Siam Commercial Bank (SCB), through its financial technology (fintech) subsidiary Digital Ventures, today announced a significant development in its investment in Nyca Fund II, one of the US’ top fintech-focused funds with distinguished reputation for its capability to bring together the expertise of both Silicon Valley and Wall Street. This marks a new milestone in SCB’s efforts to grow its global network of fintech investments.

Under the partnership agreement, SCB will be one of Nyca’s only 10 institutional limited partners. As a Limited Partner, SCB will become deeply involved with Fintech-focused companies in the US and have greater exposure to Fintech startups in the US in their early stage. At the same time, SCB will have the opportunity to explore more financial technology implementation cases.

Thana Thienachariya, chairman of Digital Ventures’ executive committee, said: “This partnership marks a significant milestone for SCB in growing our global network of “fintech radars”. The US is a large fintech startup market with approximately US$13 billion investment every year. Coupled with the country’s innovation capability, it is important for us to have a strong presence in this market.  Thanks to Nyca’s extensive…

Read the complete story here

About the author

Techsauce is the partnership of two titans in the Thai technology startup industry between Thumbsup, the leading technology media in Thailand and HUBBA, the biggest coworking space network in Thailand.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Thai Cabinet Approves Crypto-Friendly Tax Rules

The new rules will offer traders several benefits, including exemption from value-added taxes, settlement of losses and higher crypto trading activity in Thailand.

Which emerging market universities are driving growth in patent filing?

According to the UN World Intellectual Property Organisation (WIPO), a record 277,500 international patents were filed in 2021. China was once again the world’s top filer, having overtaken the US in 2019.

Thailand touts ‘innovation hub’ aim

The move is also part of its plan to raise Thailand’s position in the Global Innovation Index from 43rd in 2021 and ensure Bangkok appears in the top 50 best cities for startups as the capital was ranked in 71st place in the Global Startup Ecosystem Index 2021.