in

KASIKORNBANK Launches KXVC, a $100m Fund for AI, Web3, and Deep Tech Startups

Thailand’s digital bank, KASIKORNBANK (KBank), has recently announced the launch of KXVC, a flagship fund worth $100 million. This fund is specifically targeted towards fintech startups that specialize in AI, Web3, and Deep Tech on a global scale.

The main aim of this move is to take advantage of the rapidly expanding digital economy in the Asia-Pacific (APAC) region, which is projected to reach a staggering $1 trillion by 2030.

APAC, particularly Southeast Asia, has become a thriving hub for digital innovation, with over 400 million digital consumers. KXVC plans to act as a regional bridge, connecting global founders in AI, Web3, and Deep Tech with KBank, in order to foster financial innovations within the APAC ecosystem.

Leading this venture are Krating Poonpol, the Group Chairman of KBTG, who has an impressive track record consisting of over 100 investments and 4 unicorns, and Jom Vimolnoht, the Managing Director of KXVC. Vimolnoht’s portfolio already boasts investments worth $400 million in over 35 regional startups.

As KXVC is an extension of KASIKORN X (KX), it aims to become a pivotal gateway for global founders who wish to tap into the extensive corporate, SME, and consumer base in the APAC region.

According to Krating Poonpol, “KXVC will be a stepping stone for global founders to drive their business expansion in APAC with strong synergy with KBank and our partners.” This sentiment is echoed by Jom Vimolnoht, who emphasizes the potential in APAC, stating, “Resonating with the previous Tech-Disruption waves, AI, Web3, and Deep Tech demand real market adoption, and APAC has much to offer.”

KXVC’s investment strategy closely aligns with the financial sector’s needs in APAC. The fund will prioritize AI solutions that are consumer-focused, as well as investments in cybersecurity, AI/ML tools, and specific AI startup challenges. In the realm of Web3, the fund aims to invest in various areas such as infrastructures, node validators, RPC providers, and the growing NFT consumer market.

Prior to its official launch, KXVC, operating under the KX umbrella, has already collaborated with global frontrunners like MagicLink, Transak, and Hashkey Capital. Moving forward, KXVC aims to invest in over 30 startups and funds across the United States, European Union, Israel, and the APAC region.

Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it

What do you think?

363 Points
Upvote Downvote

Written by editorial

Leave a Reply

Your email address will not be published. Required fields are marked *

SEC Small Business Capital Formation Advisory Committee Releases Agenda for Upcoming Meeting

Fintech Torpago and Revio Collaborate to Empower Community and Regional Banks with Revenue Growth and Enhanced Client Retention