Dream Ventures adds Thai partner
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Dream Ventures adds Thai partner

Mr Oak at the White House in Washington, DC.
Mr Oak at the White House in Washington, DC.

Dream Ventures, a US-based early-stage venture capital fund, is making inroads in Southeast Asia.

With more than US$500 million in assets under management, Dream Ventures boasts a robust portfolio and a track record of incubating ventures exceeding $400 million in value.

In one year, the fund recorded a return of more than 10% and returned 8% of its committed capital, with stronger performance anticipated in the second year.

Dream Ventures has 45 companies in its portfolio, ranging from consumer products and goods to enterprise software.

The fund recently announced Oak Suwanvichit as a new venture partner as it spearheads its expansion into Southeast Asia.

Mr Oak, a dynamic entrepreneur of Thai-Chinese ancestry, worked at T-Mobile and Apple in the business-to-business and retail sectors. He was inspired by mentors from Amazon, Apple, Microsoft and T-Mobile growing up in Seattle.

"We are excited to have Oak join our team, with more than 20 years of technology experience at leading companies like Apple and T-Mobile. His expertise will be invaluable in gauging the latest technology trends, evaluating talent and creating waves for the fund in the dynamic Thai market," said Richard Blankenship, founder and general partner of Dream Ventures.

"We have great confidence in Oak's ability to help us build the best technology stack, source top local talent and drive innovation and growth."

The fund is making a strategic effort to drive growth and innovation across the region, tapping into high-potential opportunities and fostering a dynamic startup ecosystem, said Mr Blankenship.

Mr Oak will lead the firm's efforts in the region, he said.

Mr Oak addressed a goal to empower Thai entrepreneurs and elevate Thailand's tech innovation prowess on the global stage.

"Why not us?" he said, emphasising Thai ingenuity and work ethic, especially in the coding community.

Dream Ventures wants to contribute to Southeast Asia's rapidly growing startup ecosystem, bringing its expertise and resources to foster innovation and growth of regional partners.

In another development, Mr Oak said he is partnering with WES Brands to bring premium beverages to the forefront of global markets.

"As WES Brands continues to dominate the alcohol industry, we are thrilled to have Mr Oak at the helm of our Southeast Asia operations. With his leadership, we are confident in our continued success and growth in this key market," said Kyle Stein, president of WES Brands.

"The Thai economy is growing at an impressive rate, and we see huge potential for the elevation of premium spirit brands. With Mr Oak's knowledge of the Thai marketplace, work ethic and massive network, we believe the sky is the limit in Thailand."

The company has endorsements from celebrities including Gal Gadot, Jamie Foxx and Michael Buble.

Mr Oak is evaluating local partnerships in Thailand, aiming to enhance the region's appreciation of luxury brands.

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