Creative Ventures, a Silicon Valley-based venture capital has announced the launch of its second fund – a US$50 million fund that will focus on deep tech companies involved in sectors like healthcare, industrial, and agricultural tech.
Although Creative Ventures mainly operates in the United States market, it has connections to Southeast Asia through its Managing Partner and Founder, Champ Suthipongchai which comes from Thailand.
Champ Suthipongchai and his family runs Sharp in Thailand and he is presently the company’s Chief Strategy Officer. According to the first Thai VC firm founder in Silicon Valley, he wants to use Creative Ventures to bring deep technologies to Southeast Asia corporations.
To achieve this, Creative Ventures said it has a model to help deep tech startups build up their R&D or commercialization capabilities, and help them partner up with corporations in Southeast Asia.
“Creative Ventures will invest in US-based startups that have technology which are not readily available in Southeast Asia, providing companies in Southeast Asia with exclusive access to the latest technologies and building a bridge between Silicon Valley and Southeast Asia,” explained Suthipongchai.
Many Southeast Asian investors have also participated in his vision, including Chanond Ruangkritya, the founder of Thai real estate developer Ananda Development PCL and Sittichai Leeswadtrakul, the CEO and President of Thai steel firm Millcon.
To date, Creative Ventures has invested in more than 10 startups, including Dishcraft, a startup that builds robots for commercial kitchens and ALICE, a startup which develops AI software for construction firms to help them optimize their construction scheduling.
So far, Creative Ventures has been able to bring ALICE’s technology to Southeast Asia through a partnership with Thai real estate developer Ananda.