US-based venture capital firm Creative Ventures (CV) yesterday announced the launch of its second fund targeting Silicon Valley-based startups operating in the industrial, agricultural and healthcare sectors.
The company plans to raise funds worth US$50 million (167 million baht) from Bangkok-based firms to invest in sophisticated technological startups engaging in those three sectors, said managing partner Champ Suthipongchai.
CV believes investment in fields which are dealing with global issues will deliver superior financial returns, he said.
"With most countries facing a shift in population distribution toward older ages, demand for quality and cost-effective healthcare will outstrip the ability to provide healthcare solutions," said Mr Champ.
For the industrial sector, businesses such as construction and manufacturing are facing significant labour shortages and need to increase production efficiency, he said.
A combination of reduction in crop yield because of climate change and increased demand from a growing global population means the world will need 35% more food and 40% more water in 2040 compared with today, said Mr Champ.
Deep technology innovations are defined as disruptive solutions built around unique, protected or hard to reproduce technological or scientific advances, he said.
"We see applications of [sophisticated] technology in fields including artificial intelligence [AI], robotics, computer vision, advanced sensing, energy and synthetic biology," said Mr Champ.
Companies are under tremendous pressure to harness today's wealth of technology to create value across sectors and markets, he said.
"This is why CV invests in US-based startups, giving us technology that is not readily available here, allowing us to provide companies in the region with exclusive access to the latest developments, building a bridge between Silicon Valley and Southeast Asia," said Mr Champ.
"We work with unique founders, those that have developed and built their careers in specific industries and are ready to apply their knowledge to solve deep and challenging problems."
Those investing in the fund will not only enjoy financial returns, but also get access to cutting edge technology and opportunities in Silicon Valley, he said.
Meanwhile, partner Alastair Trueger, a second-generation venture capitalist, said CV's advantage comes from its partnerships with both startup founders and corporations.
Among CV investments are Dishcraft, a stealth kitchen robotics startup and Alice Technologies, a company building AI software that optimises construction scheduling.
The latter saves up to 4% on costs and reduces construction time by 14%, leading to considerable savings for both developers and construction companies, he said.
CV has brought Alice's technology to Southeast Asia and forged a partnership with Thai property developer Ananda.
