Early-stage VC firm SeaX Ventures (Southeast Asia Exponential Ventures) announced that it has closed a US$60 million Fund II. The amount is higher than its initial plan to raise US$50 million.
The firm counts prominent companies such as PTT OR International Holdings, Singha Ventures Corporation, Ramkhamhaeng Hospital PCL, and BCH Ventures as its limited partners.
SeaX Ventures managing partner Supachai “Kid” Parchariyanon / Photo credit: SeaX Ventures
SeaX Ventures plans to deploy the fund for startups in the Web3, foodtech, biotech, AI, robotics, internet of things (IoT), and hardware sectors. It will give between US$500,000 to US$5 million in pre-seed, seed, and series A funding rounds.
The VC firm was founded by managing partner Supachai “Kid” Parchariyanon in 2018. While the company is based in the US, most of its team is located in Thailand. It also has a tight connection with consulting firm, accelerator, and event organizer Rise – also founded by Parchariyanon.
In a statement, SeaX Ventures said that it has invested in the seed rounds of three unicorns so far. It also counts YGG Southeast Asia, Solana, Aifi, and Bot MD, as its portfolio firms.
Editing by Miguel Cordon and Jaclyn Tiu
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