Krungsri Finnovate

Name

Krungsri Finnovate

Legal name

KRUNGSRI FINNOVATE COMPANY LIMITED

Website

https://krungsrifinnovate.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Corporate Venture Capital

NAICS

Other Financial Vehicles (525990)

SIC

Finance Services (6199), Investment Advice (6282)

akta.pro primary industry

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

akta.pro secondary industries

Corporate Innovation & Technology Scouting Units (with investment mandate) (FSANAHAI), Corporate Venture Studios & Incubators (Build/launch ventures) (FSANAHAC), Corporate Fintech / Insurtech CVC (Financial-services-led CVC) (FSANAHAK)

Keywords

• Corporate venture capital
• Startup accelerator programs
• Venture capital funds
• Fintech investment
• Startup ecosystem

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Venture Capital Investment Returns: Generates returns through equity investments in startups, with successful exits through IPOs and acquisitions. Portfolio includes four unicorns (Grab, Flash Express, Klook, Ascend Money).

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Krungsri Finnovate operates as a corporate venture capital (CVC) arm that invests in early-stage and growth-stage startups through dedicated funds (Finnoventure PE Trust, Finnoverse Futuristic Fund) and runs multiple accelerator and bootcamp programs. It functions as the venture and innovation unit of Krungsri (Bank of Ayudhya), channeling capital and corporate partnerships into Thai and ASEAN startups.

Product overview

Krungsri Finnovate is a Corporate Venture Capital (CVC) arm of Krungsri (Bank of Ayudhya) that operates as a strategic investor dedicated to helping startups grow and thrive. The company offers two main investment funds: Finnoventure (Thailand's first startup private equity trust fund with 2.7 billion baht capital) and Finnoverse (focused on AI, Web3, Blockchain, DeFi, GameFi, and Metaverse with 475 million baht invested). In addition to its funds, Krungsri Finnovate runs a comprehensive accelerator and ecosystem programs including Finno Efra Accelerator, Founder Nova Bootcamp, Krungsri RISE (Thailand's first fintech accelerator), RISE.AI (Southeast Asia's first corporate AI accelerator), Krungsri UPCELERATOR, Meet the Angels, Krungsri Unicorn, and Krungsri Uni Startup. The company manages approximately 4,039 million baht (US$120 million) and has invested in 25 startups including four unicorns: Grab, Flash Express, Klook, and Ascend Money.

Differentiator

Problem solved

Functional benefit

Brands

• Finnoventure: Thailand's first startup private equity trust fund, offering UI and institutional investors access to Series A and above startups in Thailand and ASEAN.
• Finnoverse
• Finno Efra Accelerator
• Founder Nova Bootcamp
• Krungsri RISE
• RISE.AI

Products and services

• Finnoventure Private Equity Trust

Quantifiable outcome

• 195 collaboration projects completed between startups and business units
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

25 partnerships are on record, tiered major, supporting and core.

