Beacon Venture Capital Co., Ltd. (Beacon VC), KASIKORNBANK's venture capital arm, announced five strategic investments through its Beacon Impact Fund in 2024. With a total fund size now exceeding USD 13 million, or approximately THB 455 million, this milestone underscores Beacon VC's commitment to fostering sustainable solutions that not only enhance sustainability in Southeast Asia but also make tangible progress in expanding into key markets globally.

Mr. Thanapong Na Ranong, Managing Director of Beacon Venture Capital Co., Ltd. (Beacon VC), said, “As the corporate venture capital arm of KBank, Beacon VC is steadfast in its mission to drive innovations that deliver societal and environmental impact. We are moving forward to collaborate with like-minded organizations to build a sustainable future for Thailand through the Beacon Impact Fund. This fund, aligned with KBank's sustainable financing and investment initiatives, focuses on direct investments in startups or through profit-seeking venture capital funds globally that develop impactful solutions across various ESG dimensions, with the potential for widespread scalability".

To date, the Beacon Impact Fund has deployed a total of USD 13 million, or approximately THB 455 million, in sustainable investments. These investments are focused on driving innovative solutions in key ESG areas, including decarbonization, climate technology for climate and environmental sustainability, and financial inclusion. This marks a significant step in the fund's commitment to promoting sustainability and economic growth, not only in Southeast Asia but also in other regions. In 2024, the Beacon Impact Fund reached a milestone with the announcement of five strategic new investments:

·      Neutreeno: a UK-based startup focused on helping organizations worldwide trace and reduce their Scope 3 greenhouse gas emissions, which encompass emissions from the supply chain, especially Scope 1 and 2 emissions within the organizations. Through its precise carbon data analysis algorithms, Neutreeno provides organizations with a comprehensive view of their carbon footprints and allows them to identify strategies for holistic decarbonization. Neutreeno's solutions are designed to help organizations of all sizes achieve carbon neutrality goals easily and efficiently.

·      PlanetFWD: a US-based technology platform that helps owners of consumer products analyze the environmental impact of each individual product (SKU) through a Life Cycle Assessment (LCA) process. This allows them to track the carbon footprint at every stage of the product's lifecycle, from production to distribution. Furthermore, PlanetFWD provides definitive recommendations on how to reduce greenhouse gas emissions for each product, enhancing transparency in sustainability data, which will empower manufacturers to effectively achieve their environmental goals.

·      Majoo: an Indonesian startup offering a comprehensive business management platform for micro, small and medium-sized enterprises (MSMEs). This platform covers a wide range of functions, from financial management to customer relationship management (CRM). Majoo empowers Indonesian entrepreneurs to streamline their operations and gain better access to financial services, ultimately enabling them to build greater business sustainability.

·      Avaana Capital: India's largest sustainable VC fund, targeting investments in climate and environmental technologies to drive India toward achieving net-zero targets. Key focus areas include energy and resource management, sustainable transportation, and eco-friendly agriculture. This joint investment with Avaana Capital will allow Beacon VC to expand its investment footprint into India – one of the fastest growing markets – while deepening Beacon VC's expertise in clean energy development, eco-friendly transportation solutions, and sustainable agriculture.

·      ION Energy: a Thai startup, makes clean energy accessible with solar rooftop solutions via cost-free Power Purchase Agreements (PPA) and Engineering, Procurement, and Construction (EPC) services for homes and businesses. Its Solar Monitoring and Payment Platform streamlines energy management, tracking, and online payments through a mobile app.

Last year, Beacon VC undertook operations through various collaborations and key projects, including signing a memorandum of understanding (MOU) with the Global Green Growth Institute (GGGI) Thailand. The MOU is aimed at advancing technological innovation to brace for climate change and preparing startups to organize 'Climate Tech Connect' and 'Green Gather' activities in order to build a network of participants in the ecosystem, share knowledge, and foster cooperation to amplify positive environmental impacts. Additionally, Beacon VC organized the ESG Essential Reporting workshop to enhance startups' ESG skills and sustainability reporting capabilities. Furthermore, Beacon VC actively supported female entrepreneurs through the Cartier Women's Initiative 2024, reaffirming its commitment to promoting diversity and sustainability in Thai and regional businesses.

Mr. Thanapong added that Beacon VC's investments through the Beacon Impact Fund not only support KBank's sustainability strategy but also strengthen the ecosystem of technology-driven businesses aimed at addressing environmental and social issues in a sustainable manner. The focus is on additional investments in solutions that help reduce greenhouse gas emissions for both consumers and businesses, while promoting clean energy consumption, smart supply chain management, and inclusive financial access. The investments will prioritize high-growth potential innovations that are capital-efficient and adaptable to competitive environments. Additionally, Beacon VC places emphasis on solutions that advance sustainable financial inclusion, particularly for small and medium-sized enterprises in Southeast Asia. The company is ready to leverage its international investment experience to develop the ecosystem in Thailand, driving the growth of Thai startups and creating positive impacts at both regional and global levels in the future.

About Beacon Venture Capital

Beacon Venture Capital (Beacon VC) was established in 2016 to serve as the venture capital arm of KASIKORNBANK. Beacon VC focuses on strategic investments in early- to growth-stage technology startups covering financial technology (FinTech), consumer internet, enterprise technology, and sustainability technology. Beacon VC established the Impact Fund in 2023 with the objective of investing in startup companies that aim to create sustainable positive impacts with measurable outcomes, and have the potential for scalability, with an initial investment of THB 1.2 billion, or approximately USD 30 million. The fund's investments align with the Sustainable Development Goals (SDGs) of the United Nations and the vision of KASIKORNBANK, which emphasizes driving businesses based on the principles of sustainability (Bank of Sustainability).