Bangkok--3 Oct--Creative Ventures
Creative Ventures, the first US-based venture capital firm founded by a Thai, announced an increase in fund size after a successful first close of its second fund. Aiming at companies with breakthrough technologies, the firm plans to start investing in startup powerhouse ecosystem such as Israel, in addition to its home-base Silicon Valley. Backed by visionary investors and next generation entrepreneurs from Thailand, including "Singha Ventures", "Tob-TaoKaeNoi", "BCH VENTURES", "Kueng-Chalermchai", "Moonshot Ventures" and is planning to spin up offices in Singapore and Taiwan to help its portfolio companies expand into Asia.
Mr. Champ Poonyatorn Suthipongchai, Managing Partner of Creative Ventures, a US-based venture capital firm, disclosed about a successful first close of their $50M Fund II after launching late last year. Their investor base resonated well with the next generation visionary investors and entrepreneurs seeking the opportunity to invest into new technologies and businesses addressing major secular trends. While targeting a full close in the first quarter of 2019, their fund II is now ready to start investing into Deep Tech.
The fund is targeting to invest into startups in major Deep Tech hubs and Silicon Valley, the world capital of Deep Tech startups tackling major secular trends such as i) labor shortage impacting industrial sectors, ii) climate change impacting the agriculture, food, and energy sectors, and iii) aging population and demographic shifts impacting healthcare sector. Many investors joined Creative Ventures to visit companies in Silicon Valley and experienced the world's most advanced Deep Tech ecosystem.
"We believe that investing in innovations that have the ability to improve quality of life and sustainability, increase efficiency, or decrease cost, can bring us more than just a financial return in the long run."
Ted Poshakrishna Thirapatana, Operating Partner of Creative Ventures, noted that "Fund II investors consists of visionary investors and successful business entrepreneurs, bringing more than just capital to the table. Some invest as a business and some invest privately. Investors include, for example, Mr. Itthipat "Tob" Peeradechapan, President and CEO of Taokaenoi Food and Marketing PCL, Mr. Bhurit Bhirombhakdi, Chairman of the Executive Board, Singha Ventures, Mr. Pirachai Bencharongkul from BCH VENTURES (member of Benchachinda Holding Group), Mr. Chalermchai Mahagitsiri, CEO of Thoresen Thai Agencies PLC and Founder of Visionity Ventures, Moonshot Ventures, Mr. Chanond Ruangkritya, President and CEO of Ananda Development PLC, and Mr. Sitthichai Leesawadtrakul. Their primary objective is to gain access to Deep Tech and expect both strategic and financial returns in the long-term."
Mr. Bhurit Bhirombhakdi mentioned, "Singha Ventures had the chance to visit and see the operation of Creative Ventures and startups in Silicon Valley, the hometown of technology innovation in San Francisco. They have a clear vision of the capabilities required to be a crucial part in the ecosystem, which is what our team and other investors who are interested in investing in the US are looking for. Partnership opportunities to help reinforce access to deal flow can lead to productive innovations." They decided to invest in Creative Ventures because of this capability and believe that the synergy between his team and Creative Ventures will provide them with the very best Deep Tech deal flow.
Mr. Itthipat Peeradechapan, also known as "Tob Tao Kae Noi," said that he had a chance to visit many startups in the US and see how "Champ Poonyatorn Suthipongchai" and his team are operating. He has utmost confidence in the team's potential to manage and invest the capital. The other advantage of Creative Ventures is its regional team based in Singapore and Thailand, which makes it convenient for him and his team to collaborate without US-Asia time zone issues as well as cultural gaps and barriers.
Mr. Pirachai Bencharongkul, Investment Director , BCH VENTURES, Benchachinda Holding Group stated that BCH VENTURES is exploring opportunities in new businesses and advanced technologies as well as investments in telecommunication infrastructure and digital services in ASEAN. They are focusing on expanding through innovations that can leverage their current leadership in the digital solution space. He added that exposure to and investments in Deep Tech is the key to finding the next S-Curve while maintaining their industry stewardship. Their goal is to deliver high-efficiency solutions to customers in Thailand and ASEAN
"We decided to invest in Creative Ventures because we see the potential to bring strategic breakthrough solutions and products, which are vastly different from what we see in the local market, to support our customer base. Deep Tech can help develop our capabilities for exponential growth, substantial competitive advantages, and opportunities to transfer technology into our telecommunication infrastructure in order to fulfill our mission to be the solution leader in both Thailand and the region." said Mr. Pirachai.
Mr. Champ Poonyatorn Suthipongchai, Managing Partner of Creative Ventures, summarized that he is confident that the second fund will create a return for investors similar to, if not more than, the first fund of $11M. The first fund has invested into more than 14 companies such as Dishcraft Robotics, an innovative solution for commercial kitchens solving labor shortage issues in hospitality; ALICE Technologies, an AI for construction scheduling platform designed to help real estate developers optimize their cost, time, and resource through transparent target alignment. Ananda Development PLC (ANAN) has already adopted this technology into their business.
Creative Ventures will add a Singapore office in November this year and plans to expand into high potential Deep Tech hubs in the region such as Israel and Taiwan. The expansion will fuel both its global deal flow and capability to help its portfolio companies take advantage of the growing Asian markets.
About Creative Ventures
Creative Ventures is a US-based venture capital firm founded in 2016 to invest in Deep Tech startups in Silicon Valley. The team has extensive expertise from finance, technology, corporate innovation, and startups both in the US and Southeast Asia. They are focusing on 4verticals:
1.Industrial - Construction, manufacturing, logistics impacted by labor shortage trends
2.AgriFood - Yield issues impacted by climate change, shifting demographics and the demand for 35% more food and 40% more water over the next 25 years
3.Energy - Changing consumer preferences and regulatory terrain are causing a market shift towards electric-based and sustainable solutions 4.Healthcare - Better healthcare solutions for the aging population