Beacon Venture Capital Company Limited (Beacon VC), the venture capital arm of KASIKORNBANK (KBank), and the Global Green Growth Institute (GGGI) Thailand have signed a memorandum of understanding to promote startups and support the growth of climate technology innovations. The partnership aims to strengthen the ecosystem for climate tech innovations, preparing startups for fundraising, business expansion, and funding opportunities. Building upon their ongoing collaboration, Beacon VC and GGGI are now working on establishing a Climate Tech Equity Trust Fund, dedicated to investing in climate tech startups to combat climate change.
Mr. Thanapong Na Ranong, Managing Director of Beacon Venture Capital Company Limited (Beacon VC), said, "Beacon VC's investment policy aligns with KBank's strategy, including the effort to advance its business under the principles of a Bank of Sustainability. As a result, Beacon VC has a policy of supporting investment for startups to develop sustainability-focused technologies through the Beacon Impact Fund, which was established in 2020. This collaboration will catalyse additional investment in Thai climate tech startups and empower Thailand to achieve its net zero goals by 2065."
Dr. Frank Rijsberman, Director-General of the Global Green Growth Institute (GGGI) Thailand, stated, "The GGGI will continue to support the climate tech startup ecosystem in Thailand. This MoU between GGGI and Beacon VC marks a significant step in accelerating sustainable finance and fostering green innovation development in Thailand, on top of our ongoing collaboration in the establishment of the Climate Tech Equity Trust Fund."
Under the MoU, the two organizations will jointly develop initiatives and programs to enhance the ecosystem for climate tech innovation, including knowledge sharing, capacity building, advocacy, and awareness-raising to improve the readiness of climate tech startups to secure investment, scale their operations and attract further investment.