Thailand's KBank launches $100M fund targeting AI and Web3
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Thailand's KBank launches $100M fund targeting AI and Web3
Hopes to become a regional gateway to help global founders in APAC
Thailand-based Kasikornbank (KBank) has launched a $100 million fund to invest in artificial intelligence (AI), Web3, and fintech startups.
The fund, named KXVC, will be led by Krating Poonpol, group chairman of KBank’s tech arm, and Jom Vimolnoht, managing director of KXVC, according to a press release published on Wednesday.
It will target AI, Web3, and deep tech fintech startups globally with a focus on the Asia-Pacific (APAC) 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.
More specifically, KXVC is going to invest in consumer-focused AI, cybersecurity, AI/ML tools such as deployment platforms, data annotation and model optimization, and problem-specific AI startups.
Within Web3, its investments will target Web3 infrastructures, nodes validators, RPC providers, middlewares, modularity technologies, privacy, ZKP, wallets, alternative L1/L2s, shared securities, LsdFi and consumerization of NFTs.
Kbank is the second-largest bank in Thailand by asset evaluation. In January, it held 3.6 trillion Thai Bhat, worth roughly $100 billion.
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