Kejora Ventures, an Indonesian VC firm with a presence in the Philippines and Singapore, has opened an office in Bangkok in Thailand.
The Bangkok office will strengthen Kejora Ventures’ goal of helping entrepreneurs succeed in the technology arena by expanding their access to strategic partners and investors in Southeast Asia, the VC firm said in a statement.
“We see a lot of potential in the tech startup scene in Thailand and want to be at the forefront of supporting corporate innovation in the country,” said Sebastian Togelang, Founding Partner of Kejora. “Thailand is a natural extension of our vision of setting up a tech community that will work together to share our knowledge.”
Thailand, the second-largest economy in Southeast Asia after Indonesia, is well-placed to take advantage of a global digital wave transforming economies and societies. The Thai government is supporting the startup ecosystem with a 20 billion baht venture fund that it announced last year. Half of the amount will go towards technology startups.
“In the year of 2017, there will be more consolidations happening. It is time for the leading companies and corporates in ASEAN countries to join forces and together support building regional leaders in the tech sector. With our strong network in Southeast Asia and its robust economy, we want to help make it happen,” Togelang added.
Set up in 2014, Kejora focuses on investing in, building and growing highly-scalable tech companies. The VC firm recently announced it has raised about one-third of the target fund size of US$80 million at the first close of the Kejora Star Capital II Fund, drawing strategic investors such as the Barito Pacific Group, the Charoen Pokphand Family and Hubert Burda Media.