LiVE – the first Thailand crowdfunding platform for startups and SMEs developed by The Stock Exchange of Thailand (SET) with support from the public and private sectors – has officially launched with eight targeted businesses from various sectors such as mobile application, consumer products and medical equipment, to join while prompting over 50 companies to follow suit amid growing enthusiasm from investors.
SET President Kesara Manchusree said that SET has established Live Fin Corp Co.,Ltd. having 99.99 percent of shares held by SET, to operate a crowdfunding platform which provides the Over-the-Counter (OTC) trading service for startups and SMEs to access capital funding. “LiVE” platform has been developed with the use of blockchain technology as an infrastructure for participating businesses to expand and get connected with future alliances.
SET is determined to offer growth opportunities through the creation of a complete startup ecosystem, inclusively from the business management education for startup and SME entrepreneurs, to assistance in connecting with institutional and accredited investors. LiVE platform will be a key mechanism to help drive forward Thailand’s growth especially enabling startups and SMEs to have more financial accesses through crowdfunding.
Businesses can utilize LiVE to promote to a wider target group while using partnership to expand customer base. In addition, this platform also offers opportunities for investors, both individual and corporate, who are qualified by the Securities and Exchange Commission (SEC) regulations, to select to invest in their preferred business with growth potential,” added Kesara.
Businesses to be qualified to join LiVE, have to be companies registered in Thailand, whose founders and executives carry no criminal records with financial statement audit conducted by certified auditors. In order to raise over THB 20 million, an eligible business must present a record of previous capital raising of at least THB 5 million, or be endorsed by a sponsor. For fundraising of over THB 100 million, the financial statements audited by SEC-certified auditors must be presented.
There are four types of investors for this platform, consisting of
- institutional investor,
- venture capital,
- corporate venture capital and
- specific investor with annual income no less than THB 4 million or with combined assets worth no less than THB 50 million, and at least one year of investment experience.