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news releases

ADB Ventures Backs LocalFarm to Help Thai Tourism Endure Downturn

The Asian Development Bank’s (ADB) impact investment platform, ADB Ventures, has teamed with the Tourism Authority of Thailand (TAT) to support technology startup TakeMeTour to develop the LocalFarm online platform and help mitigate the impact of the coronavirus disease (COVID-19) pandemic on Thailand’s tourism sector.

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ADB Ventures is ready to hit the ground running

ADB formally authorized the ADB Ventures platform in late January, and earlier this month we were proud to achieve the first close of our inaugural investment fund. We raised US$ 50 million, exceeding our target. After a year and a half of project preparation, we are finally ready to start making investments.

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