Miguel Cordon · · 1 min readKX, HashKey partner to support Web3 efforts in SEA, Hong Kong
Photo credit: HashKey Group
Kasikorn X (KX), the Web3-focused VC firm of Thailand’s Kasikornbank, has announced a strategic partnership with Hong Kong-headquartered asset manager HashKey Capital to provide support for startups in the digital asset and blockchain industries.
The partnership, which involves an investment from KX to HashKey Capital, aims to support the development of the Web3 ecosystem in Southeast Asia and Hong Kong by introducing global projects to the region and helping enable blockchain tech for wider use.
The two firms also highlighted their joint dry powder, with KX allocating US$100 million for fintech-focused Web3, AI, and deeptech projects and HashKey Capital raising US$500 million for its third fund.
Individually, KX has made more than 14 investment commitments globally. Meanwhile, HashKey Capital has backed the likes of Animoca Brands, Hex Trust, and Polkadot.
“KX’s reputation as a Southeast Asian gateway to the world makes them a natural partner for HashKey Capital,” said Deng Chao, head of HashKey Singapore and CEO of HashKey Capital.
This is not the first time KX and HashKey Capital have collaborated. The two firms previously teamed up for the Web3 Bangkok Blast expo, which they ran with Thailand-based digital asset firm Cryptomind.
See also: Crypto regulation heat map: Where does your country rank?
Editing by Lorenzo Kyle Subido
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