AddVentures, the corporate venture capital (CVC) arm of SCG, is forging ahead its fund-of-funds investment by funding in Vertex Ventures, one of Southeast Asia’s largest and most established VC, in a bid to tap into opportunities for SCG and help build startup ecosystem.

Dr. Joshua Pas, Managing Director of AddVentures, said AddVentures has continued to invest through the fund-of-funds approach with the latest deal in Vertex Ventures SEA Fund III, the third fund under Vertex Ventures portfolio. It plans to continue its strategy of investing in top tier Series A technology companies in Southeast Asia and India, leveraging its expertise, deep research, and operating value add through its network.

“Through its first two funds, Vertex has backed the regions’ notable startups into its portfolios with the strategy of investing in early-stage disruptive technology companies, resulting in a good performance. At the same time, its strategy meets AddVenture’s direction, and that’s why we chose it,” said Dr.Pas.

In addition, the Fund has an expertise and a number of investment veterans across technology and venture capital spaces. While the fund will focus its investment in SEA and India network extends to the US, China and Israel, where Vertex operates a global VC platform with separate GPs (General Partner) for each country.

Dr.Pas said: “Fund III is the first fund with external Limited Partners (LPs). Its plan to invest in the top 20 startups throughout its maturity, creating investment opportunities in high growth companies in a follow-on round.

The move could lead to a co-investment between AddVentures and startups in Series A funding round.

AddVentures also seeks opportunities to access the enterprise technology startups through the commercial deals, enabling it to develop its key business and advance SCG’s pipeline products. It is believed that the investment could gain a positive direction of the company as well as a better startup ecosystem of Thailand and the region.

Recently, AddVentures has announced its first fund of funds investment through Wavemaker SEA Fund II, the second fund managed by the leading Southeast Asia’s VC Wavemaker Partners. The move was aimed to help develop B2B startups in the region.

AddVentures, a corporate venture capital arm of SCG, was officially launched on June 8. The establishment is to strengthen its potential and invest in startups nationwide and worldwide, fueling SCG to access innovation, increase competitiveness and better products and faster services for customers.

Its strategic investment will go towards direct investment in startups and also contributions into VC funds to tap into innovative startups in 3 verticals, including enterprise, industrial and B2B. AddVentures is looking for potential startups around the globe, such as Thailand, Southeast Asia, Silicon Valley (USA), Tel Aviv (Israel) and China that fits SCG business direction.

For those startups across the globe who are interested in joining hands with AddVentures, please browse www.addventures.co.th and facebook.com/AddVenturesbySCG or LinkedIn: ‘AddVentures by SCG’ for further