ChangeFusion

What ChangeFusion does

ChangeFusion Group is a Bangkok-headquartered impact innovation ecosystem operating four affiliated entities under the Thai Rural Reconstruction Movement Foundation: ChangeFusion Institute (non-profit root that incubates social innovations), ChangeVentures (advisory enterprise serving social enterprises, corporates, and government), ChangeCapital (investment vehicle deploying equity and loans into impact enterprises), and Taejai.com (social crowdfunding platform launched in 2012 that has cumulatively raised approximately $2M USD). The organization executes a three-pillar strategy — INSPIRE (media, meetups, workshops, conferences such as AirHack hackathons and Innovating Justice Forum), INCUBATE (programs including BANPU Champions for Change, UnLtd Thailand, Grassroots Innovation Incubation, and SE.school online learning), and INVEST (impact fund co-design, crowdfunding, and social investment placement).

The technology portfolio comprises AI/ML applications built on NLP and predictive analytics: the #MySis AI chatbot supporting gender-based violence victims via Facebook Messenger; a COVID-19 misinformation analysis system classifying Thai social media messages into spreader/corrector taxonomies; an AI for Traffic Deaths model predicting fatalities in road blackspots; the Cofact Thailand collaborative fact-checking platform with LINE chatbot; and the Big Open Data Against Corruption dataset. A proprietary Social Impact Reporting Standard developed in-house has been adopted by leading Thai social investment platforms including Taejai.

The revenue model blends four streams: professional services via ChangeVentures advisory; investment management economics from BKIND Fund (1.8 billion Baht AUM, Thailand's first ESG mutual fund co-designed with Bualuang Asset Management) and Thai Governance Fund Partnership (6 billion THB across 10 mutual fund companies); transaction fees from Taejai.com crowdfunding; and managed services income from incubation program administration funded by corporate partners (notably Banpu since 2011) and foundation/UN grants. Customer segments span social enterprises, corporations (ESG and CSR programs), Thai government agencies, impact investors, and youth social entrepreneurs across Thailand and broader Southeast Asia (Malaysia, Philippines, India, Pakistan, Bangladesh) and Japan.

Name

ChangeFusion

Legal name

ChangeFusion Group

Website

https://changefusion.org

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

ChangeFusion Group is a Bangkok-based impact innovation ecosystem operating a non-profit institute, advisory firm, impact investment vehicle, and crowdfunding platform to incubate, advise, and fund social enterprises across Thailand and Southeast Asia.

Ownership category

akta.pro rank

Product category

Social Impact Advisory & Incubation Services

NAICS

Business, Professional, Labor, Political, and Similar Organizations (8139), Business Associations (813910)

SIC

Services-Management Consulting Services (8742), Services-Membership Organizations (8600)

akta.pro primary industry

Organization Design & Change Management Consulting (BPAHACAD)

akta.pro secondary industries

Change Management & Transformation Leadership (EDABAAAD), Climate Change Mitigation & Adaptation (BPAGAGAF)

Keywords

• Social enterprise incubation
• Impact investment advisory
• ESG fund management
• Social crowdfunding platform
• Social innovation consulting

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Impact Investment Advisory: ChangeVentures provides social innovation and social impact investment advisory services to social enterprises, corporations and public organizations.
2. Investment Management: ChangeCapital invests into promising enterprises that pioneer innovative and scalable impact solutions, generating returns through equity and loan investments in early growth stage impact enterprises.
3. Crowdfunding Platform: Taejai.com operates as a social crowdfunding platform connecting impact projects with online social impact backers. Platform facilitates funding for social/environmental projects.
4. Incubation Program Management: Managing incubation programs such as BANPU Champions for Change and SE.school online learning platform, often supported by corporate and foundation funding.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

ChangeFusion Group is a Thailand-based impact innovation ecosystem builder that runs social enterprise incubation programs, social impact investment advisory and funds (including Thailand's first ESG mutual fund BKIND), a social crowdfunding platform (Taejai.com), and digital public-interest technology initiatives (Cofact fact-checking, #MySis AI chatbot, Data for Change Lab). The organization operates across three pillars — INSPIRE, INCUBATE, and INVEST — to grow a new generation of innovations, enterprises, and initiatives that rebalance nature, society, and the economy.

Product overview

ChangeFusion Group operates as a multi-organization impact innovation ecosystem rather than a single product company. The portfolio includes Taejai.com (Thailand's first social crowdfunding platform), Cofact Thailand (collaborative fact-checking platform), SE.school (online learning for social entrepreneurs), and various impact investment products including BKIND FUND (first Thai ESG mutual fund) and Thai Governance Fund Partnership. The organization runs multiple incubation programs including Banpu Champions for Change, UnLtd Thailand, and Grassroots Innovation Incubation, along with technology initiatives like Data for Change Lab and #MySis AI chatbot. These offerings work together to fulfill ChangeFusion's mission of building impact innovations to rebalance nature, society, and economy through inspire, incubate, and invest strategies.

