Kasikornbank Launches $100 Million Fund to Drive AI and Web3 Startups in APAC
Summary:
Kasikornbank (KBank), one of Thailand's largest private banks, launches a $100 million flagship fund called KXVC to invest in AI, Web3, and Deep Tech startups in the Asia-Pacific region. The fund aims to support global founders and will focus on consumer-focused AI, cybersecurity, AI/ML tools, and Web3 infrastructures. KBank plans to invest in over 30 startups and funds globally, with a specific focus on the United States, European Union, Israel, and APAC.
Kasikornbank, also known as KBank, has announced the launch of a flagship fund called KXVC, with a $100 million investment budget. The fund will be led by Krating Poonpol, Chairman of KBank Business Technology Group, and will focus on investing in artificial intelligence (AI), Web3, and Deep Tech startups in the Asia-Pacific (APAC) region. Poonpol emphasized that KXVC will provide a platform for global founders to expand their businesses in APAC, in collaboration with KBank and its partners. The fund's investments will target various areas including consumer-focused AI, cybersecurity, AI/ML tools, Web3 infrastructures, and problem-specific AI startups. Furthermore, KXVC has plans to invest in more than 30 startups and funds globally, with a specific focus on the United States, European Union, Israel, and APAC. KBank has been actively involved in the digital economy, experimenting with decentralized finance (DeFi) services in 2021 and joining Visa's blockchain-based B2B solution for cross-border payments in 2018. With assets worth 3.6 trillion Thai Baht (approximately $100 billion) by 2023, KBank holds the position of being the second-largest bank in Thailand.
Published At
9/14/2023 8:32:53 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.