by Tech in Asia
Following last year’s investment in Thailand-based Priceza, CyberAgent Ventures, Inc. has established a new office in Bangkok. The Japanese VC firm has already invested in 23 companies across Southeast Asia and has offices in Tokyo, Hanoi, Ho Chi Minh, Seoul, Taipei, and Jakarta. CyberAgent Ventures’ Bangkok office will be led by Nguyen Manh Dung who is also in-charge of the Vietnam office.
At our Startup Asia Singapore conference last year, Nobuaki Kitagawa, CEO of CyberAgent Ventures China revealed that the company plans to increase the US$15 million fund targeted at the Southeast Asia (SEA) region to $20 million. It also has a keen eye on the Thai market, so this news doesn’t come as a surprise.
Priceza, a price comparison service available in both Thailand and Indonesia, boasts more than 4 million active users per month. It is the number one service of its kind in Thailand, despite stiff competition from rivals like Rocket Internet’s Pricepanda.
“Given the popularity of the Internet and the abundance of entrepreneurs in Thailand, we consider Thailand as a very attractive market, and will enhance our investment and incubation activities by establishing the new office in Thailand,” CyberAgent said in a press release. “We will fully utilize our experience accumulated in our investments in global [firms] to expand our business in Thailand.”
We have reached out to CyberAgent Ventures for comments and will update if we hear back.
The post Japan’s CyberAgent Ventures expands into Thailand with new office in Bangkok appeared first on Tech in Asia.
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