Vertex Ventures SEA/India Fund III receives first Thailand based investment from Thailands KASIKORNBANK

Stocks and Financial Services Press Releases Tuesday September 5, 2017 10:13
Bangkok--5 Sep--KASIKORNBANK
Vertex Ventures Southeast Asia and India ("Vertex SEA/India") is pleased to announce KASIKORNBANK (KBank) as its first Thailand Limited Partner (LP) and the first Bank investor for the Fund III.

Ms Kattiya Indaravijaya, KBank President, revealed that "KBank is proud to partner with Vertex Ventures. We recognize the team's vast experience and successful formula in earlier investments, such as Grab where Vertex is the first institutional investor." She further adds "besides providing insights into frontier opportunities in the region, Vertex's global network enablesKBank to leapfrog into the world arena and be kept abreast of innovative technology and business models in other geographies too."

KBank, one of the largest banks in Thailand, has recently launched Beacon Venture Capital, a new organization which invests into Venture Capital Funds and startups with financial innovations that align with KBank's strategies. The initial capital of Beacon VC is 1 billion Baht; its investment policy includes direct investments in Thai and foreign startups, and investments via leading VC funds. The company is led by Mr. Thanapong Na Ranong as Managing Director.

As Mr Kee Lock Chua, Managing Partner of Vertex SEA/India, observed, "We are pleased to have KBank as our LP. Through its customer-centric strategy, KBank is progressive in adopting new technologies and financial innovations to satisfy the diverse needs of its customers. We see a lot of synergies in working with KBank to tap into innovative opportunities in Southeast Asia and India where this fund is investing. We have seen a sharp increase in capital being deployed in start-ups in this region, growing from US$100m in 2008 to US$2.5billion in 2015. Over 50% of this is invested through Singapore-incorporated startups. With more countries like Thailand, Indonesia and Malaysia accelerating their support for the start-up and Venture Capital ecosystem, we are confident that this region will continue to see significant growth.

Fintech is one of the target focus areas for this fund, as digital technology unlocks value in the financial sector. Vertex SEA/India has invested in various fintech opportunities including Instarem, an international online remittance platform; Validus, an SME lending platform; and Turnkey Lender, a cloud-based bank-grade loan management platform. Mr Chua is ambitious about this prospect: "We intend to tap on KBank's knowledge as we invest in the Fintech sector in the region."

Vertex Ventures SEA Management, licensed by Monetary Authority of Singapore (MAS), raises this latest fund on the heels of multiple growing successes in its previous portfolios, most notably, Grab, which raised US$2.5 billion from Softbank and Didi Chuxing in July 2017. Vertex SEA/India is also the first institutional investor in notable companies in the region including Patsnap, M17/Paktor and Reebonz. Fund III will continue Vertex's strategy of investing in promising, disruptive and transformational opportunities and build them into global champions. On the back of its track record and leading position in the region, Fund III has exceeded its original target fund size of US$150M. It is now working towards final closing.


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