Thailand-based financial services firm Bangkok Bank (BBL) is considering establishing a venture capital unit, according to the Bangkok Post.
BBL’s board has already approved a ฿2bn ($57m) budget for investment in startups, though the bank has not decided whether it will set up a specialist fund to locate portfolio companies.
Two other Thailand-based banks, Siam Commercial Bank (SCB) and Kasikornbank, have already formed their own corporate venturing subsidiaries. SCB’s unit, SCB Ventures, was formally established last month with $50m in order to make strategic investments in fintech startups.