• Depa (Digital Economy Promotion Agency)majorStrategic or Co-development PartnerGovernment partner supporting Thailand's digital economy ecosystem and startup development initiatives.
• NIA (National Innovation Agency)majorStrategic or Co-development PartnerGovernment innovation agency providing support for Thai startups through acceleration programs and grants.
• TFA (Thai Fintech Association)supportingStrategic or Co-development PartnerAssociation partner supporting fintech ecosystem collaboration.
• TVCA (Thai Venture Capital Association)supportingStrategic or Co-development PartnerAssociation of venture capital firms in Thailand for ecosystem collaboration.
• RISEsupportingStrategic or Co-development PartnerFintech accelerator initiative in Thailand's startup ecosystem.
• AIS - The StartupsupportingStrategic or Co-development PartnerAIS's startup support initiative for digital ecosystem development.
• Taiwan Startup StadiumsupportingStrategic or Co-development PartnerTaiwanese startup ecosystem partner for cross-border collaboration.
• OpenVaultsupportingTechnology or IntegrationTechnology partner in the ecosystem for startup enablement.
• Enterprise IrelandsupportingStrategic or Co-development PartnerIrish government organization supporting startups and business development in Thailand.
• Enterprise SingaporesupportingStrategic or Co-development PartnerSingapore government agency supporting startup ecosystem development.
• Singapore FinTech AssociationsupportingStrategic or Co-development PartnerSingapore fintech industry association for regional ecosystem collaboration.
• Block71supportingStrategic or Co-development PartnerSingapore startup ecosystem initiative for innovation and startup support.
• NUS EnterprisesupportingStrategic or Co-development PartnerNational University of Singapore's startup and innovation arm.
• True Digital ParksupportingStrategic or Co-development PartnerThailand's largest tech hub and startup ecosystem platform.
• CMU STeP (Science and Technology Park, Chiang Mai University)supportingStrategic or Co-development PartnerUniversity technology park partner for northern Thailand startup ecosystem, collaborated on KRUNGSRI UPCELERATOR program.
• KKU Science ParksupportingStrategic or Co-development PartnerKhon Kaen University science park supporting regional startup ecosystem.
• KX (Knowledge Xchange)supportingStrategic or Co-development PartnerKnowledge sharing and networking platform for startup ecosystem.
• InvestHKsupportingStrategic or Co-development PartnerHong Kong government investment promotion agency for startup ecosystem.
• Thai Startup AssociationsupportingStrategic or Co-development PartnerThai startup community association for ecosystem collaboration.
• Orbit TaiwansupportingStrategic or Co-development PartnerTaiwanese startup ecosystem initiative for regional collaboration.
• AWSsupportingTechnology or IntegrationAmazon Web Services provides cloud infrastructure and technology perks for accelerator program participants.
• Urban OfficesupportingStrategic or Co-development PartnerCo-working space partner for startup ecosystem activities.
• Efra StructuremajorStrategic or Co-development PartnerCo-developer of the Finno Efra Accelerator Program, a flagship initiative offering mentorship and investment opportunities for early-stage Thai startups.
• Security Bank CorporationcoreStrategic or Co-development PartnerPhilippine bank partner in cross-border startup ecosystem collaboration with DTI Philippines and MUFG Bank to support regional startup growth through initiatives like Japan-ASEAN Startup Business Matching Fair.
• Department of Trade and Industry (DTI) PhilippinescoreStrategic or Co-development PartnerPhilippine government agency partner for cross-border startup ecosystem development in partnership with MUFG, Security Bank, and Krungsri.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SCB 10X: Corporate venture capital arm of Siam Commercial Bank (SCB), Thailand's other large commercial bank. Directly comparable as a Thai bank-led CVC investing in fintech, AI, and digital startups across the region.
• Kasikornbank (KBank) CVC / KXVC: Venture and innovation arm of Kasikornbank, another top Thai bank. Competes head-to-head for Thai fintech/AI startups and accelerator pipeline; comparable CVC mandate, fund structure, and corporate network advantages.
• Openspace Ventures: SEA-focused VC investing from early to growth stage across Thailand, Indonesia, Singapore, Vietnam and the Philippines. Comparable Series A+ Thai fintech and AI thesis.
• Monk's Hill Ventures: Singapore-headquartered VC focused on early-to-growth stage tech companies across Southeast Asia, with active deal flow in Thailand and Indonesia fintech/enterprise.
• Insignia Ventures Partners: Early-to-growth stage VC focused on Southeast Asia; co-invested with Krungsri Finnovate in fileAI. Directly comparable mandate, stage focus, and regional SEA fintech/AI thesis.
• Golden Gate Ventures: Early-stage VC investing across Southeast Asia, including Thailand. Comparable as a regional VC competing for the same seed/Series A Thai and SEA startup pipeline.

Broad incumbents

• MUFG Innovation Partners: CVC arm of MUFG Bank. A strategic partner of Krungsri Finnovate but also a broader incumbent CVC running larger funds and global deal flow, making it a comparable but bigger CVC benchmark.
• UOB Venture Management: Venture capital arm of United Overseas Bank (Singapore). Comparable as a bank-affiliated regional VC investing across Southeast Asia with strategic alignment to its parent bank's fintech priorities.
• Vertex Ventures Southeast Asia & India: Operating arm of Temasek-backed Vertex Venture Holdings, investing in Series A and beyond across SEA. Comparable as a later-stage SEA VC that competes for the same Series A+ Thai/ASEAN startups.
• East Ventures: One of the largest SEA-focused early-stage VCs with multi-stage funds across Indonesia, Singapore, Thailand, Vietnam and Japan. Comparable as a broad incumbent investing in fintech, AI, and digital economy startups in the same geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/KrungsriFinnovate
• LinkedInlinkedin.com/company/krungsri-finnovate

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments42 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Krungsri Finnovate