Thaksin wants Thai billionaires to support venture capital

Former Prime Minister Thaksin Shinawatra said on his Facebook page that Thai multi-millionaires should use their wealth to start up venture capital funds to provide opportunities for the younger generation to begin their own businesses.Setting up the funds would both expand their businesses and provide opportunities for the next generation of entrepreneurs who are well-educated, modern and tech-savvy, he said. Thaksin said the US possessed a lot of money because the nation had many venture capital funds which supported young entrepreneurs in exchange for half of their business’s stake. The Yingluck government had already established a venture capital fund of seed money for students but it might not be enough. If the private sector also did the same, the country’s economy would grow faster and become stronger, he wrote. Thaksin also mentioned in his post that the banking system in Dubai encouraged locals to borrow and start up their own businesses (Source: Thaksin’s Facebook)

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