Ardent Capital, along with other venture capital firms including Golden Gate Ventures and 500 Startups, have invested an undisclosed amount in Thailand’s top coworking space and community builder Hubba.
The main objective of this funding round is help Hubba strengthen its current position as Thailand’s leading start-up community builder while helping provide more resources to underserved Thai start-ups.
Established around the same time in 2011, Ardent and Hubba have grown their relationship over the years to include workshops, events and a mutual desire to help build and educate the startup community in Thailand from the ground up.
Adrian Vanzyl, CEO of Ardent Capital, said in a statement that it is was a great opportunity to work hand in hand with Hubba’s talented team to be an active part in Thailand’s rapidly growing technology ecosystem.
“We were right at the beginning of the startup phenomenon and we have continued to grow together. We are proud to be part of many successes and we are happy that Ardent is active in supporting our community,” said Hubba’s co-CEO and co-founder, Amarit Charoenphan.
With the philosophy of BUF – Best, Unique and First, HUBBA aims to add freshness, excitement, and a ‘sharing’ culture to the tech startup empire. The biggest goal is to support and help at least one Thai tech startup reach a valuation of at least $1 billion by 2020, a goal that is shared by many in Thailand’s startup ecosystem.
“Thailand has the talent, growth potential, and now the funding to help build and scale homegrown companies. Hubba’s focus on the big picture is exactly the type of vision we seek when making such investments,” Tee Suraphongchai, Director Ardent Capital, adds.
Hubba’s Co-CEO Charle Charoenphan said, “These investors have seen a strong potential in Thailand because we started from nothing and have helped grow a full ecosystem. We are proud to be one of the handful of startups who have received funding from Silicon Valley; that is an achievement of its own.”
500 startups has been increasing its focus on South East Asia with a slew of recent investments here. Recently, it had joined hands with Vietnam’s leading tech company FPT Corporation to form an incubator platform to nurture Vietnamese startups. The Silicon Valley based venture capital seed fund & startup accelerator had recently beefed up its team in the region, by hiring former INSEAD Entrepreneur-in-Residence, Arnaud Bonzom as Director of Special Projects, Southeast Asia, and it had also got on board Vishal Harnal. 500 startups recently had also launched a $10m Thailand-dedicated fund.
Ardent currently focuses on Thailand, Indonesia, Hong Kong, Philippines, Vietnam, Malaysia, and Singapore.
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