Differentiator

Problem solved

Functional benefit

Products and services

• Taejai.com Social Crowdfunding Platform Thailand's first social crowdfunding platform that enables social groups including non-profits, social enterprises, and individuals to raise funds for creative social and environmental projects. Raised approximately $2 million USD supporting hundreds of projects.
• Cofact Thailand Collaborative Fact-Checking Platform Collaborative fact-checking platform and LINE chatbot (@cofact) where the public can verify suspicious content, news, and claims. Co-developed with volunteers and technical partners (OpenDream) to combat misinformation in Thailand.
• SE.school Online Learning Platform Online learning platform for aspiring and current social entrepreneurs featuring real case discussions by founders of Thai social enterprises. Jointly issues course certificates with UNDP upon completion. Supported by Banpu PLC.
• Banpu Champions for Change (BC4C) Incubation Programme Incubation programme for young social entrepreneurs funded by Banpu Public Company Limited since 2011. Provides seed funding (50,000 Baht for initial projects, 200,000 Baht for selected projects), capacity development workshops, mentorship, and networking support.
• UnLtd Thailand Early-Stage Social Enterprise Support Early-stage social enterprises support programme brought to Thailand in 2010 as the third country globally after India. Supported by Thai Social Enterprise Office (TSEO) under Thai Health Promotion Foundation.
• Grassroots Innovation Incubation Programme Program celebrating and supporting grassroots innovators with staged financing incubation. Provides 30k Baht for initial support and 100k Baht for selected teams to scale innovations across engineering, mechanics, design, and marketing.
• Data for Change Lab Initiative exploring innovative data management for sustainable development. Includes Big Open Data Against Corruption project and AI for Traffic Deaths and Accident Reduction using machine learning for predictive analytics.
• #MySis AI Chatbot Against Gender-based Violence AI-powered chatbot using artificial intelligence to help victims of gender-based violence. Provides emergency support, legal knowledge, and service linkages. Developed in partnership with Women and Men Progressive Movement Foundation, UNICEF, UN Women, and BotNoi.
• ChangeVentures Social Impact Investment Advisory Impact enterprise advising on social innovation and social impact investment for social enterprises, corporations and public organizations. Provides advisory services on social finance, ESG fund development, and impact strategy.
• ChangeCapital Impact Investment Fund Invests into promising enterprises that pioneer innovative and scalable impact solutions, generating returns through equity and loan investments in early-growth-stage impact enterprises.
• BKIND ESG Mutual Fund First socially responsible investment mutual fund (ESG) in Thailand, co-designed with Bualuang Asset Management and For Khon Thai Foundation. IPO value of 1.8 billion Baht with 40% of management fees directed to a venture philanthropy fund supporting social initiatives.
• Thai Governance Fund Partnership Industry-wide collaboration with 10 mutual fund companies creating funds for companies with high governance standards. All funds contribute 40% of management fees to anti-corruption initiative fund supporting governance building and investigative media.

Quantifiable outcome

• $2 million USD raised through Taejai.com platform supporting hundreds of projects
• +5 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature6 records

