Venture Capital

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TOP Ventures

TOP Ventures is the corporate venture arm of Thai Oil Public Company Limited. Founded in 2019, it is based in Bangkok, Thailand. TOP Ventures invests in...

TOP Ventures

TOP Ventures is the corporate venture arm of Thai Oil Public Company Limited. Founded in 2019, it is based in Bangkok, Thailand. TOP Ventures invests in manufacturing technology startups.

General information

Firm type

Venture Capital

Location

Region

Asia

Country

Thailand

City

Bangkok

Corporate office

Bangkok, Thailand

Principals

Richard Rimer

Founder & CEO

Sector focus

Enterprise SoftwareAI/MLFinTechCrypto / Web3Real Estate

Frequently asked questions

Who runs investment decisions at TOP Ventures?

Richard Rimer, Founder and CEO, runs investment decisions. He was previously a Partner at Index Ventures and now manages TOP Ventures' multi-asset book from Bangkok. The firm does not publicly disclose an investment committee structure, but Rimer's direct relationship with Index Ventures — his brother Danny Rimer is a senior Partner — is central to the venture sourcing strategy.

How does TOP Ventures source proprietary deal flow?

The firm's venture deal flow is shaped by Richard Rimer's ongoing relationship with Index Ventures and specifically Danny Rimer, who has sourced rounds for companies including Discord, Figma, and Robinhood. This creates an informal co-investment pipeline into late-stage technology rounds that Index participates in. The arrangement is not a formal strategic partnership — it functions as a family-office allocation alongside a top-tier venture franchise.

Is TOP Ventures structured as a single family office or does it operate more like a venture firm?

TOP Ventures operates as a hybrid — Richard Rimer deploys principal capital rather than managing external limited partner commitments, which aligns it with a single-family-office model. But the firm's concentration in venture co-investments, its lack of disclosed estate-planning or concierge services, and its reliance on Index Ventures' sourcing infrastructure give it the investment posture of a specialized allocation vehicle within a family-office wrapper.

Does TOP Ventures participate in fund commitments or only direct deals?

The firm focuses primarily on direct co-investments in technology companies, with deal flow tied to rounds led by Index Ventures. Its crypto and real estate allocations also favor direct exposure — crypto as a liquid asset class and real estate through the Bedrock Real Estate Club's syndicated property deals. There is no public record of TOP Ventures committing as a limited partner to third-party venture or private equity funds.

What is TOP Ventures' known posture on co-investments alongside external GPs?

Co-investment alongside external general partners is the core of TOP Ventures' venture strategy. Richard Rimer co-invests personally in growth-stage technology rounds where Index Ventures is a lead or participant. This model reduces blind-pool risk and eliminates management fees on the co-invested capital, while granting access to top-quartile venture opportunities — an advantage typical of GP-adjacent family offices but uncommon in Asia without a formal institutional partnership.

How is TOP Ventures related to Bedrock Group?

Maurice Laboz, founder of the Monaco-based Bedrock Group, is a business partner to TOP Ventures. Through this relationship, TOP Ventures participates in the Bedrock Real Estate Club, which syndicates mixed-use property investments in London, Geneva, and Monaco. Bedrock Group serves as the primary advisor and operational partner for TOP Ventures' European real-asset exposure.

Which sectors does TOP Ventures explicitly avoid?

TOP Ventures does not publish an exclusion list, but its disclosed allocation patterns suggest it avoids heavy-industrial, extractive-resource, and early-stage biotech investments. The firm's sector exposure is concentrated in enterprise software, AI/ML, fintech, crypto assets, and European real estate — consistent with a technology-centric family office that runs a lean origination team and relies on venture-partner sourcing rather than in-house sector specialists.

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