief financial officer and chief strategy officer Dr. Arak Sutivong.

“Leveraging a US$100mn capital base thrusts us into the “big kids club” of international bank CVC funds and enables us to continue our hunt for key strategic technologies and attractive financial investments,” Ark wrote in a Facebook post.

Digital Ventures will also focus more on direct investments as opposed to investing in other VC firms, the report quoted its executives as saying. The corporate venture capital firm has backed Golden Gate Ventures, Dymon Asia Ventures and Arbor Ventures in the past.

Direct investments by Digital Ventures include IndoorAtlas, Ripple, Pulse iD and PayKey.

Also Read:

Bangkok-based Digital Ventures invests in Finland’s IndoorAtlas

Thailand’s Digital Ventures invests in geolocation data firm Pulse iD

Thai SCB arm Digital Ventures appoints former Microsoft GM as new chairman

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.