Palida Artispong, Acting Managing Director and Head of Portfolio Growth, Krungsri Finnovate said that "Krungsri Finnovate has made significant strides in strengthening the startup ecosystem in Thailand and ASEAN at all development stages. This year marks a milestone as we focus on scaling ASEAN startups while creating new strategic partnerships. These initiatives reinforce our mission to harness expertise and capabilities to become a global venture capital firm with deep regional knowledge, aligning with Krungsri's aspirations."
In 2024, Krungsri Finnovate accelerated growth opportunities for startups by providing a robust ecosystem that spans fintech, digital technology, and sustainability-driven industries. Recognizing that a dynamic and resilient economy is essential for both business success and broader economic growth, the company launched a comprehensive accelerator program to empower emerging entrepreneurs. This initiative provided them with the expertise, resources, and tools necessary for long-term success.
"The Finno Efra Accelerator Program, a partnership between Krungsri Finnovate and Efra Structure, is designed to empower emerging startups, offering mentorship from top-tier experts in Thailand. Batch 1 of the program had over 200 applicants, with 12 final teams completing an intensive four-month curriculum spanning more than 30 specialized classes. The program culminated in a high-impact Demo Day, where startups pitched their business strategies to a panel of judges, corporates, and investors. This initiative not only opens doors to investment opportunities but also reflects our commitment to playing a pivotal role in empowering and nurturing Thailand's entrepreneurs, helping startups unlock their full potential while fostering long-term sustainability", Palida added.
The winners of the Finno Efra Accelerator Program will receive venture support, including exclusive exposure trips to global startup innovation hubs such as VivaTech (Paris, France), InnoVex (Taipei, Taiwan), and NextRise (Seol, South Korea).
Krungsri Finnovate currently manages a total of 4,039 million baht (approximately US$120 million) and has invested in 25 startups which include four unicorns, which are Grab, Flash Express, Klook, and Ascend Money. With several gearing up for Initial Public Offerings (IPOs).
The Finnoventure Private Equity Trust I, with a capital of 2.7 billion baht, focuses on Series A and later-stage startups. To date, 1,731 million baht has been allocated to 15 startups, with plans to invest in six additional startups in 2025. Meanwhile, the Finnoverse & Futuristic Fund has already invested 475 million baht, with an additional 70 million baht investment expansion plan for this year. Additionally, this year is expected to see investments in the FinnoEfra Private Equity Trust, which focuses on Seed to Pre-Series A stages.
"2025 is another exciting year as we unlock new opportunities to build a powerful ecosystem in Thailand and ASEAN. With our expertise and strong networks, Krungsri Finnovate is poised to drive innovation, ensuring startups achieve sustainable and impactful growth." Palida concluded.
For more information about Krungsri Finnovate, visit www.krungsrifinnovate.com or follow Krungsri Finnovate on Facebook.
Source: Spark Communications