Andy Ting is US-based head of strategic planning and portfolio management who leads GC Ventures America, the corporate venture capital (CVC) arm of GC International Group, a subsidiary of Thailand-listed petrochemical producer PTT Global Chemical (GC).
With assets over $15bn, GC produces more than 11.2 million tonnes per annum of aggregate capacity across the chemicals value chain. Its businesses cover manufacturing and distribution of upstream, intermediate and downstream petrochemical products.
These products can be converted into other chemical products and serve as a basic feedstock for downstream industries such as packaging, apparel, communications and electronic equipment, electrical appliances, vehicles, construction materials, engineering-based plastics and agricultural equipment.
Headquartered in Houston in the US state of Texas, GC International focuses on cross-border expansion for its parent firm. It has invested in more than $1bn in global assets including green, speciality chemicals and early-stage technology companies. The unit continues to identify new growth opportunities, through tools such as new acquisitions, joint ventures, greenfield developments and CVC investments.
In October 2020, GC Ventures America joined investors including fellow corporate venturing units Ireon Ventures and Henkel Adhesive Technologies – the last two on behalf of oil refiner Hellas and industrial and consumer product conglomerate Henkel – to back a $12m round for protective nanocoating developer Actnano. The round was led by investment firm Emerald Technology Ventures and backed by venture capital firm Material Impact.
GC Ventures also made a limited partner (LP) commitment to Emerald Technology Ventures’ Industrial Innovation Fund (EIIF), whose LPs also include corporate investors such as petroleum refinery operator Tüpraş, liquid ink producer DIC, Henkel Adhesive Technologies, Caterpillar Ventures and Chevron Technology Ventures, the last two representing construction equipment producer Caterpillar and oil and gas producer Chevron.
Ting joined GC International in 2019 from the parent firm, having spent more than two decades in the chemical and energy industry space with experience in investment project execution, including joint ventures in the Asia-Pacific region and business acquisitions in the United States and Europe. He also held executive roles in portfolio management, corporate strategy and business planning.
Prior to joining GC in early 2011, he had been a senior business development manager for Asia and South Pacific at industrial gases and engineering firm The Linde Group for three years and a half from 2007.
Before that, Ting had spent nearly seven years at gas, chemicals, equipment supplier BOC in various roles: planning manager, senior finance manager and commercial director.
Ting holds a bachelor’s degree in chemical engineering from Cooper Union for the Advancement of Science and Art, a master of science in chemical engineering from UC Berkeley and an MBA in industrial administration from the Tepper School of Business at Carnegie Mellon University.
