Telenor and Thailand’s True Corp plan $200 million VC fund

FILE PHOTO: Telenor's logo is seen in central Belgrade
FILE PHOTO: Telenor's logo is seen in central Belgrade, Serbia, March 21, 2018. REUTERS/Marko Djurica/File Photo

November 22, 2021

BANGKOK (Reuters) – Norway’s Telenor ASA on Monday said it would set up a venture capital fund with Thailand’s True Corporation Pcl with a size of up to $200 million.

“We will set up a venture capital fund together with partners in the range of $100 to $200 million,” Telenor Chief Executive Sigve Brekke said in a virtual news conference about the company’s merger of Total Access Communication Pcl and Thailand’s True Corp.

(Reporting by Chayut Setboonsarng; Editing by Ed Davies)