The VC is led by Champ Suthipongchai, the first Thai venture firm founder in Silicon Valley
Silicon Valley-based VC Creative Ventures has announced the launch of its second fund — a US$50 million fund that will focus on deep tech companies in the US.
According to an official press release, Creative Ventures is a VC wants to address global issues, such as ageing populations, labour shortages, and climate change. To that end, it will laser focus on healthcare, industrial and agriculture tech companies.
Although Creative Ventures operates in the US market, it has connections to Southeast Asia. Its Managing Partner and Founder, Champ Suthipongchai, is from Thailand. His family runs Sharp in Thailand, and he is presently the company’s Chief Strategy Officer.
The first Thai VC firm founder in Silicon Valley said he wants to use Creative Ventures to bring deep technologies to Southeast Asian corporations.
Owing to that vision, Creative Ventures has attracted investors from Southeast Asia. One of them is Chanond Ruangkritya, the founder of Thai real estate developer Ananda Development PCL; and Sittichai Leeswadtrakul, the CEO and President of Thai steel firm Millcon.
“Creative Ventures invests in US-based startups that have technology that is not readily available in Southeast Asia and provides companies in Southeast Asia with exclusive access to the latest technologies, building a bridge between Silicon Valley and Southeast Asia,” said Suthipongchai, in an official press release.
Creative Ventures said it has a model to help deep tech startups build up their R&D or commercialisation capabilities, and help them partner up with corporations.
To date, Creative Ventures has invested in over 10 startups. One of them is Dishcraft, a startup that builds robots for commercial kitchens. It has also invested in ALICE, which develops AI software for construction firms, helping them to optimise construction scheduling.
Creative Ventures was able to bring ALICE’s technology to Southeast Asia through a partnership with Ananda, the aforementioned Thai real estate developer.
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Image Credit: Creative Ventures
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