InTouch diversifies, launches Bt200m venture capital fund
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InTouch yesterday launched its Bt200-million venture capital fund, InVent, to invest in the information-technology, broadcast content, telecommunication and media businesses.
As part of its strategy of diversifying its portfolio, the holding company will also enter the bidding for terrestrial digital TV broadcasting licences.
Somprasong Boonyachai, chief executive officer of InTouch, which was formerly known as Shin Corp, said the fund was aimed at supporting small and medium-sized enterprises that complement his company’s businesses, which span telecommunications through Advanced Info Service to media and IT through Thaicom.
The company is in talks with 10 high-potential Thai SMEs in businesses including digital TV, mobile applications and cloud computing on injecting about Bt5 million into each of them. The company would also assist them with market access.
The funding would be from three to five years, depending on the specific business plan.
For the terrestrial digital TV business, InTouch wants three channels, focusing on news, sports and entertainment.
“We haven’t reached a conclusion on the investment in the digital TV business as yet, since we have to wait for the regulations from the National Broadcasting and Telecommunications Commission,” he said.
The NBTC has said it plans to hold the auction for terrestrial digital TV early next year, with about 50 UHF (ultra-high frequency) channels up for grabs.
The venture-capital platform will also help InTouch expand into the digital TV business by offering enriched content, applications and technology, Somprasong said.
“I’m highly confident in the digital TV business, as it’s the right time to invest during the NBTC’s ‘open skies’ policy,” he said.
InTouch has had prior broadcasting experience operating iTV, a free TV station, which Shin shut down with losses in 2007.
