Thailand: Ananda launches Urban Tech fund to invest in startups

Image from Thai PR

Ananda Development Pcl, Thai-listed property developer, has announced the launch of Ananda Urban Tech – its VC arm that will invest in funds as welll as startups which develop innovative solutions for urban living problems.

It is the first Thai property developer to diversify into tech and innovation investor.

Chanond Ruangkritya, president and chief executive officer, told the media that the initiative consists of three parts – ecosystem support, fund of funds and corporate venture capital.

“Ecosystem support is a strategy to support other players including incubators and accelerators in the innovation ecosystem rather than set up competing facilities or events. This gives us access to the technology, ideas, knowledge and people across a wider range of domains for less cost and effort on our part,” he said.

“For Fund of Funds strategy, we will invest in VC funds around the world in key markets with a policy of being an ‘Active LP’ meaning we get to see the deal flow, meet the entrepreneurs and interact. This gives us a global reach and visibility, while still earning a return on the investment, so it’s considered as an investment not a cost. Meanwhile, our corporate venture capital vehicle will be used to invest directly in to startups that possess a technology we want to bring to our core business. It will act with the same discipline and rigor as a professional VC,” he cited.

However, the company is still in the process of finalising the figure for both the Fund of Funds and the corporate venture capital fund and hopes to do it within this year.

At the same time, it has appointed Dr Chet Yong as chief innovative officer, working together with chief strategic development officer John Millar, who used to support early-stage tech firms in the UK through his own company Enterprise Accelerator.

Besides, Ananda Development also allocated the budget of 300 million baht to create ‘Ananda Campus’, a new office in Bangkok.

Also read:

Thai property developer Ananda to finalise JV with Japan’s Mitsui Fudosan in Nov

Thailand’s Digital Ventures invests in Nyca Fund II to expand fintech radar to US

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.