Orzon Ventures will receive $25m in initial capital from PTTOR, which has partnered 500 Global to seek out deals in the Thai and Southeast Asian venture ecosystems.

Thailand-headquartered oil and gas conglomerate PTT’s Oil and Retail (PTTOR) subsidiary formed a US-based corporate venture capital (CVC) fund yesterday with venture capital firm 500 Global. Orzon Ventures will invest in startups from Thailand and other Southeast Asian countries. The corporate’s Singapore-based subsidiary, PTTOR International Holdings, will initially provide $25m for the vehicle, potentially increasing…

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