Partnerships

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

• Thai Rural Reconstruction Movement FoundationcoreStrategic or Co-development PartnerChangeFusion Institute is a non-profit institute under the Thai Rural Reconstruction Movement Foundation. This is the root organization of ChangeFusion Group, primarily incubating social innovations and social enterprises.
• UNDP ThailandcoreStrategic or Co-development PartnerCollaborated on Social Impact Investment and Innovative Finance Landscape Mapping report (2018), Training of Trainers workshop for local incubators (2019), and various justice and open data initiatives.
• Thailand Institute of Justice (TIJ)coreStrategic or Co-development PartnerPartnered on Technology for Justice series, Big Open Data Against Corruption project, Open Data Governance and Legality forum, and justice innovation initiatives.
• Anti-Corruption Organization of Thailand (ACT)coreStrategic or Co-development PartnerCo-organized Datathon for Anti-Corruption to digitize politicians' asset declaration documents and promote transparency.
• Bualuang Asset ManagementmajorStrategic or Co-development PartnerCo-designed BKIND Fund - Thailand's first socially responsible investment mutual fund with 1.8 billion Baht IPO value.
• For Khon Thai FoundationmajorStrategic or Co-development PartnerPartner in co-designing BKIND Fund and founding Taejai.com crowdfunding platform.
• OpenDreamcoreTechnology or IntegrationTechnology partner for various digital innovation projects including Taejai.com, Cofact fact-checking platform, and AI chatbots.
• Stock Exchange of ThailandmajorStrategic or Co-development PartnerCo-designed Thai Sustainability List Criteria and later Thai Sustainability Index (SET TSSI) for sustainable listed companies.
• HiiL (Hague Institute for Innovation of Law)coreStrategic or Co-development PartnerParticipated in Innovating Justice Forum 2020 as Thailand representatives, exploring innovative financing models for justice.
• FabCafe BangkoksupportingStrategic or Co-development PartnerCo-hosted AirHack 2.0 hackathon for air pollution mitigation solutions in schools.
• National Innovation Agency (NIA) ThailandsupportingStrategic or Co-development PartnerPartner in Grassroots Innovation Incubation program supporting local innovators.
• TandemicsupportingStrategic or Co-development PartnerLed facilitation of Training of Trainers workshop for Social Innovation and Social Enterprise Localization in collaboration with UNDP.
• UN WomensupportingStrategic or Co-development PartnerTechnical and content development support for #MySis AI Chatbot Against Gender-based Violence.
• UNICEFsupportingStrategic or Co-development PartnerTechnical and content development support for #MySis AI Chatbot Against Gender-based Violence.
• BotNoisupportingTechnology or IntegrationTechnical support for #MySis AI chatbot development.
• Women and Men Progressive Movement FoundationsupportingStrategic or Co-development PartnerContent and technical development support for #MySis AI Chatbot Against Gender-based Violence.
• UNODCsupportingStrategic or Co-development PartnerPartner in Big Open Data Against Corruption initiative.
• Social Innovation Foundation (SIF) ThailandsupportingStrategic or Co-development PartnerCross-border learning partner on disability employment, sharing innovative hiring models for persons with disabilities.
• Litalico (Japan)supportingStrategic or Co-development PartnerCross-border learning partner on disability employment support, shared expertise in running job training and placement services.
• Ch.Kanchang (CK)supportingStrategic or Co-development PartnerPartner in Grassroots Innovation Incubation program.
• Grassroots Innovation SEsupportingStrategic or Co-development PartnerPartner in Grassroots Innovation Incubation program connecting local innovators with supporters.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• British Council: UK cultural organization running social enterprise programs globally (including the joint partnership with ChangeFusion in 2008 to bring Thai leaders to the UK). Comparable as both operate social enterprise policy advisory and capacity-building programs internationally.
• Schwab Foundation for Social Entrepreneurship: World Economic Forum-affiliated foundation that curates the Social Entrepreneurs network and advances social entrepreneurship globally. Comparable as ChangeFusion's ecosystem-building mission mirrors Schwab's recognition and convening of social innovators.
• Yunus Centre: Center founded by Nobel laureate Muhammad Yunus to promote social business and impact investment globally. Comparable mission focus on building social enterprises and innovative finance to address poverty, mirroring ChangeFusion's social innovation strategy.
• Skoll Foundation: Foundation investing in social entrepreneurs and supporting scalable solutions to global challenges. Comparable as both deploy venture philanthropy and ecosystem support (fellowships, networks, convening) for high-impact social innovators.
• Acumen: Global impact investment fund providing patient capital and leadership development to social enterprises. Comparable as ChangeCapital invests into impact enterprises and ChangeVentures provides impact investment advisory, mirroring Acumen's capital-plus-advisory model.
• Global Steering Group for Impact Investment (GSG): International organization promoting impact investment and impact economy infrastructure. Comparable as ChangeFusion's BKIND Fund and Thai Governance Fund Partnership align with GSG's mission to mainstream impact investment globally.

Direct peers

• AVPN (Asian Venture Philanthropy Network): Asia-focused venture philanthropy network connecting funders with social purpose organizations across the region. Directly comparable as ChangeFusion operates the same ecosystem-bridging role (incubators, impact investors, social enterprises) in Thailand and SE Asia.
• Ashoka: Global network identifying and supporting leading social entrepreneurs (Ashoka Fellows). Directly comparable as ChangeFusion's founder is an Ashoka Fellow, and both organizations operate social entrepreneur fellowship/infrastructure models across multiple countries.
• Tandemic: Asia-based social innovation facilitation and capacity-building organization. Comparable as both Tandemic and ChangeFusion co-led Training of Trainers workshops with UNDP and operate as facilitators/connectors across the SE Asian social innovation ecosystem.
• UnLtd Thailand: Early-stage social enterprise support program that ChangeFusion itself brought to Thailand in 2010 as the third country globally. Directly comparable as both run incubation pipelines providing staged seed funding and capacity development to early-stage social entrepreneurs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/changefusion
• LinkedInlinkedin.com/company/changefusion

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about ChangeFusion