Kasikorn Business Technology Group (KBTG), the tech arm of Thailand-based Kasikorn Bank (KBank), has launched a venture capital fund targeting artificial intelligence, deep tech financial technology, and Web3 start-ups. 

With a capital of US$100 million, Kasikorn X Venture Capital (KXVC) fund aims to serve as a regional gateway for global founders in AI, Web3 and deep tech to create even more financial innovations in the Asia-Pacific region, particularly in Southeast Asia. 

“Asia-Pacific, especially Southeast Asia, is one of the most exciting digital ecosystems with a population of over 680 million people and its digital economy is [expected] to reach a high of US$1 trillion in 2030 with over 400 million digital consumers,” KBank says.

The KXVC fund will be led by Ruangroj Poonpol, who also served as group chairman of KBTG. He has a strong track record as a venture capitalist with over 100 investments, including four unicorns and 10 exits across five funds.

The fund will be co-managed by Jom Vimolnoht, KXVC managing director, who has handled some US$400 million in investments in more than 35 start-ups in the 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," Ruangroj says.

The region has much to offer, especially when it comes to real market applications of AI, Web3, and deep tech, according to Jom.

As part of its initial plans, KXVC will invest in consumer-focused AI and cybersecurity, including tools in targeting deployment platforms, data annotation and model optimization.

The fund will also look into problem-specific AI start-ups, as well as Web3 infrastructure, nodes validators, RPC providers, middlewares, modularity technologies, privacy, ZKP, wallets, alternative L1/L2s, shared securities, LsdFi, and consumerization of non-fungible tokens.