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SEC seeks public comments on proposed amendment to institutional investor definition to promote fundraising through PE Trusts



Wednesday 16 September 2026 | No. 197 / 2026


Bangkok, 16 September 2026 – The Securities and Exchange Commission (SEC) is seeking public comments on proposed principles for amending the regulations to expand the definition of institutional investors to promote fundraising through private equity trusts (PE Trusts). The proposed amendment would broaden the base of potential investors and increase opportunities for businesses to access sources of funding.

PE Trusts are one of the key fundraising mechanisms for investment in businesses outside the stock exchange, startups, and businesses driven by innovation and creativity. Under the SEC’s current regulations, investment in PE Trusts is limited to institutional investors or ultra-high net worth investors* under the relevant regulations.

The SEC is therefore considering amending the definition of institutional investors to additionally cover government agencies with roles in promoting research and innovation, as well as university holding companies**, to allow greater investment through PE Trusts. This would support fundraising by innovation-driven businesses and businesses with growth potential for the country, promote fundraising through PE Trusts, and increase opportunities for businesses to access sources of funding. The key points of the proposed amendments are as follows:
          (1) A government agency whose mandate includes promoting or supporting research or innovation, including a juristic person established pursuant to the policy of such agency for the purpose of investing in other businesses.
          (2) A juristic person established pursuant to the policy of a higher education institution for the purpose of investing in other businesses.

The proposed additions would apply only to transactions related to investments in PE Trusts.

The consultation paper is available on the SEC website at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1221 and on the Legal Hub at https://law.go.th/. Stakeholders and interested parties are invited to submit comments through either website or by email at fundraisingpolicy@sec.or.th. The public hearing ends on 15 October 2026.



Notes: 
* Notification of the Securities and Exchange Commission No. Kor Jor. 39/2564 Re: Determination of the Definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor, dated 24 December 2021 https://publish.sec.or.th/nrs/9265s.pdf
** A university holding company is a business unit with a separate juristic person status from a university or a state research institution, established to manage investments in innovation-driven businesses.





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Building Confidence in the Capital Market
NEWS
Securities and Exchange Commission
Corporate Communication and Investor Service Department
Tel. (66)2033-9502-5 E-mail: press@sec.or.th
No. 197 / 2026 Wednesday 16 September 2026
SEC seeks public comments on proposed amendment to institutional investor definition to promote fundraising through PE Trusts

Bangkok, 16 September 2026 – The Securities and Exchange Commission (SEC) is seeking public comments on proposed principles for amending the regulations to expand the definition of institutional investors to promote fundraising through private equity trusts (PE Trusts). The proposed amendment would broaden the base of potential investors and increase opportunities for businesses to access sources of funding.

PE Trusts are one of the key fundraising mechanisms for investment in businesses outside the stock exchange, startups, and businesses driven by innovation and creativity. Under the SEC’s current regulations, investment in PE Trusts is limited to institutional investors or ultra-high net worth investors* under the relevant regulations.

The SEC is therefore considering amending the definition of institutional investors to additionally cover government agencies with roles in promoting research and innovation, as well as university holding companies**, to allow greater investment through PE Trusts. This would support fundraising by innovation-driven businesses and businesses with growth potential for the country, promote fundraising through PE Trusts, and increase opportunities for businesses to access sources of funding. The key points of the proposed amendments are as follows:
          (1) A government agency whose mandate includes promoting or supporting research or innovation, including a juristic person established pursuant to the policy of such agency for the purpose of investing in other businesses.
          (2) A juristic person established pursuant to the policy of a higher education institution for the purpose of investing in other businesses.

The proposed additions would apply only to transactions related to investments in PE Trusts.

The consultation paper is available on the SEC website at https://www.sec.or.th/TH/Pages/PB_Detail.aspx?SECID=1221 and on the Legal Hub at https://law.go.th/. Stakeholders and interested parties are invited to submit comments through either website or by email at fundraisingpolicy@sec.or.th. The public hearing ends on 15 October 2026.



Notes: 
* Notification of the Securities and Exchange Commission No. Kor Jor. 39/2564 Re: Determination of the Definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor, dated 24 December 2021 https://publish.sec.or.th/nrs/9265s.pdf
** A university holding company is a business unit with a separate juristic person status from a university or a state research institution, established to manage investments in innovation-driven businesses.