Thailand Digest: DEPA to launch $6.2m fund; BIZ to set up cancer hospital via JV

Photo: Reuters

Thailand’s Digital Economy Promotion Agency is to launch a new fund to support startups and SMEs next month. Business Alignment Pcl is to set up a new cancer-specialised hospital in Chonburi.

DEPA to launch $6.2m fund next month

The Digital Economy Promotion Agency (DEPA) is to launch the DEPA Fund with a commitment of 200 million baht ($6.2 million) next month, aiming to support the business expansion of startups and small and medium-sized enterprises, according to The Nation’s report.

The fund will encompass the DEPA Startup Fund and the DEPA Transformation Fund, each with a budget of Bt100 million.

The DEPA Startup Fund will invest in startups, allocating 10,000-300,000 baht per project. It will hold less than half of total shares in each startup, which would be able to buy back the equity from DEPA within three years.

The DEPA Transformation Fund will provide the financial support between 10,000 baht to 300,000 baht to transitional small and medium-sized enterprises and other companies that want to adopt information technology, including local software and hardware producers.

BIZ to form cancer hospital via JV

Business Alignment Pcl (BIZ), a Thai listed medical devices supplier, has received its shareholders’ approval to form a new joint venture firm to set up a specialized hospital for cancer treatment.

The new JV firm will register with an initial capital of 200 million baht, divided into 2 million shares with a par value of 100 baht apiece.

Of the total, BIZ owns 65 per cent and a group of individuals holds the rest 35 per cent.

Sompong Chunekitiyanone, chief executive officer of BIZ, said that a new cancer treatment hospital will require the investment of around 500 million baht.

For the source of money, he said that 200 million baht would come from the shareholders of the JV firm and the rest 300 million baht from loans.

The hospital will be located in Chonburi. The hospital will have six floors with 30 beds and expects to serve around 500 patients per year, added the CEO.

Also Read:

Thai govt-backed $147m Digital Economy Fund to be set up in September

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.