AddVentures by SCG has announced its initial investment in the top-tier ASEAN Venture Capital fund WAVEMAKER PARTNERS, aimed at supporting B2B startups in the region and enhancing the overall startup ecosystem.

Dr. Jachchua Paes, Managing Director of AddVentures, revealed that AddVentures has commenced its investment in a Fund of Funds through its first Venture Capital investment in the Wavemaker SEA Fund II, which is the second fund of Wavemaker Partners focused on investing in B2B startups at the Seed Stage to Series A Stage in Southeast Asia.

“We chose to invest in Wavemaker Partners because it is a reputable Venture Capital firm with a proven track record of helping several startups in its portfolio reach their goals or achieve an exit. Both we and Wavemaker share a common interest in investing in B2B startups and Deep Tech Startups, and we hope to collaborate and leverage SCG's network to help these startups grow,” Dr. Jachchua stated.

Wavemaker Partners is part of the Draper Venture Network (DVN), a global alliance of Venture Capital firms with over 17 leading Venture Capital networks, connecting entrepreneurs and investors worldwide.

Dr. Jachchua further mentioned that Wavemaker SEA Fund II focuses on building a large portfolio to invest in 80 high-potential B2B startups throughout the fund's duration and create follow-on investment opportunities in companies with strong growth prospects. This investment will significantly benefit AddVentures' co-investment at the Series A level.

Additionally, the strategy aligned with AddVentures' investment direction provides opportunities to access innovative B2B startups, which may lead to the development of new businesses for SCG. Currently, AddVentures and SCG have begun testing commercial partnerships with some startups that Wavemaker has already invested in, confident that these efforts will positively impact the company's direction and the growth of the ecosystem in Thailand and Southeast Asia.

AddVentures by SCG officially launched on June 8, with the primary objective of enhancing capabilities and investing in startups both in Thailand and globally, allowing SCG to connect new innovations to boost its competitive edge and provide consumers with better and faster products and services, ultimately improving their quality of life. The plan includes investments through funds (Venture Capital) and direct investments in startups in Thailand, ASEAN, and global technology hubs such as Silicon Valley in the USA, Tel Aviv in Israel, and Shenzhen in China, focusing on technologies that address three main sectors: 1. Enterprise 2. Industrial 3. B2B, which align with SCG's core business sectors: 1. Cement and construction products 2. Chemicals 3. Packaging.

Thank you for the information from www.addventures.co.th