M8VC Co is a new venture capital fund set up in Thailand with plans to invest at least THB300M (about US$9.4 million) into innovative tech startups over the next year. The venture capital firm is founded by Ponthep Sethiwan, Shakrit Chanrunsakul, Pawoot Pongvitayapanu, Kit Arunanondchai, Sua Kanjanasakchat, Varut Bulakul, Permsiri Tiyavutiroj and Krisd Aksornwong.
Permsiri Tiyavutiroj and Ponthep Sethiwan, also known as Vincent, are part of the founding team behind Thailand’s latest co-working space, LAUNCHPAD. Pawoot Pongvitayapanu, one of the speakers at Echelon Ignite Thailand, is a mentor at LAUNCHPAD.
Vincent told Bangkok Post that M8VC aims to be “an engine to promote Thailand as an innovation hub in Southeast Asia”. According to Vincent, M8VC has two types of investment policies – incubator and venture capital.
M8VC’s incubator model will support the development of early-stage startups with investments ranging from THB300,000 to THB1 million. The venture capital model will focus on investments of at least THB10 million each. M8VC expects to have three to five incubated startups in 2013.
As a Thai-based venture capital fund, the firm would prefer to invest in Thai firms but would also consider foreign startups based in Thailand. M8VC has up to 30 foreign and Thai investors as well as venture capital firms in its investment network, most of which are based in Asia.
Image credits: Bangkok Post