Kasikornbank launches $100m fund for fintech-focused AI, Web3 solutions

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Kasikornbank (KBank), a major digital bank in Thailand, has unveiled KXVC – a US$100 million flagship fund that will invest in AI, Web3, and deeptech startups focusing on financial services.

KXVC aims to be a regional gateway for global founders who want to access the digital ecosystem in Asia Pacific, whose internet economy is expected to be valued at US$1 trillion by 2030.

In addition to investments, KXVC will offer founders access to KBank’s network of corporate resources, SMEs, and consumers, as well as assistance from its partners.

KXVC was established from Kasikorn X (KX), the innovation arm of KBank. KXVC plans to continue KX’s investment activities and invest in over 30 startups and funds globally, focusing on those in Asia Pacific, Israel, the US, and the European Union.

Before KXVC’s launch, KX had already worked with startups and funds such as Magic Link, Transak, HashKey Capital, Symbolic Capital, and Aifund.ai.

KX’s recent investments include participation in the US$5 million seed round of blockchain startup Forward, alongside investors like Primestreet Capital and Krungsri Finnovate.

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KXVC will be led by Krating Poonpol, group chairman of Kasikorn Business-Technology Group, who has a track record of investing in over 100 startups, four unicorns, and 10 exits across five funds. Jom Vimolnoht, who has previously invested in 35 startups in Asia Pacific, will join Poonpol as managing director of KXVC.