Canvas Ventures, a multi-family venture capital (VC) office, is targeting megatrends in deep tech, creative tech, climate change, and LGBTQ+.
It is Thailand's first venture capital (VC) platform to supports opportunity via the cultural and creative industries, or the so-called orange economy, and inclusivity and human rights, or the so-called pink economy, according to the company.
It aims to bridge international investment from Europe and Asia to enable Thailand to develop an international startup ecosystem.
Thailand's innovation ecosystem has huge potential to have a global impact, said Pun-Arj Chairatana, chairman of Canvas Ventures and a former executive director of the National Innovation Agency.
"We are the next gen of VC, which gathers multi-family investors to fill a gap of investors where Thailand has a lot of corporate venture capital [CVC]," said Mr Pun-Arj.
"We do not just provide funding but also experienced mentors and access to the international market. The firm will leverage a dynamic network of co-founders, board members and visionary investors to foster a collaborative investment approach," he added.
Mr Pun-Arj said the VC firm will invest in startsups in the early and growth stages such as those in Series B, mainly in Thailand and Asia. The size of each deal could be between US$500,000 and $1 million. It would also be able to jointly lead an investment with other sources of private equity in larger deals.
The VC firm will invest in the megatrends of green tech, silver ageing, the creative economy, the pink economy, and deep tech.
"We view Bangkok as a neutral hub for fostering international collaboration in technology and innovation."
He added that Canvas has connections with Chinese tech firms as well as with French and other European investors. Strategically positioned, with a headquarters in Bangkok and an office in Paris, Canvas serves as a bridge for investors seeking to capitalise on Southeast Asia's growth.
Alix Andlauer, a renowned French entrepreneur, co-founder and managing partner of Canvas Ventures, said the company envisions a future in which Thailand becomes a regional and global market. Canvas will help French and European investors who are interested in Thailand's entrepreneurs access quality deals.
"We will bridge the investment from both Europe and Southeast Asia," he said.
Mr Pun-Arj added that France is putting innovation to the fore and supporting aerospace, creating an opportunity for Thailand's aviation, aerospace and defence sectors.
Gavin Vongkusolkit, a board member of Canvas Ventures, said the company has US$20 million to invest over a period of 5-10 years and the targeted annual investor return will be 12-15%.
Mr Gavin said Asia's creative economy is poised for tremendous growth, with projections forecasting it to be worth $2.6 trillion by 2025.
"The real opportunity lies in bridging the gap between deep tech and creative tech. By leveraging Asian research, embracing diverse movements, and capitalising on urbanisation and the creative economy, this fusion can unlock commercially viable and socially impactful solutions," Mr Gavin noted.
Tanachai Kulsomboonsin, a co-founder of Canvas Ventures, added that the pink economy, driven by LGBTQ+, is growing worldwide.
The value of the global LGBTQ+ industry is predicted to reach $3.7 trillion by 2025, with Asia playing a significant role in this growth.
However, fewer venture capitalists are targeting this segment and exploring LGBTQ+ startups and their needs.
"We believe in Bangkok's unique potential to become a global investment hub for the pink economy," said Mr Tanachai.
Noting that a "startup and venture winter" is persisting this year due to high interest rates, Bunsak Sriprasertying, another member of the board of Canvas Ventures, added that the startup situation is likely to improve. Investors are cautious concerning investment but are looking for resilient sectors such as deep tech, AI, healthcare, finance, climate tech, and aerospace.