Creative Ventures, the first Thai VC in Silicon Valley
Poonyatorn Suthipongchai, managing partner of Creative Ventures, said the company will close its second fund of US$50 million raised since end last year from investors in Southeast Asia such as Singapore, Indonesia, Hong Kong and Thailand.
This fund will be invested in some 20 startups in Silicon Valley, targeting deep technology. Investment will focus on three areas: ageing population, technology that helps solve workforce shortage problems, and technology that reduces climate change. Those technologies cover manufacturing, agriculture and healthcare solutions. “Silicon Valley is the centre of startups in deep technology including Artificial Intelligence, robotics, computer vision, and highly-advanced sensors that improve quality of life and add value to business,” Mr Poonyatorn said. Addition to investing in startups, the company also supports business development to startups in terms of research and development, and marketing for a long-term outcome. This second fund of Creative Ventures has two new investors, Chanond Ruangkritya, President and CEO at Ananda Development Pcl. and Itthipat Peeradechapan “Tob Tao Kae Noi” CEO at Taokaenoi Food & Marketing Pcl. During its two years of operation, Creative Ventures’s first fund of US$11 million has already invested in some 10 companies such as Dishcraft, a startup in robotics innovation technology for kitchen that helps solve problems of workforce shortage in large scale of hotels, restaurants and entertainment business. It also invested in ALICE Technologies, the AI software for real-estate projects that help save cost and time of construction.