Kasikorn Bank (KBank), Thailand’s second-largest bank by assets, has initiated a $100 million fund named KXVC, managed by its technology unit, Kasikorn Business Technology Group (KBTG). This fund is aimed at focusing on the fields of web3 and artificial intelligence. Here are the details of this significant development:
The primary goal of KXVC is to invest in web3, artificial intelligence, and deep technology finance ventures worldwide. A significant portion of these investments will be directed toward the Asia-Pacific (APAC) region, but potential investment opportunities will also be explored globally.
Krating Poonpol will serve as the Chairman of the fund, with Jom Vimolnoht as the Managing Director. These two individuals are prominent leaders within KBank’s technology unit, KBTG.
KXVC particularly aims to invest in the web3 space, with a special interest in ventures that possess new technologies such as zero-knowledge proofs and liquid collateralized derivatives.
Prior to launching KXVC, KBTG operated an incubator named Kasikorn X (KX), which featured notable projects like the NFT platform Coral and the crypto portfolio tracker Bigfin. KX also continued its growth by collaborating with various crypto funds.
KXVC sets a target of investing in over 30 ventures and funds globally, with a specific focus on the United States, European Union, Israel, and the APAC regions.