Multi-family office to allocate over $120 million USD to its Thai and Southeast Asian Private Equity Platform, 9 Basil
published : 15 Oct 2020 at 17:25
Investment firm Blueprint Forest launches new 9 Basil fund to help fuel Southeast Asian companies over course of pandemic
Bangkok - 15th October 2020: Blueprint Forest (BPF), a value oriented investment firm of a multi-family office, has today announced the allocation of $120 million to its South East Asian strategy 9 Basil to help fuel enterprises in Thailand and across the Southeast Asian region. Backed by respective families in Asia, 9 Basil’s 1st private equity fund intends to invest in businesses across the financial services, consumer brands, supply chain, and real estate sectors as well as distressed assets.
Mr. Schwin Chiaravanont, Co-Founder and Managing Partner of Blueprint Forest and 9 Basil said, “We have designed 9 Basil to become the strategic local partner of choice – at the nexus of several networks, independent and highly capable in deal execution. We seek businesses with strong leadership that are predictable, able to generate high returns on invested capital, and structurally downside protective. The majority of the fund will be invested into businesses in Thailand.”
The launch of 9 Basil brings BPF Group’s portfolio of funds to four, including Lossless Capital, Open Forest and Blueprint Forest. The group has increased assets under management by over $500 million USD since 2019.
Dr. Kris Panijpan, Co-Founder and Managing Partner of 9 Basil, said, “The heart of our fund is our research process. What we feel we must understand, we seek bedrock. We regard this as long-term opportunism. We build deep actionable knowledge- then take action when the timing is right. Our investments do not take place in an academic vacuum. We take the perspective of where we and our portfolio companies fit in with the social and economic networks in which we operate.”
Blueprint Forest manages capital for over 25 families from over nine countries. Over the course of the next five years, the company hopes 9 Basil will invest in approximately 2-3 quality businesses in Southeast Asia per year. Upon closing 9 Basil’s first private equity fund, they have announced its fund 1 advisory board which selectively includes some of the fund’s limited partners, including:
● Petch Osathanugrah, Osotspa PLC. and Bangkok University
● Prin Chirathivat, Central Group
● Kachorn Chiaravanont, 2W Group
● Gabriel Singson Jr, Oakdrive Venture
● Keiko Tashiro, Daiwa Securities Group Inc
● Christian Jason Chan, Harmony Assets Developments,
● Lim Kai Jia Kesley, K-ix Group
● Romani Boondicharern, Former Director of Grand Canal Land
To date, 9 Basil has made investments in a number of businesses including leading tech enabled consumer finance and insurance brokerage business Ngern Tid Lor Co. Ltd, and distressed debt management platform, Alpha Capital Co. Ltd, in partnership with CVC Private Equity and Ares SSG respectively.
“Sectors that we have leaned towards include financial services, real estate, and consumer brands. Ngern Tid Lor (“NTL”) is a good example of how we think about investing. While externally this portfolio company looks indistinguishable from many local branch-based lending businesses, behind the scenes NTL’s management team has built deep technology - and data-driven lending and insurance platforms with the goal of promoting financial inclusion and social impact. We seek to take a position on high quality industry leaders like NTL that will not only weather near-term digital disruption, but will also lead the way in shaping the development of their respective ecosystems,” Mr. Schwin added.
“9 Basil aims to open new markets and create synergies to continue to grow its portfolio companies into a new stage of growth. The companies we back will benefit from its strong network in Asia and we will provide ongoing business support. 9 Basil represents a new force in Southeast Asian capital,” Mr. Schwin concluded.
The Thai and Singaporean entrepreneurs, Mr. Schwin Chiaravanont and Dr. Kris Panijpan bring a wealth of expertise, knowledge and strong family connection to the fund, which aims to help companies grow through a disruptive COVID-19 business landscape. Mr. Schwin is the Co-founder and Managing Founder of Blueprint Forest and 2W Group, a renowned family office. He serves on the board of numerous businesses including Ngern Tid Lor, a 9 Basil portfolio company. Dr. Kris is an established Chartered Financial Analyst charter holder with extensive experience as both a corporate lawyer and investment banker.