Kasikorn Business Technology Group (KBTG) launches a $100 million fund, KXVC, to support global startups in AI, Web3, and deep tech, focusing on financial innovations in the Asia-Pacific (APAC) region.
- Kasikorn Business Technology Group (KBTG) launches $100 million fund KXVC to support global startups in AI, Web3, and deep tech in APAC.
- KXVC targets AI solutions, cybersecurity, AI/ML tools, Web3 tech, wallets, and non-fungible tokens.
- Prior collaborations with global startups and funds continue as KXVC plans to invest in 30+ startups in the US, Europe, Israel, and APAC.
- Led by Krating Poonpol and Jom Vimolnoht, KXVC aims to be a gateway for global founders in APAC’s growing digital economy.
Kasikorn Business Technology Group (KBTG), the technology arm of Kasikornbank (KBank) in Thailand, has announced the launch of a $100 million fund called KXVC. The fund aims to support global startups in the fields of artificial intelligence (AI), Web3, and deep tech, with a focus on creating financial innovations in the Asia-Pacific (APAC) region.
💰 Thailand's KBank Launches $100M AI Fund 🚀
Kasikornbank (KBank) introduces $100M KXVC fund, led by Krating Poonpol, for AI, Web3, and Deep Tech startups in Asia-Pacific.
🎯 Targets: AI, Cybersecurity, Web3.
30+ global startups to benefit. KBank explores DeFi and blockchain. pic.twitter.com/Z0R0QU9wtM
— Obi Crypto (@ObiCrypto_) September 14, 2023
KXVC Focuses on AI, Web3, and Deep Tech
KXVC will primarily target AI, Web3, and deep tech startups that have a potential synergy with the financial sector and cater to the needs of consumers, corporations, and small and medium-sized enterprises (SMEs) in the APAC region.
In the AI industry, KXVC plans to invest in startups developing solutions related to consumer-focused AI, such as cybersecurity and artificial intelligence/machine learning (AI/ML) tools like deployment platforms, data annotation, and model optimization. For Web3, the fund aims to support various solutions including wallets, infrastructure, modularity technologies, privacy, alternative layer-1 and layer-2s, node validators, and the consumerization of non-fungible tokens.
Kasikorn X and Existing Collaborations
Prior to the launch of KXVC, Kasikorn X, the venture builder behind the fund, already had collaborations with several global AI, Web3, and deep tech startups and funds. Some of the notable partners include Hashkey Capital, MagicLink, Transak, 1KX, Symbolic Capital, and L2 Iterative Venture. KXVC plans to continue these collaborations and aims to invest in at least 30 startups and funds primarily located in the United States, Europe, Israel, and APAC.
KXVC Aims to Be a Major Regional Gateway
KXVC will be led by Krating Poonpol, KBTG’s chairman and KBank’s president of technology. Poonpol, a seasoned venture capitalist with extensive experience in investments, will work closely with Jom Vimolnoht, who will serve as KXVC’s managing director. Vimolnoht has a track record of supporting over 35 startups in the APAC region.
KXVC aims to establish itself as a significant gateway for global founders to expand their businesses in the APAC region. With a digital ecosystem that boasts over 400 million consumers and an economy projected to reach $1 trillion by 2030, Asia-Pacific offers vast opportunities for real market adoption of AI, Web3, and deep tech.
To Sum it All Up….
“KXVC will be a stepping stone for global founders to drive their business expansion in APAC with strong synergy with KBank and our partners,” said Poonpol.
“Resonating with the previous Tech-Disruption waves, AI, Web3, and Deep Tech demand real market adoption, and APAC has much to offer,” Vimolnoht added.
Overall, KBTG’s launch of the $100 million fund, KXVC, demonstrates its commitment to support innovative startups in the AI and deep tech sectors. The fund is set to empower global founders and foster financial innovations in the rapidly growing APAC region.