Thailand’s KBank Launches $100M Fund for AI, Web3, Deep Tech Startups

The NFT Unicorn Crypto_Funding Thailand’s KBank Launches $100M Fund for AI, Web3, Deep Tech Startups Crypto News

Kasikorn Business Technology Group (KBTG), the technology arm of Thailand-based Kasikornbank (KBank), has launched a $100 million fund for global artificial intelligence (AI), Web3, and deep tech startups with potential synergy in the Asia-Pacific (APAC) region.

According to an announcement sent to CryptoPotato, the fund, dubbed KXVC, will become a regional gateway to enable global founders in AI, Web3, and deep tech to synergize with KBank and create financial innovations in the APAC region.

KBank Unveils $100M Deep Tech Fund

The new fund will focus on AI, Web3, and deep tech startups that align with the financial sector and serve the needs of consumers, corporations, and small and medium-sized enterprises (SMEs) in the APAC region.

For the AI industry, KXVC is looking to invest in startups building solutions around consumer-focused, problem-specific AI-like cybersecurity and artificial intelligence/machine learning (AI/ML) tools like deployment platforms, data annotation, and model optimization. For Web3, the fund targets several solutions, including wallets, infrastructure, modularity technologies, privacy, alternative layer-1 and layer-2s, node validators, and the consumerization of non-fungible tokens.

Before KXVC’s launch, Kasikorn X, the venture builder behind the fund, was already working with many global AI, Web3, and deep tech startups and funds, including Hashkey Capital, MagicLink, Transak, 1KX, Symbolic Capital, and L2 Iterative Venture. KXVC intends to continue KX’s collaborations and investment operations with a target of at least 30 startups and funds primarily located in the United States, Europe, Israel, and APAC.

A Major Regional Gateway

KXVC will be led by Krating Poonpol, KBTG’s chairman and KBank’s president of technology. Poonpol is a venture capitalist with over 100 investments, four unicorns, and ten exits across five funds. He will work with Jom Vimolnoht, who will serve as KXVC’s managing director, with the experience of backing over 35 startups in the region.

“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.

As Asia-Pacific has become one of the most exciting digital ecosystems, with more than 400 million consumers and an economy rising to $1 trillion in 2030, KXVC intends to establish itself as a major gateway for global founders to tap into the region’s large corporate, SME, and consumer base.

“Resonating with the previous Tech-Disruption waves, AI, Web3, and Deep Tech demand real market adoption, and APAC has much to offer,” Vimolnoht stated.


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Source: CryptoPotato