The managers of a state venture capital fund for small business have failed in their mission and should be dismissed, according to the Institute for Small and Medium Enterprise Development (Ismed).
One Asset Management had failed to make effective deals with small and medium-sized enterprises, said Sopon Petchsawang, chairman of an Ismed committee co-ordinating assistance under the SMEs Venture Capital Fund.
Of the one billion baht the company managed, only 122.9 million baht had been invested in joint ventures with 13 small businesses in the two years to June 2002, he said. There were 57 applicants seeking a total of 855 million baht from the fund during the period.
