Thailand has emerged as a dynamic startup ecosystem in the Asia-Pacific region, distinguished by its strategic reforms, digital transformation initiatives, and robust economic foundation. As ASEAN's second-largest economy, Thailand offers startups a compelling combination of market opportunity, government support through initiatives like Thailand 4.0, and growing venture capital interest. The Thai startup landscape has attracted significant attention from both regional and international investors, with prominent venture capital firms and angel networks actively seeking opportunities in sectors ranging from fintech and e-commerce to agritech and digital healthcare, while Bangkok establishes itself as a key innovation hub, supported by a young, tech-savvy population and increasing corporate venture capital participation. In this article, we have compiled a comprehensive list of the top VC funds and angel investors in Thailand that may be the right funding partner for you!
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Venture Capitalist Funds in Thailand
The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2011
Stage: Seed
Focus: E-Commerce, Information Technology, Advertising, Marketing, Internet
Notable Portfolio: Steamchain Corp., Gheorg, Natral, Bellugg, Cloud Commerce
Originally hailing from Singapore, Expara is a leading venture development firm in Southeast Asia with presence in Thailand and Vietnam. They are not only involved in venture capital activities, but they also provide various acceleration and venture services. They collaborate with entrepreneurs and executives in public and private organizations to build entrepreneurial success through high-tech, high-growth companies.
Year of Inception: 2012
Stage: Seed
Focus: Technology
Notable Portfolio: Chilindo, Rabbit Care, Nutrition Technologies, Sirius, APX
Alpha Founders Capital is a venture capital firm that concentrates their investments in Indochina, particularly in Thailand and Vietnam. They invest in the late seed stages and focuses on industries of interest to Asian family conglomerates. As part of their portfolio, they will collaborate with founding teams, advise them on various key topics, and connect them to their network.
Year of Inception: 2006
Stage: Seed, Series A
Focus: E-Commerce, Software, Internet, Mobile, Information Technology
Notable Portfolio: Seekmi, Mercular, Priceza, Vexere, Ralali
Originating from Japan, CyberAgent Capital is a leading investment firm with eight established bases across Asia. They invest heavily in entrepreneurs as partners from the seed stage through the early stage of their businesses, providing specialized incubation skills to help startups expand quickly and steadily.
Year of Inception: 2012
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: XCommerce, Sok Chan, Mali, Page365, Skootar
Established by a group of people that believe in innovative ideas and technologies, Galaxy Ventures invest in startups with technologies that can help people live better and easier lives. Their experienced team are dedicated to assisting their portfolio firms at every stage of startup journey and in overcoming any obstacles that may arise.
Year of Inception: 2002
Stage: Seed, Series A, Series B, Series C
Focus: Sector Agnostic
Notable Portfolio: Carsome, GogoX, AutoX, Beam, FutureHub, Deliveree
Located across 15 countries, Gobi Partners is one of the biggest Pan-Asian venture capital firm with US$1.6 billion in assets under management. Their entrepreneurs are frequently pioneers or early movers in new sectors and technology addressing Asia's most pressing issues. To date, they have invested in over 380 companies across key markets, resulting in 10 unicorns under their belt.
Year of Inception: 2020
Stage: Series A, Series B, Series C
Focus: Blockchain, Digital Asset, Metaverse, Web 3.0
Notable Portfolio: BlockFi, Axelar, Currencycloud, Seekster, Safe
SCB 10X was founded with the goal of establishing corridors for technological discoveries through exponential thinking and innovation. They invest in opportunities via two devices: venture capital and venture builder. They seek for enthusiastic and ambitious entrepreneurs who are building outstanding firms at the cutting edge of technology.
Year of Inception: 2010
Stage: Series A, Series B, Series C
Focus: Health & Wellness, Technology, Manufacturing, Food, Beverage & Hospitality, Distribution, Agriculture
Notable Portfolio: IBS Beauty, Criterion Asia Recruitment, Primal Health, Protanica
Stonelotus Ventures was founded with the mission to provide entrepreneurs and early-stage enterprises with growth capital and managerial depth to build value. Unlike typical venture capital funds, Stonelotus syndicates investors on a transaction-basis and act as a custodian on behalf of the investor pool, with Stonelotus' principals also co-investing in each business to ensure alignment.
Year of Inception: 2014
Stage: Series A, Series B, Series C
Focus: Manufacturing, Media and Publishing, Education, Technology and Communication, Medical, Agriculture and Livestock, Food, Pharmaceutical, eCommerce
Notable Portfolio: RoadHow, Rian English, Feed2Us
Unigin Ventures is a subsidiary of Thaiace Group, a Thai non-bank financial services company. Unigin was founded to assist Thai entrepreneurs grow through investment assistance and guidance in a variety of industries.
Year of Inception: 2014
Stage: Series A, Series B, Series C
Focus: Technology, Consumer, Healthcare, Finance, Enterprise
Notable Portfolio: Biofourmis, Love Bonito, Finnomena, Trade Gecko
Co-headquartered in Singapore and Jakarta with offices in Bangkok, Manila, and Ho Chi Minh City, Openspace Ventures invests in and supports startups in Southeast Asia. They invest in startups that have a disruptive impact where technology meets life. By leveraging Active Intelligence, they have helped portfolio firms in accelerating their advancement.
Year of Inception: 1988
Stage: Series A, Series B
Focus: Consumer, Enterprise, FinTech, HealthTech, AgriTech
Notable Portfolio: Abacus Digital, Sunday, Sirclo, Grab
With the goal to construct the next global giants in Southeast Asia and India, Vertex Ventures is dedicated to investing in firms and assisting entrepreneurs in addressing humanity's most pressing issues through technology. They work as trusted partners to entrepreneurs, providing unrivaled operational experience as well as deep access to the finance, talent, partners, and consumers required to establish global firms.
