Kasikornbank (KBank) in Thailand has launched a new $100 million venture fund called KXVC. The fund will focus on investing in global artificial intelligence (AI), Web3, and deep tech startups.
Specifically, KXVC will target startups building solutions aligned with the financial sector that can serve consumer, corporate, and SME needs in Asia-Pacific. KBank aims to act as a gateway for founders worldwide to tap the region’s large addressable market.
KXVC builds on KBank’s existing collaborations with over 35 startups and funds in areas like cybersecurity, machine learning, wallets, NFTs">NFTs, and more. The fund plans to invest in at least 30 more startups primarily located in the U.S., Europe, Israel and Asia-Pacific.
With digital adoption accelerating in Asia, KBank views the fund as a way to remain at the forefront of technological innovation relevant to finance. The launch highlights the ongoing rise in corporate venture capital targeting emerging technologies.
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