By Enquistock

 

Total Access Communication Plc (DTAC) and True Corporation Plc (TRUE) came out to announce that they were going to set up a US$ 200 million of start-up fund that would invest in helping Thailand achieve more successful startups.

 

“We (Telenor & CP Group) would like to announce that we will set up a venture capital of up to US$ 200 million or 7.3 billion Baht to help build the confidence in the ecosystem,” Sigve Brekke, the global CEO of Telenor said in Bangkok.

 

This US$ 200 million is just the start and it could reach as high as US$ 1 billion as other businesses and investors may join the VC funding, Supachai Chearavanont, the CEO of TRUE added.

 

Full story: https://www.thaienquirer.com/42022/dtac-true-announce-7-3-billion-baht-vc-fund-to-help-spur-more-startups-in-thailand/

 

-- © Copyright Thai Enquirer 2022-07-23

 

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Good initiative. Let's hope the money is invested wisely.