AAA InTouch reaches out to startups

InTouch reaches out to startups

Stock Exchange of Thailand-listed telecommunications firm InTouch Holdings intends to invest ฿200m ($6.3m) in seven startups this year, DealStreetAsia has reported.

InTouch already participates in corporate venturing through InVent, the unit it launched in 2012 with an investment mandate that covers technology, media and telecommunications (TMT), blockchain, artificial intelligence and the internet of things.

InVent’s portfolio companies include customer relationship management and point-of-sale technology developer Choco CRM, digital ticketing provider Event Pop and mobile payment startup Digio.

The corporate is in the process of completing the due diligence process for investments in four startups that are set to receive approximately ฿125m ($3.9m) altogether.

Tomyantee Kongpoolsilp, vice-president of investor relations for InTouch, said: “All four deals are set to close within this year. In addition to ฿200m, we have around ฿1.8bn in cash. Should we find more attractive deals, we are ready to invest.”

By Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.

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