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Siam Commercial Bank injects more money into venture capital fund

Siam Commercial Bank PCL has invested another US$50 million in its fintech-focused venture capital unit Digital Ventures Co. Ltd, bringing the total capital to US$100 million, online news Techsauce reported May 15, citing Arak Sutivong, chief strategy officer of the Thai bank.

The fund, the largest of its kind in Thailand, is also shifting its focus from investing in fund-of-funds to more direct investments, the report said.

Since it started in 2016, Digital Ventures has invested in both tech start-ups and venture capital funds, including Golden Gate Ventures, Dymon Asia Ventures and Arbor Ventures.