Thai banking giant KBank sets up $100 million web3 and AI fund

Quick Take

  • Kasikorn Bank launched a $100 million fund to invest in web3 and AI startups.
  • KXVC targets web3 infrastructure startups, including blockchain developers and nodes validators.

Kasikorn Bank (KBank), Thailand's second-largest bank by assets, has launched a $100 million fund to invest in web3 and artificial intelligence startups.

The fund, dubbed KXVC, has specifically been set up by KBank's tech arm, Kasikorn Business Technology Group (KBTG), the group said Thursday. It will be led by Krating Poonpol, group chairman of KBTG, and Jom Vimolnoht, managing director of KXVC.

The fund will target AI, web3, and deep tech fintech startups globally with a potential focus on Asia Pacific (APAC). Within web3, the fund will look at a range of technology startups, including zero-knowledge proofs and liquid staking derivatives.