Thailand-based industrial conglomerate Siam Cement Group (SCG) has launched a new industrial-focused regional VC fund called AddVentures.
SCG will pump in between THB 300 – 500 million (US$8.82 – $14.7 million) into the fund each year. AddVentures will target B2B, industrial and enterprise startups, according to a report by DealStreetAsia.
For the first 3 to 5 years, AddVentures plans to invest between US$1 – 5 million per deal. About 2 to 3 deals are already expected to be closed this year. And besides covering the ASEAN region, AddVentures will explore technologies coming from China, Israel and the US.
Dr Joshua Pas, digital transformation director at SCG, will come onboard the VC fund as a managing director.
The launch of this VC fund aligns with the Thai government’s “Thailand 4.0” roadmap, which is designed to advance the research and development of smart tech across various industries, such as manufacturing and agriculture.
A little background info about me: I was born and raised in São Paulo, Brazil, where I lived more than 20 years of my life. In Brazil, we all speak Portuguese, everyday and everywhere, and less than 3% of the population speak English fluently. Brazilians take mandatory English classes in school, but for a number of reasons — including a quite broken national educational system and the lack of exposure to the language on a regular basis — we don’t learn it enough. We think we do; quality standards are so low in certain regions that one can really quickly be considered… This story continues at The Next Web
U.S. mobile phone users are slowly reducing their reliance on Wi-Fi as carriers continue to ramp up their unlimited data offerings. That’s according to data from OpenSignal, which recently published its second Wi-Fi versus mobile data report. The study looks at shifts in data consumption for the “big 4” carriers as unlimited plans become more accessible. […]