InVent, venture capital arm of the SET-listed InTouch Plc (INTUCH), will proceed with its planned expansion after a successful start.
The exterior perspective of Myanmar Event Park in Yangon.
The company recently paid 34 million baht for stakes in two firms.
It acquired 25% of Computerlogy Co, a social media management systems firm, for 29 million baht.
A 30% stake in Meditech Solution Co, a maker of eye-tracking communications device for the handicapped, was obtained for 5 million baht.
Krittika Mahattanakul, InTouch's executive vice-president for new business, said the company expects to invest in one more company this year.
A total of 79 investors and companies have asked InVent to partner with them, he said.
Before assuming responsibility for InVent, Mr Krittika worked at Nokia for 18 years.
InVent set up a 200-million-baht venture capital fund in mid-2012 to invest in small and medium-sized enterprises, mainly in the fields of telecommunications, media and digital content.
Last September, InVent sealed its first venture capital deal with Ookbee, acquiring a 25% stake in the digital publication firm for 57.8 million baht in a bid to tap the burgeoning e-book market. Ookbee now has 3 million subscribers, up by 50% from last year.
Mr Krittika said InVent will invest 200 million baht each year, with a minimum investment of 5 million baht per venture.
The company does not intend to engage in takeovers by acquiring majority stakes.
Meanwhile, InTouch chairman Somprasong Boonyachai said his group is preparing for the digital-TV licence auction.
It bought two bidding envelopes for standard-definition (SD) variety and children's channels while somewhat surprisingly passing up the chance for a licence to run high-definition (HD) programming.
But Mr Somprasong said InTouch has not yet decided exactly how many digital-TV channels it will bid for, pending a board decision.
The National Broadcasting and Telecommunications Commission plans to auction 24 licences of four types.
There are seven HD variety channel licences starting at 1.51 billion baht apiece, seven SD variety channel licences starting at 380 million, seven SD news channel licences starting at 220 million and three SD children's channel licences starting at 140 million.
Shares of INTUCH closed yesterday on the SET at 85.50 baht, down 3.75 baht, in heavy trade worth 3.29 billion.
About the author
- Writer: Komsan Tortermvasana
Position: Senior Business Reporter