HANOI -- Thai property developer Sansiri Pcl is counting on its venture arm, Siri Ventures, to introduce new technologies -- ranging from drone deliveries to electric-vehicle charging to autonomous driving -- into its traditional real estate business.
Siri Ventures is a joint venture between Sansiri, which owns 97% of the unit, and Siam Commercial Bank. It has so far used about a third of its $45 million in assets to directly invest in startups, mainly in the property technology (proptech) area. Another $15 million went to venture capital funds.
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