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ORZON Ventures, US $50 million mobility and lifestyle fund launched by OR & 500 TukTuks

SGHoldCo, a wholly-owned subsidiary of Thai oil giant OR, and early-stage investor 500 TukTuks (now 500 Global) have teamed together to create a $50 million fund to invest in companies in Thailand and Southeast Asia.

Under the subject of mobility and lifestyle, ORZON Ventures will focus on both OR-related technology and new enterprises in the Series A and B stages.

In other words, the fund will invest in businesses that address future mobility demands or adapt to the changing needs of contemporary lives, such as food and beverage firms, travel, health and wellness, and other digital lifestyles solutions.

ORZON Ventures’ establishment will allow OR to get more access to early-stage businesses in Thailand and Southeast Asia. The oil company hopes to strengthen and expand its operations as a result of this.

SGHoldCo will invest US $25 million in ORZON initially, with the possibility to expand the amount to US $50 million in the future.

One of OR’s development goals, according to president and CEO Jiraphon Kawswat, is to explore new business possibilities to develop beyond the frontiers of the oil sector in a fast-changing world. OR seeks partnerships with both major corporations and smaller, more agile businesses. The collaborations might take the shape of commercial alliances or investments in SMEs or startups that OR feels offer a competitive edge in terms of technology, speed, and agility in adapting to change.

Smaller firms, on the other hand, have several obstacles, including a lack of human resources, money, and consumer and ecosystem support. OR thinks that financing, offering access to customers/huge OR’s ecosystem, and providing other essential business support from relevant specialists, it can help companies fulfill their potential.

Flash Express, Thailand’s first unicorn, recently raised $200 million in a Series D round led by OR.

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