Thailand is a popular choice for Scandinavian tourists and businessmen alike. Must be the cold weather and long dark nights. Finnish businessmen have set up shop here mainly in the agro-forestry sector. Not surprising with all those trees back home.

NEW INTERNATIONAL VENTURE CAPITAL FUND
A channel to Asia for Finnish technology companies
(14 October 2005)

A new Finnish-Thai venture capital fund has been established to finance the growth and internationalization of technology companies. An agreement on setting up the Finn-Thai Technology Fund was signed on Friday during a visit to Finland by the Prime Minister of Thailand, Thaksin Shinawatra.

 

"The fund will offer Finnish companies access to growing Asian markets," says Juha Marjosola, Managing Director of Finnish Industry Investment Ltd. "It will assist technology companies in establishing a foothold in markets there or, for instance, in setting up a Finnish-Thai joint venture."

"It's splendid that a Finnish venture capital fund will now receive foreign capital."

Market opportunities for Finnish companies can open up when the public sector builds the framework for an information society or, for example, a tsunami warning system. The aim of the Finn-Thai Technology Fund is to support the commercialization of developed products in the Thailand and Southeast Asia region. The fund will focus investments on some ten carefully selected target companies. A private venture capital company, Orienteq Capital Ltd, has been founded to manage the fund.

"The Finn-Thai Technology Fund will concentrate on a business idea never before pursued by a single private equity investor," comments Kalle Pykälä, Senior Partner of Orienteq Capital Ltd.

"The major information society projects in Thailand and its adjacent areas combined with strongly growing demand for technology products and services create an ideal opportunity for the fund's target companies to commercialize their products in one of the fastest growing markets in the world."

Finnish Industry Investment Ltd (FII) is a government-owned investment company administered by the Ministry of Trade and Industry. Founded in 1995, the company invests the proceeds accrued from the privatization of state-owned companies in promoting the growth and internationalization of Finnish businesses. FII's investments and investment commitments amount to almost EUR 300 million.
www.industryinvestment.com

Useful Contacts

Thai-Finnish Chamber of Commerce
34 Phyathai Building B, 5th floor
Phyathai Road, Rajthevi,
Bangkok 10400
Tel : 66 (0) 2 354 5215 -7
Fax : 66 (0) 2 354 5218
E-mail : tfcc@thaifin.or.th
Mrs.Supatra Buranatham
Executive Director

The Thai-Finnish Chamber of Commerce (T-FCC) was granted charter on September 21, 1992 by the Royal Thai Ministry of Commerce. The primary objectives were initially to act as a contact, resource and information point for Finnish businesses in Thailand and for Thai enterprises interested in doing business with Finland as well as to develop relations between the two countries in all areas.

Finnish Embassy in Bangkok
Embassy of Finland in Thailand
16th Fl, Amarin Plaza
500 Ploenchit Rd
Postal Address:
G.P.O. Box 295, 10501
Bangkok
10330
Phone: + (66) (2) 256 9306/9
Fax: + (66) (2) 256 9310

Finnish Consulate in Chiang Mai
Consulate of Finland in Thailand
104-112, Thapae Road
Muang District
Chiang Mai
50300
Phone: (+ 053 234) 777 or 812
Fax: + 053 251 512

Finnish Consulate in Phuket
Consulate of Finland in Thailand
A.T.Corporation Ltd.
93-93/1-9, Phuket Road
Phuket
83000
Phone: (+ 076) 211 322 or 214 433
Fax: + 076 212 503