SET-listed InTouch Plc has broadened its venture capital funding sources for tech start-ups by providing financial assistance through a debt-to-equity swap scheme.
The new source of funds is expected to triple the number of its venture capital deals to 10 next year, said Thanapong Na Ranong, vice-president of InTouch.
Previously, the country's largest telecom company only provided financial support through a venture capital investment.
Under the new scheme, Mr Thanapong said InTouch would provide an interest-free loan to prospective tech start-ups for one and a half years. After that, InTouch will convert debt to equity.
InTouch in mid-2012 launched a 200-million-baht corporate venture capital fund to invest in promising companies in the fields of information technology, broadcasting content, telecoms and media.
InTouch yesterday signed its latest deal with online game company Infinity Levels Studio, providing a 15-million-baht loan under a debt-to-equity scheme. The loan will be used to develop an animal racing game, Ranch Run, scheduled to be launched next year.
Mr Thanapong said InTouch believed the global mobile gaming industry is on a massive growth pace with high potential. "We expect to provide financial support to seven companies in 2015, up from three this year," he said.
At least 100 Thai small and medium-sized enterprises have submitted proposals asking InTouch to fund projects.
INTUCH shares closed yesterday on the SET at 75.25 baht, up 25 satang, in heavy trade worth 1.24 billion baht.