Krungsri Finnovate (KFin), the corporate venture capital arm of Krungsri (Bank of Ayudhya), plans to invest around 520 million baht in tech startups both locally and across the region this year.
According to Palida Artispong, acting managing director and head of portfolio growth at KFin, the company is in the process of investing in six startups through Finnoventure Private Equity Trust I, KFin's flagship private equity trust, with a total investment of 400 million baht across both local and regional markets.
Regarding regional startups, KFin is focusing on investments in Vietnam, Indonesia and the Philippines.
Finnoventure Private Equity Trust I, which has a capital pool of 2.7 billion baht, focuses on Series A and later-stage startups.
KFin also allocated a budget of 70 million baht for investments in startups or fund of funds through Finnoverse, its futuristic investment fund.
Moreover, KFin established a new private equity trust called Finno Efra in partnership with Efra Structure, which has an investment budget of 50 million baht to support tech startups.
To empower tech startups, KFin launched the Finno Efra Accelerator Programme, providing mentorship from leading industry experts in Thailand.
The programme's first batch attracted more than 200 applicants, with 12 finalist teams completing a rigorous four-month curriculum covering more than 30 specialised courses. Winners in the accelerator receive venture support, including exclusive trips to global startup innovation hubs.
The 12 finalists span various technology sectors, including artificial intelligence, deep tech, HR tech, health and medical tech, property tech, and wellness tech.
This year, KFin earmarked a total budget of 50 million baht for investments in seed to pre-Series A startups through the Finno Efra trust. Of this, 60% is allocated for Thai startups, with 40% to support regional ventures.
"The new trust has an investment period of eight years, with an expected annual return on investment of 25%," said Ms Palida.
"The first Finnoventure fund has delivered satisfactory returns since its launch in 2021."
KFin manages total funds worth 4.04 billion baht (roughly US$120 million) and has invested in 25 startups, including four unicorns -- Grab, Flash Express, Klook and Ascend Money -- some of which are preparing for initial public offerings (IPOs).
Seven startups in the IPO pipeline include Klook, Ascend Money, Wisesight, BuilkOne, Buzzebees, Finnomena and Opn.