The fund is already investing in Zipmex, a leading crypto exchange platform in Thailand, and ADDX, a market-investment platform from Singapore.
Sam added that Krungsri Finnovate is in talks to invest in three more start-ups, whose names will be announced later this year.
Meanwhile, the firm’s Finnoventure Private Equity Trust I now has 16 prominent start-ups under its wing, mostly in fintech and e-commerce. Two of them – Grab and Flash Express – have become unicorns.
Investors in this fund include Thai corporations and financial institutions such as PTT Oil and Retail Business (PTT OR), Siam Rajathanee, NTT Data, and the Thai Stock Exchange. Private Equity Trust I is now valued at 5 billion baht, enough to fund Thai start-ups for the next few years. So far, 326.3 million baht has been invested in the start-ups.
