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business

SCB 10X ranked No 2 global corporate venture capital fund


SCB 10X, a holding company of Siam Commercial Bank (SCB), was ranked the No 2 global Corporate Venture Capital (CVC) fund by market analyst CB Insights on Thursday.

The ranking is based on investment potential.

SCB 10X was established in January 2020 with a "Moonshot Mission" to achieve exponential growth through technology innovations and investments beyond banking via its three arms: Venture Builder, Venture Capital and Strategic Investment & Partnership.

Venture Builder supports talented individuals or entrepreneurs with funding, as well as the Venture Building Platform that provides a network of talent, efficient middle and back-office operations as shared services, and a network of partners.

Venture Capital invests in early-stage start-ups to generate both strategic and financial returns for SCB, with a focus on fintech, blockchain and decentralised finance (DeFi), digital work and lifestyle, digital health and wellness, interconnected world and IoT, and deeptech.

Strategic Investment & Partnership invests in growth-stage tech companies.

Published : February 25, 2022

By : THE NATION