‘CGH’ Commits 500 MB to ‘Pi Ventures’ To Invest in Digital Technology Companies and Cryptocurrency Projects with 500M Baht Capital
COUNTRY GROUP HOLDINGS PUBLIC COMPANY LIMITED or ‘CGH’ has announced that it will invest up to 500 million Baht into early-stage cryptocurrency projects and digital technology companies as it bets that the rate of digitization will increase in 2022.
‘Pi Ventures’ will seek investments globally that is involved in the digital space. Preference will be given to companies that have a complementary business to its existing securities and asset management businesses, but the scope does include new projects in the metaverse space.
The announcement comes after CGH announced last year that it had invested 25% into Cryptomind Group, a leading digital marketing, advisory and asset management business, which was the first to obtain the advisory and asset management license.
Mr Tommy Taechaubol, CEO of CGH, revealed that Pi Ventures is a formalization of our investment strategy which has shifted heavily towards new businesses and industries in recent years. We feel that if we can have a successful track record on investing new digital companies, Pi Ventures will eventually expand into a VC business. The company will put together the strong team of managers and advisors possible in preparation for future expansion and fund raising. Pi Ventures represents a new strategy for CGH which has traditionally focused on investing its own capital in controlling stakes in well established companies. The company is currently evaluating 3 investment proposals and is hopeful to secure the transactions in the early part of this year.