Success is often elusive, especially for startups based on technology. A seminar on “Tangible startups:…
Beacon Venture Capital, a corporate VC fund under Kasikornbank Plc, has prepared an advisory team to help jumpstart startups to go abroad at the big event, Startup Thailand 2018, running from May 17-20, 2018.
Beacon Venture Capital is one of the major supporters of the international event organised by the Ministry of Science and Technology. The event is a part of the government’s policy to enhance the startup ecosystem.
Thanaphong Na Ranong, managing director of Beacon Venture Capital (Beacon VC) said, during the four-day Startup Thailand 2018 event, the fund has organised a consulting clinic for startups. It also arranges a pitching stage to help establish a network between startups and financial resources and investors. Interested people can register to join the clinic at www.facebook.com/BeaconVenture/.
Venture capital is one crucial factor in building the ecosystem for startups, helping them to access financial support and business advice.
Mr Thanaphong said Startup Thailand 2018 is not only an opportunity for startups, but it’s an opportunity for venture capitalists from all over the world to network, get updated on new ideas and technology, while exchanging knowledge and information. It provides an opportunity for VC firms to get new business ideas or make business deals that can be further developed for a better return on investments too.
“More than 400 startups in Thailand and abroad are coming here to share their experience, success stories, case studies, and knowledge that can be beneficial to investors. It will be a good opportunity for all parties concerned.”
Beacon VC also aims to get updated on existing startup businesses and meet new startups during the event.
“If we’ve found any potential startups that can help support Kasikornthai’s businesses, we will probably enter into a business deal. Everything is possible.”
At present, Beacon VC has invested in three Thai startups including EventPro, a platform developer for event organisers; Flowaccount online accounting platform; and Ookbee, a digital lifestyle platform. It has also invested through VCs of Singapore in two startups: Vertex Ventures and DymonAsia.
The total investment value in those three companies accounts for 25% of a total US$30 million budget (960 million baht). At present, it is negotiating business deals with startups of various sizes, with further investments expected soon. It also expects to make an imminent investment in one overseas startup.
Beacon focuses on innovative startups that can support the bank’s core businesses of fintech, artificial intelligence (AI) and Big Data. Also, it plans to expand its Pre-Series A investments.
“Previously, we invested in Series A, which has a wider presence in the market. However, now it’s harder to find Series A startups while there are more Pre-Series A startups in the market. They have good ideas and innovations that meet our business needs, so we will be looking to join their business development team,” said Mr Thanaphong.
MOST POPULAR
