Krungsri Finnovate, in partnership with EfraStructure, has introduced the “Finno Efra Private Equity Trust,” a fund set to invest 1.3 billion baht (around $35 million USD) over the next four years in startups throughout Thailand and ASEAN. The fund will concentrate on startups in the seed to pre-Series A stages, emphasizing sectors that drive digital transformation and deliver impactful solutions. Initial talks are already in progress with 5-6 prospective ventures.
The fund intends to allocate 60% of its investments to Thai startups and the remaining 40% to startups in other ASEAN countries. Investment amounts will range from 8 million to 40 million baht, designed to support the growth of early-stage companies. In addition to the fund, Krungsri Finnovate and EfraStructure will launch an Accelerator Program aimed at guiding startups from the Seed stage to Pre-Series A, with the goal of achieving stable growth towards Series A. This program will offer extensive support to help startups navigate the challenges of scaling their businesses effectively.
Sam Tanskul, Managing Director of Krungsri Finnovate, stated that the partnership will target startups across various sectors including fintech, agritech, edtech, martech, lifestyle tech, e-commerce, HR tech, industrial tech, and mobility tech. He noted that the fund is particularly interested in startups at the seed to pre-Series A stages, which already demonstrate a product-market fit and generate consistent revenue, with some earning at least 10 million baht annually. Over the next four years, the goal is to invest in 50 startups across Thailand and ASEAN.
This fund is a shared vision between Krungsri Finnovate and EfraStructure to support early-stage startups in Thailand, where investment at these stages is crucial yet often scarce. The initiative is expected to help in nurturing the growth of Thai startups and strengthening the country’s startup ecosystem. Additionally, the fund is set to provide a much-needed boost to the region’s innovation landscape by channeling resources into emerging ventures.
The Finno Efra Private Equity Trust, recently announced, is being designed for ultra-accredited investors with a minimum investment requirement of 500,000 baht. Currently, the fund is seeking approval from the Securities and Exchange Commission and will be offered through a trust. The trust aims to diversify the range of alternative assets in the Thai market and is anticipated to launch its initial public offering (IPO) early in the fourth quarter of this year.
Alongside the fund, Krungsri Finnovate and EfraStructure are introducing the Finno Efra Accelerator Programme to connect investors with startups. This four-month program will accommodate ten startups per cohort, providing them with access to funding opportunities and a wide network of investors. The accelerator will offer a thorough curriculum, utilizing the networks and expertise of both organizations to help participating startups maximize their potential.