Year of Inception: 2011
Stage: Seed
Focus: Artificial Intelligence, eCommerce & Marketplace, Entertainment, Finance, Food, Insurance, Logistics, Media, Property, Sports, Islamic Digital Economy
Notable Portfolio: 99.co, Carousell, Carro, Glife, Hepmil, Oddle, Shopback
Since their founding, Quest Ventures has been focusing on an overall 'digital economy' strategy in Asia. They operate a few venture capital funds through which they invest in early-stage startups. Aside from venture capital activities, they also operate accelerator programs
as well as other corporate innovation and digital transformation initiatives.
Year of Inception: 2018
Stage: Series A, Series B, Series C
Focus: Consumer, Channel (Supply Chain), Enterprise
Notable Portfolio: Buzzebees, Happyfresh, Chope, 2C2P
Singha Ventures is the corporate venture capital arm of Singha Corporation and Boonrawd Brewery Group, a Thai conglomerate with presence in various food and lifestyle industries. Leveraging their well-established network of distribution network and retail touchpoints, they assist startups in accelerating their growth.
Year of Inception: 2017
Stage: Series A, Series B, Series C
Focus: E-commerce, Logistic, Fulfillment and Supply chain, Digital E-wallet, Online and Offline Payment, Blockchain, Lending, Robo and Wealth Advisor, Insurtech, Personal and Business Management, Artificial Intelligence/ Machine Learning, Cross Border Remittance, Cybersecurity
Notable Portfolio: Finnomena, Silot, Grab, Peak, ADDX, Baania
Krungsri Finnovate is the corporate venture capital arm of Bank Ayudhya, the fifth largest bank in Thailand. Their core mission is to provide investments in startups with a strategic connection to the bank's business. They work with startups through strategic partnerships to provide unique finance solutions and promote sustainable growth for the startups.
Year of Inception: 2017
Stage: Series A, Series B, Series C
Focus: FinTech, Consumer Internet, Enterprise Technology
Notable Portfolio: Alchemy, Carro, Digio, FlowAccount, Jitta, Workmate
Beacon VC is a corporate venture fund of the Kaisornbank, a top Thai commercial bank. They focus on strategic investments in early to growth-stage technology startups relevant to the bank's primary business across Southeast Asia. They aim to collaborate with startups to lay the groundwork for technological breakthroughs and improve business practices in the banking industry.
Year of Inception: 2017
Stage: Series B, Series C
Focus: Technology, Industrial Enterprise, B2B
Notable Portfolio: Baania, Ralali, Printerous, Janio, Seekmi
Backed by one of Southeast Asia's leading industrial conglomerates, Addventures is a corporate venture arm that invests in tech startups in the Industrial - B2B - Enterprise sectors. With operations in cement and constructions materials, chemicals, packaging, transport, and trade, SCG leverages their large network and resources in Southeast Asia to advance the growth of their portfolio firms.
Angel Investors in Thailand
The Angel investors listed below are part of an Angel community located throughout Thailand. They may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Thailand Business Angel Network (TBAN) is a group of angel investors who specialize in various sectors and have a wide range of expertise. Through the association, startups may get in touch with their angel investor members. The association also offers startup members activities such as startup development expertise, company incubation, mentorship, business matching, and pitching activities.
Closing Thoughts on VCs and Angel Investors in Thailand
Though Thailand has only grown recently, the country has taken significant strides toward assuring the ecosystem can reach its full potential. With a concerted effort by ecosystem players and the government and given Thailand's strong economy, venture capitalists and angel investors have started to notice Thailand's enormous potential. Moving forward, the future appears to be bright for startups in Thailand.
Find VCs and Angel Investors in Southeast Asia:
Frequently Asked Questions on VCs and Angel Investors in Thailand
What are typical investment ranges for Thai venture capital and angel investments?
Thai VC investments typically range from ฿15M-฿150M ($450K-$4.5M) for early-stage rounds, while angel investments range from ฿1.5M-฿15M ($45K-$450K). Key players include Krungsri Finnovate, SCB 10X, and 500 TukTuks. Series A rounds often exceed ฿300M ($9M), with increasing participation from both regional and international investors.
Which sectors are driving Thailand's venture capital investments?
Priority sectors include fintech (particularly digital payments and lending), e-commerce enablement, food tech, agritech, and travel technology solutions. The ecosystem particularly values startups addressing Thailand's digital transformation needs and those leveraging the country's strong tourism and agricultural sectors. Strong emphasis is placed on companies with potential to expand across Southeast Asia.
How do foreign startups access Thailand's startup investment landscape?
Foreign startups can enter through Board of Investment (BOI) incentives, startup visa programs, or partner with local accelerators like SPACE-F and True Digital Park. Understanding SEC regulations and building relationships with Thai VCs is crucial. Many successful entries come through corporate accelerator programs run by major Thai conglomerates.
What unique advantages does Thailand's startup ecosystem offer?
Thailand provides various incentives through Thailand 4.0 initiative, strong infrastructure support, and strategic location within ASEAN. The ecosystem benefits from active corporate engagement, particularly from banking and retail conglomerates, offering startups access to large customer bases. Government support includes tax incentives, grants, and regulatory sandboxes for innovative solutions.
What are key due diligence requirements for Thai startup investments?
Due diligence emphasizes business model validation, market traction, and regulatory compliance. Investors focus on team composition, particularly local market understanding and execution capabilities. Understanding Foreign Business Act requirements, proper documentation of corporate structure, and compliance with SEC regulations are crucial for securing investment.
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