19 August 2024
Mr. Sam Tanskul (left), Managing Director of Krungsri Finnovate and Mr. Pawoot Pongvitayapanu (right), CEO and Founder of EfraStructure Co. Ltd. announce the launch of the fund "Finno Efra Private Equity Trust”.
Bangkok (19 August 2024) – Krungsri Finnovate in partnership with EfraStructure, founded by Pom Pawoot, a pioneer and expert in Thai e-commerce, proudly announces
the launch of the fund "Finno Efra Private Equity Trust”. This visionary fund aims to invest 1.3 billion baht (approximately 35 million USD) into startups across Thailand and ASEAN over the next four years, with initial discussions underway with 5-6 promising ventures. In addition, an Accelerator Program will be officially introduced to enhance a startup from the Seed to Pre-series A, fostering stable growth towards the Series A stage.
Mr. Sam Tanskul, Managing Director of Krungsri Finnovate, CVC under the Krungsri Group said: “Krungsri Finnovate and EfraStructure have long been integral to the startup ecosystem, collaborating closely with numerous innovative startups. The Finno Efra Private Equity Trust (Finno Efra) stems from our shared vision to fortify startups. Corporate Venture Capital (CVC) in Thailand mainly focuses on the Series A level and above, contrasting to other countries and SEA regions where investing in early-stage startups. This strategy is designed to catalyze the growth of new ventures and reinforce the ecosystem’s foundation.”
The Finno Efra Private Equity Trust, under the collaboration of Krungsri Finnovate and EfraStructure Co., Ltd., is a 1.3-billion-baht (approximately 35 million USD) fund designed to primarily support startups in the Seed to Pre-Series A stages, with a particular focus on sectors driving impact and digital transformation. Around 60% of the fund will be allocated to Thai startups, with the remainder directed toward other ASEAN countries, where tech startups are showing significant progress. Investment deals will range between 8-40 million baht, in accordance with relevant regulations and company guidelines.
Mr. Pote Harinasuta, Chief Executive Officer of One Asset Management Ltd., said “As an institutional investor, we continuously identify growth opportunities for startups, and we are committed to supporting investments in this dynamic business group.”
"This partnership aims to elevate the Thai capital market by broadening the range of alternative assets beyond traditional equity, debt instruments, and commodities. We are dedicated to introducing innovative investment products to our customers, ensuring they have access to a wider array of options and do not miss out on interesting investment opportunities.” Mr. Pote added.
One Asset Management Ltd. is preparing to launch a mutual fund under the Finno Efra Private Equity Trust, marking the first mutual fund in Thailand to invest in Pre-Series A startups. This fund is designed to meet the demand of Ultra Accredited Investors (UI), with a minimum investment of 500,000 baht, and is expected to be offered with a trust. However, the fund is currently pending approval from the Securities and Exchange Commission.
Mr. Pawoot Pongvitayapanu, CEO and Founder of EfraStructure Co. Ltd., added, “Apart from the limited funds, there is a pressing need for robust mentorship programs. Accelerators and Incubators are vital to the emergence of new startups, serving as crucial bridges between investors and startups. In alignment with the Finno Efra Private Equity Trust, Krungsri Finnovate and EfraStructure are set to launch the Finno Efra Accelerator Program. This initiative will provide startups with access to our extensive network, experience, and expertise, ensuring a comprehensive curriculum that addresses all essential aspects for startup success. The program is meticulously designed to help participating startups fully realize their potential.”
Each Finno Efra Accelerator program course will run for four months, enrolling 10 startups per cohort. Participating startups will have the opportunity to secure funding and connect with a wide range of investors.
For further information about the Finno Efra Private Equity Trust and the Finno Efra Accelerator program, please contact
www.krungsrifinnovate.com or Facebook: Krungsri Finnovate