Stock Exchange, CMDF and NIA Launch 1 Billion Baht PE Trust to Back New Economy Businesses
Corporate ActionRegulationIndustry
The Stock Exchange of Thailand, the Capital Market Development Fund, or CMDF, together with the National Innovation Agency, or NIA, and public and private partners, announced the establishment of a Private Equity Trust, or PE Trust, with initial capital of 1 billion baht to invest in New Economy businesses. At the same time, 15 higher education institutions and the holding companies of each institution jointly launched the University Holding Consortium to connect the potential and resources of universities in driving Deep-Tech businesses from research to commercial growth. Deputy Prime Minister and Minister of Higher Education, Science, Research and Innovation Yoschanan Wongsawat said the establishment of the PE Trust and the University Holding Consortium are two key mechanisms that help complete the ecosystem. Stock Exchange of Thailand Chairman Kitipong Urapeepatanapong said the PE Trust will fill the funding gap for innovative businesses to grow from the early stage to readiness for the capital market, while the Stock Exchange has proposed amendments to the law on dual-class share structures to the Ministry of Finance and the Ministry of Commerce so that owners of startup and New Economy businesses can still determine the direction of operations even after raising funds. The PE Trust aims to invest in New Economy businesses such as deep technology, digital and artificial intelligence, medical and health technology, and future agriculture and food technology, and will open applications for Trust Managers at the end of September.
