Thailand’s digital bank, KASIKORNBANK (KBank), has launched a $100 million flagship fund, KXVC, aimed at fintech startups specializing in AI, Web3, and Deep Tech globally.
The move is set to capitalize on the booming digital economy in the Asia-Pacific (APAC) region, projected to hit $1 trillion by 2030.
APAC, and particularly Southeast Asia, is a thriving hub for digital innovation, boasting over 400 million digital consumers. KXVC is poised to act as a regional conduit to bridge global founders in AI, Web3, and Deep Tech with KBank, fostering financial innovations within the APAC ecosystem.
Krating Poonpol, Group Chairman of KBTG, with an impressive track record of over 100 investments and 4 unicorns, will spearhead the fund alongside Jom Vimolnoht, Managing Director of KXVC. Vimolnoht’s portfolio already includes investments worth $400 million in over 35 regional startups.
As a strategic extension of KASIKORN X (KX), KXVC is gearing up to become a pivotal gateway for global founders looking to harness the extensive corporate, SME, and consumer base in APAC.
“KXVC will be a stepping stone for global founders to drive their business expansion in APAC with strong synergy with KBank and our partners,” says Krating Poonpol.
Echoing this sentiment, Jom Vimolnoht, emphasizes the potential in APAC: “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 aligns closely with the financial sector’s needs in APAC. The fund will prioritize consumer-focused AI, cybersecurity, AI/ML tools, and specific AI startup challenges. In the realm of Web3, the fund aims to invest in infrastructures, node validators, RPC providers, and the growing NFT consumer market, among other areas.
Before its formal introduction, KXVC, under the umbrella of KX, has collaborated with global frontrunners like MagicLink, Transak, and Hashkey Capital. Going forward, KXVC is setting its sights on investing in over 30 startups and funds across the US, EU, Israel, and APAC.