Beacon Venture Capital (Beacon VC), the corporate venture arm of KASIKORNBANK, has just announced that it is launching the Beacon Impact Fund, a $30M impact investment fund. The fund will make equity investments in for-profit startups seeking to create positive impact on ESG issues.
Thanapong Na Ranong, Managing Director of Beacon Venture Capital, said that “it is clear that the whole world needs to come together to support sustainable change. As a long-time leader in the Thai venture capital industry, we see a great opportunity to support passionate entrepreneurs, both in Thailand and throughout the region, who are looking to make a difference in the world. We firmly believe that consumers want to support sustainability and inclusivity, and that technology can make it easier for them to express their preferences and incentivize businesses to consider both the positive and negative impact from their operations.”
Like Beacon’s past investments, the impact fund will invest in post-revenue companies with demonstrated customer traction and high scalability. The fund is targeting startups that can create quantifiable, sustainable, and scalable impact to one or more of the UN’s 17 Sustainable Development Goals. Beacon will look to invest in startups tackling a broad array of problems, but key areas of interest include:
- Environmental Issues: Decarbonization, Waste Reduction, and Climate Adaptation
- Social Issues: Financial and Digital Inclusion, Financial and Digital Literacy, and Access to Health Care
- Governance Issues: Consumer Protection, Supply Chain Visibility, and Business Transparency
He noted that governments, financial institutions, and large corporations are all seeking new solutions to help them achieve ESG goals, and startups are well positioned to develop new innovations to help accelerate the shift to a sustainable economy. Mr. Thanapong Na Ranong added that “as a CVC, we believe that driving conversation and collaboration between startups and large corporations like KASIKORNBANK can magnify the impact that these innovative solutions have on Thailand and the world. Our hope is to inspire investors and institutions to take a proactive approach to creating impact, and to support new generations of innovators to solve the planet’s biggest problems.”
While investing in positive social impact through the new Beacon Impact Fund, Beacon VC noted that ESG risk and its impact is important for companies in all industries. Therefore, Beacon VC is also continuing to work with all of its existing portfolio companies to encourage sustainable behavior and consider their impact on the environment and the world.
The Beacon Impact Fund is part of KASIKORNBANK’s overall sustainability strategy and leadership vision in the field of ESG finance. Both Beacon VC and KASIKORNBANK are committed to upholding ESG principles and paving the way for Thailand’s transition into the new sustainable world.
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