Wiwan Tharahirunchote, president of One Asset Management, said the fund was aiming to use 50% of its funds to set up joint ventures with medium-sized enterprises that had the potential to be publicly listed on the Market for Alternatives (MAI). Of that amount, about 20% of its funds would be directed to newly established SMEs and the remainder would go to established enterprises. Currently, the one billion baht (US$25m) fund is involved in 36 joint ventures with a total investment of 353.81m baht (US$8.87m) but only six to eight of them have the potential to list on the stock market.
Newly established SMEs made up 40% of the total investment and the rest went to already established ones which sought funds to expand their businesses.
``We (the fund) have an investment ceiling of 50% of total capital in joint venture companies. So with this limit, if we want to extend our investment, we have to target larger companies,'' Mrs Wiwan said.
