AddVentures, the corporate venturing arm of Thai conglomerate Siam Cement Group (SCG), has been named new entrant of the year in the 2017 Global Corporate Venturing Asia Congress awards. The fund was set up in June this year and will be funded by SCG to the tune of up to $85m over the next three to five years.
AddVentures’ focus will be strategically aligned with that of its parent company. SCG is Thailand’s largest industrial conglomerate, operating in sectors that range from chemicals and construction materials to packaging and energy efficiency.
Dusit Chairat, corporate venture capital fund manager at SCG’s digital transformation office, said: “The aim of AddVentures is to invest in startups and venture capital funds in three verticals – industrial, business to business (B2B) and enterprise. We also want to enter into…
