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Last week, Bangkok-based Shift Ventures launched new angel investor network 1000x Club, which aims to bring in a group of “high potential, value-adding” investors who are looking to build up or extend their startup investment confidence and portfolios.

The network claims to bring in 30 honorary members, with each member committing US$1 million for investment.

“The creation is aimed at strengthening the ecosystem of the local technology startups and small and medium-sized enterprises, to push them towards new the value-based economy model dubbed Thailand 4.0,” said Worawisut Pinyoyang, Managing Partner at Shift Ventures, as quoted by Bangkok Post.

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Notable members of the angel investor network includes Dr. Kongkiat Opaswongkarn (Asia Plus Group Holdings), Aitthipat Kulapongvanich (Tao Kae Noi), Sura Khanittaweekul (Com 7), Rit Thirakomen (MK Restaurants), and Suvabha Charoenying (Thanachart Securities). The network itself will be led by Dr. Opaswongkarn and Charoenying.

The angel investor network also includes a two-month mentoring programme, which is set to be held in January 2017.

However, Pinyoyang pointed out that Shift Ventures is not a venture capital fund that asks angel investors to put their own finance into an early stage startup.

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“We position ourselves as a business consulting and matchmaker for angel investors, startups, and small companies,” he explained.

The angel investors themselves will decide how much they are willing to invest, and whether they wish to be involve in managing the startup. They are even allowed to bypass Shift Ventures and negotiate directly with startups.

Shift Ventures itself will play a role in assessing the risk return profile of the potential startups.

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The angel investor network will complement Shift Ventures’ existing programmes for the Thai startup ecosystem, which consists of two-month mentorship programme Founderhood Club and a partnership with coworking space Glowfish.

Startups that have received investments from 1000x Club will be mentored by Founderhood mentors which includes Shakrit Chanrungsakul (FireOneOne), Sansern Samaisut (Ascend Group), Itthipat Kulapongvanich (Tao Kae Noi), and Patai Padungtin (Builk).

The network aims to invest in 10 Thai and regional startups within this year, particularly in the retail, F&B, property, healthcare, fintech, travel, and education sector.

Based in Bangkok, Shift Ventures was founded by Pinyoyang, Gavin Opaswongkarn, and Wilert Orawanwong.

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